Pernod Ricard cautions ‘softer’ fourth quarter as China hit by Covid lockdowns April 28, 2022 Absolut vodka maker Pernod Ricard has warned it faces a softer fourth quarter against a backdrop of Covid restrictions in China. The spirits firm’s chief financial officer said it was anticipating “an impact” from Covid restrictions during the fourth quarter. “March was very impacted by the start of Covid restrictions,” Helene de Tissot told the [...]
Whitbread issues stark warning on sector cost inflation April 28, 2022 Premier Inns owner Whitbread has cautioned hospitality sector cost inflation will hit a higher level than anticipated. The hotel chain owner said cost inflation this financial year was anticipated to reach between eight and nine per cent, one per cent more than previously expected. The group said it anticipated to largely offset these higher levels [...]
The City View: August CEO Mélie Dunod on rethinking holiday home co-ownership April 27, 2022 Today Andy Silvester talks to Mélie Dunod, CEO and co-founder of holiday home co-ownership firm August. She talks us through the company’s inception; why their equity purchase model allows for better and more transparent co-ownership; and the post-Covid re-examination of lifestyle purchases. And in the news: law giant Eversheds Sutherland has re-entered Russia, striking a [...]
400k out of workforce due to health inequality which could lead to £8bn economic drag April 27, 2022 The government has said tackling health disparities is a “priority’, after a new report revealed Illness and covid has driven an estimated 400,000 people from the workforce, leading to a possible £8bn drag on the economy. 1m workers are missing from the workers from before the pandemic, with 400,00 due to illness, including long-Covid, according [...]
How technology is transforming and unlocking real-estate asset classes April 27, 2022 The line between technology and real estate is blurring, bringing new opportunities and asset classes, particularly in residential, office and biotech, says Samantha Kempe, co-founder and chief investment officer of IMMO Capital. The sheer size of the real estate sector – the global figure reached a record $326.5 trillion (about £251.1 trillion) in 2021, according [...]
Zoom stock hits pre-pandemic level as pandemic glow vanishes April 27, 2022 Zoom’s share price has hit February 2020 levels in a sign that the pandemic may be truly over in the Western world. The tech stock jumped around 360 per cent over the course of 2020, and everyone across the world seemed to be glued to a software that was relatively unknown the year before. Fast [...]
Lloyds warns of looming defaults on cost of living shock April 27, 2022 The cost of living shock that is rippling throughout household finances is increasing the chances of borrowers defaulting on their debts, Britain’s biggest mortgage lender warned today. Worsening economic conditions triggered by inflation scaling to 30-year highs is likely to lead to greater financial distress among Brits, Lloyds Bank said today. The bleak assessment touches [...]
Landmark year: GSK beats quarterly expectations as it plans consumer healthcare spin off April 27, 2022 Healthcare giant GlaxoSmithKline has reiterated its growth outlook after posting first quarter sales of £9.8bn, surpassing analysts’ expectations. The pharmaceutical firm said it anticipated it would deliver sales growth in 2022 of between five to seven per cent at CER and growth of adjusted operating profit of between 12 to 14 per cent at CER. [...]
Johnson threatens to ‘privatise the arse’ off Passport Office and DVLA April 26, 2022 Boris Johnson has threatened to “privatise the arse” off the Passport Office, Driver and Vehicle Licensing Agency (DVLA) and other under-performing public bodies. The Prime Minister told cabinet colleagues that he wanted to end the “post-Covid mañana culture” among arms-length public bodies, which now have huge backlogs, by increasing scrutiny. Senior government sources also say [...]
Police name four victims of Southwark stabbing April 26, 2022 Police have named the four victims killed in a South London stabbing on Monday. Denton Burke, 58 and his partner Dolet Hill, 64, were stabbed to death at their home in Delaford Road Southwark, in the early hours of yesterday morning. The force also announced victims as Tanysha (Rachquel) Ofori-Akuffo, 45, who is Dolet Hill’s [...]