Diageo: Shares in FTSE 100 Guinness, Baileys and Johnnie Walker owner are staging a comeback December 12, 2024 Shares in Diageo, the giant behind Guinness, Baileys and Johnnie Walker, are staging a comeback after falling to a historic low last month. The London-headquartered group, which also has a listing on the New York Stock Exchange, has seen its share rise to 2,581p in early trading today, up 3.6 per cent. The latest price [...]
Whisky Business: Johnson Reserve’s record-breaking release December 12, 2024 Whisky Business: City AM’s monthly look at the world of whisky. Whisky has become one of the hottest assets in the world over the past decade, but as the financial returns have stacked up for investors, quality has, in some cases, fallen by the wayside. Crafting a memorable whisky takes skill and effort, more so [...]
SThree shares drop to four-year low as recruiter issues profit warning December 12, 2024 Shares in SThree cratered on Thursday after the recruiter issued a profit warning for its current financial year, citing challening conditions in the science jobs market. The firm’s share price tumbled as much as 39 per cent in early trading before paring some losses, making it the worst performer on the FTSE 250. The stock [...]
Debts to go unpaid after collapse of Simon Rimmer’s restaurant chain December 12, 2024 How much the well-known restaurant chain co-founded by celebrity chef Simon Rimmer owed when it collapsed into administration has been revealed for the first time. Vegetarian restaurant Greens first opened its doors in Didsbury, Manchester, in 1990 but was forced to close in January 2024. That closure was followed by the chain’s other site in [...]
Kellogg’s serves up loss ahead of Mars mega deal December 12, 2024 The combined UK operations of Kellogg’s have fallen to a loss despite the increasing popularity of its cereals and Pringles boosting sales further past the £1bn mark. Kellogg’s runs two separate companies in the UK from its headquarters in Salford: Kellogg Marketing and Sales Company (UK) and Kellogg Company of Great Britain. As a result [...]
Currys reports £32m Budget tax hit December 12, 2024 Consumer electronics retailer Currys has become the latest company to warn about the impact of Labour’s tax raid on its bottom line. In its half-year results for the six months to 26 October 2024, published this morning, management said the estimated cost of recent tax policy changes could amount to as much as £32m. The [...]
Mark Kleinman: Unilever puts buyout firms in the deep freeze December 12, 2024 Mark Kleinman is Sky News’ City Editor and is the man who gets the Square Mile talking in his weekly City AM column. This week, he tackles Unilever’s flakey ice cream approach, Thames Water’s demanding investors, and the long-winded sale of The Observer. Anyone for an ice cream fight? The decision of FTSE-100 consumer goods behemoth Unilever to [...]
Foreign takeovers surge as buyers strike megadeals December 12, 2024 The foreign takeover raid on UK companies accelerated this year as international buyers struck a series of mega deals to acquire listed companies. In the ten months to the end of October, deals launched by foreign buyers with a UK target had jumped 55 per cent to $116bn (£91bn), with the number of deals increasing [...]
Omnicom and IPG staff fret for their future after $13bn mega merger December 12, 2024 Omnicom and IPG sent shockwaves through the advertising sector when they announced a $13bn merger on Monday. Ali Lyon looks at what the deal means for the firms’ agencies, staff and the ad industry as a whole. Advertising, according to Mad Men’s Don Draper, is based on one thing: happiness. Happiness, the protagonist of the [...]
FTSE bosses should be paid like top footballers, says ICAP founder December 11, 2024 Bosses of London-listed firms should be paid like the best footballers without facing a backlash, Michael Spencer has argued. The founder of brokerage ICAP and former Conservative party Treasurer said that to attract top talent to run major companies, the UK needed to tackle the “political hot potato” of FTSE bosses’ pay. “We don’t mind [...]