Ping An proposal to break up HSBC gains momentum as small investors back plan August 3, 2022 HSBC investors are ramping up calls for the banking giant to break up as they side with Chinese insurance company Ping An. Pressure on the bank to shave off its Asian business into a separate company increased after a meeting with HSBC executives and Hong Kong investors yesterday, as small shareholders backed the proposal by [...]
Oxford City Football Club Partner with CoinCorner To Accept Bitcoin August 3, 2022 | City Talk Oxford City FC is the first National League football club to accept Bitcoin and Lightning payments, in a partnership with CoinCorner. Douglas, Isle of Man — Oxford City FC has become the first National League club to accept matchday payments in Bitcoin after entering a multi-year partnership with CoinCorner. The partnership will allow supporters to purchase tickets, [...]
Fresnillo reports lower revenues as gold volumes fall and Covid’s impact lingers August 2, 2022 Fresnillo reported lower revenues for the first half of 2022 due to the drop in gold volumes and silver prices, with Covid’s impacts still a concern. The Mexican metals mining company reported adjusted revenues of $1.35bn, a drop of 12.6 per cent as volumes and prices of precious metals that the company mines declined. The [...]
Direct Line Insurance reports lower profit amid rising inflation and uncertain economic conditions August 2, 2022 Direct Line Insurance Group reported lower profits for the first half of 2022 as rising inflation and a gloomy market outlook impacted performance. The insurance company had a 47 per cent drop in operating profit to £195.5m from the first half of 2021 as it dealt with “challenging” market conditions and tighter FCA regulations. Profit [...]
Pearson goes back to normal after Covid and announces higher sales and operating profit August 1, 2022 Pearson announced stronger sales growth and operating profit for the first half of 2022 as it reaffirms expectations for the full year. The education company’s underlying sales growth grew 6 per cent to £1.8bn as British and international examinations normalised after Covid disruptions. The company’s adjusted operating profit rose by £33m to £160m due to [...]
Headspace: Why imposter syndrome grips even the high-flying July 30, 2022 Each month City A.M.’s mental health columnist Alejandra Sarmiento writes about the Square Mile’s often-taboo subjects – and how you can deal with them Franz Kafka is best known today as one of the most influential writers of the 20th-century. The author of masterpieces such as “The Metamorphosis” and “The Trial,” Kafka was, in fact, [...]
BAE Systems post revenue over £10bn with Saudi deals a tenth of this as new chair brought in July 28, 2022 BAE Systems reported higher sales and revenue for the first half of 2021 helped by work with Saudi Arabia as it met market expectations and announced a new Chair from next year. The defence company’s sales were up 2.8 per cent from the previous year’s first half to £10.6bn as its revenue climbed 4.3 per cent [...]
Augmented reality set to give Formula E racegoers a taste of Saudi’s natural wonder July 28, 2022 Formula E, the global all-electric racing championship, will land at the ExCel Centre this weekend, but it won’t just be the sleek lines of the racing cars that attract racegoers’ attention. Saudia, the Saudi Arabian airline, will host an ‘augmented reality’ zone that promises to take attendees to the Kingdom via ‘underwater’ tours of the [...]
Cryptocurrencies continue to struggle July 27, 2022 In association with Luno. Bitcoin’s (BTC) recent strong momentum stalled in the middle of last week, and the price has been drifting back towards the $20k mark after hitting highs above $24k last week. The leading cryptocurrency by market capitalisation has hovered around $21k since Monday, down almost 10 per cent over the past 7 [...]
Provident Financial’s growth-as-expected prompts City firm to issue interim dividend July 27, 2022 Provident Financial announced solid growth in line with market expectations for the first half of the year and is set to recommend an interim dividend of 5p per share. The specialist banking group’s continuing profit before tax was at £54.3m compared to £63.5m in the first half of 2021 which the company said showed growth [...]