Arbuthnot: Historic bank leans on wealth unit as rate cut hits lending income October 17, 2024 Arbuthnot Banking Group reported growth in its wealth management arm as the historic lender looks to weather a fall in interest rates.
Rentokil returns to growth after activist investor scuffle October 17, 2024 Pest-control company Rentokil has reported an uptick in revenue as it grapples with the after-effects of a profit warning and activist investor backlash. The firm told markets this morning that revenue grew by 3.6 per cent year on year in the three months to 30 September, from £1.39bn to £1.44bn. Shares in the company rose [...]
The Square Mile and Me: M Restaurants founder Martin Williams on backpack etiquette and mandatory two hour lunches October 17, 2024 Each week we ask a City figure to take a trip down memory lane. Today it’s Martin Williams, CEO of Groucho and founder of M Restaurants on the City staple’s 10th birthday What was your first job? I started working in hospitality when I was sixteen, as a dishwasher in a grotty hotel in North Yorkshire. I [...]
UK house prices surge as cooling inflation gives rise to lower borrowing costs October 16, 2024 House prices in the UK rose by 2.8 per cent against the backdrop of the lowest inflation for three years and prospect of interest rates coming down further. The UK average according to the Office for National Statistics sat at £293,000 in the year to August 2024, though London prices are typically higher. This marked [...]
Bibby Stockholm: Profit rises for asylum seeker barge ahead of closure October 15, 2024 The Bibby Stockholm barge, which houses asylum seekers off the coast of Dorset, continued to turn a profit in 2023, it has been revealed. The three-storey vessel has posted a pre-tax profit of £167,035 for the 12 months, down from the £421,701 it reported for 2022. Newly-filed accounts with Companies House also show its turnover [...]
Robert Walters blames Budget uncertainty for slump in UK fees October 15, 2024 Recruiter Robert Walters has posted a slump in net fee income as economic and political uncertainty dragged on hiring in the UK and Europe.
Being ‘the grown ups in the room’ won’t cut it with investors October 14, 2024 At today’s International Investment Summit, ministers must recognise that businesses want concrete assurances about the kind of returns they can expect, says Eliot Wilson Today is the government’s long-anticipated International Investment Summit, which will bring together potential investors from abroad and within the United Kingdom and is intended to show, in the business and trade [...]
Brewdog founder James Watt on Britain’s ‘existential’ debt crisis October 11, 2024 Founder of beer chain Brewdog has warned Britain’s political system faces an “existential crisis”, and has offered a solution to get on top of it. James Watt took to LinkedIn to vent his frustration at the levels of debt being serviced in the UK economy at the moment, which makes it “impossible for us to [...]
Post Office boss told he did not need to ‘dig into’ Horizon scandal October 9, 2024 The outgoing Post Office chief executive said he was told he “did not need to dig into the details” of the Horizon IT scandal when he joined the business despite it having led to the wrongful prosecution of hundreds of sub-postmasters. During what was the first of three days of evidence at the Horizon inquiry, [...]
Stefano Cantino: Who is Gucci’s new boss tasked with turning the luxury brand around? October 9, 2024 First Mulberry, then Burberry, and now Gucci – reshuffles at the very top of luxury businesses are definitely in vogue. Gucci, owned by Kering, has announced the appointment of Stefano Cantino as its new chief executive. He will take over from interim boss Jean-Francois Palus on 1 January 2025. Much like Mulberry and Burberry’s new [...]