Next shares plummet as retailer braces investors for a ‘difficult’ year March 29, 2023 Next share price fell 7.44 per cent this morning as it assured investors that it is prepared for a “difficult” year ahead, as soaring inflation looks set to rattle the high street powerhouse. The FTSE 100 listed retailer said that it was budgeting for full price sales to be down slightly by 1.7 per cent [...]
FTSE 100 close: Barclays charge runs out of steam as Deutsche Bank swings to losses March 28, 2023 London’s FTSE 100 was pulled higher by banks clawing back losses yet again today, with Barclays and Standard Chartered initially leading the charge before running out of steam heading into the close. The capital’s premier index jumped 0.17 per cent to 7,484.26 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with [...]
Can online favourite Ocado make a comeback, or will its share price sink lower? March 28, 2023 Ocado’s share price fell nearly six per cent in afternoon trade as the “magic” of the online retailer’s venture with Marks and Spencer did little to buoy the confidence of investors In its start of year trading update Ocado revealed that retail revenue grew slightly by 3.4 per cent, although a 7.5 per cent decrease [...]
HSBC, SocGen and BNP Paribas raided in France as part of ‘cum cum’ tax probe March 28, 2023 French authorities today raided the Paris offices of five major banks – including HSBC, BNP Paribas, and Société Générale – in relation to an ongoing fraud and money laundering investigation. In a statement, France’s national fraud prosecutor said the raids relate to a preliminary investigation into so-called ‘cum cum’ schemes, which was opened in December [...]
Bellway: How a spring uplift in the property market is giving housebuilder cause for optimism March 28, 2023 Bellway has said homebuyer demand has started to improve after seeing reservations plunge by nearly 50 per cent due to soaring mortgage rates. The housebuilder group, whose headquarters are in Newcastle, reported underlying pre-tax profits falling 4.6 per cent to £312.1 million for the six months to January 31. It delivered record revenues, up 1.6 [...]
Gambling crackdown continues as William Hill told to pay record £19.2m fine over ‘widespread and alarming’ failures March 28, 2023 Three gambling businesses owned by William Hill will pay a total of £19.2 million for “widespread and alarming” social responsibility and anti-money laundering failures, the Gambling Commission has announced. The settlement is the largest in the Gambling Commission’s history. WHG (International) Limited, which runs williamhill.com, will pay £12.5 million; Mr Green Limited, which runs mrgreen.com, [...]
Cheers to that! Diageo chief quits after decade at the top, as firm appoints FTSE 100’s tenth woman CEO March 28, 2023 Spirit maker Diageo has announced its chief executive Sir Ivan Menezes is to retire following ten years leading the firm. The London-listed drinks giant will step aside from the firm’s board in June of this year and be replaced by Debra Crew, who is currently its chief operating officer. Meneze joined the firm from the [...]
Ocado’s ‘M&S’ magic fails to impress as shares trade down despite revenue boost March 28, 2023 Ocado said it had helped by some “M&S magic” as the grocery chain’s joint venture with the high street stalwart boosted sales by 3.6 per cent in its first quarter. Shares in the online grocer were last trading down 1.97 per cent or 8.9p at 443.20p. The up market online grocer, which posted a pre-tax [...]
FTSE 100 close: Deutsche Bank surges while Barclays and HSBC yank London index higher March 27, 2023 London’s FTSE 100 kicked off the week in upbeat style, yanked higher by UK banking giants Barclays and Lloyds racking up gains. The capital’s premier index jumped 0.9 per cent to 7,471.78 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, climbed 0.19 per cent [...]
City moves: Citi’s head of UK investment banking on the move March 27, 2023 Citi’s head of UK investment banking Andrew Truscott has been appointed CEO of John Laing Group. John Laing, which is backed by private equity firm KKR, is an investor and manager of core infrastructure assets. Truscott has been at Citi since 2018, and will join John Laing in early summer. Before joining Citi he spent [...]