Value of Molten Ventures’ stake in Revolut more than doubles after employee share sale August 21, 2024 Molten Ventures said the value of its stake in Revolut has more than doubled after the British fintech secured a $45bn (£34.9bn) valuation in a share sale by employees.
Valentino: Clothes swap campaign leads to UK sales success for luxury brand August 21, 2024 A campaign by global luxury fashion brand Valentino for shoppers to trade in their clothes in exchange for vouchers helped sales jump at its UK arm during 2023, it has been revealed. Valentino’s UK arm has reported a turnover of £38.9m for the year, up from £34.3m, according to newly-filed accounts with Companies House. The [...]
Growth in food retail at highest in two years thanks to summer finally arriving August 21, 2024 After a damp start to summer, till sales growth boomed in July to record the strongest growth for food retail in two years. Total till sales at UK supermarkets grew 5.5 per cent in the four weeks ending 10 August 2024, up from 3.6 per cent in the previous month, according to fresh data by NIQ. [...]
Falling number of London taxi drivers leads to LEVC losing more than £100m August 21, 2024 LEVC is attempting to boost its net worth by £100m to combat the falling number of taxi drivers in central London and the expected further decline in its sales this year. The Coventry-headquartered electric taxi maker, which is also known as London EV Company, is in the process of increasing the value of everything a [...]
Rachel Reeves facing ‘tough choices’ after latest UK borrowing figures August 21, 2024 Already this financial year the government has borrowed £4.7bn more than predicted by the Office for Budget Responsibility (OBR) back in March.
Marv Studios: Record year for Matthew Vaughn and Claudia Schiffer’s Kingsman maker August 21, 2024 Marv Studios, the production company founded by Matthew Vaughn and Guy Ritchie, achieved the best year in its history as it surged back into the black. The firm, which is now owned by Vaughn and his wife Claudia Schiffer, has posted a pre-tax profit of £72.7m for the year to 30 June, 2023. The company [...]
Riverstone Energy share buyback programme marches on after £158m spending spree August 21, 2024 Riverstone Energy’s underlying assets per share ticked up seven per cent over the last six months, as the company continued an aggressive share repurchase programme. Riverstone’s monster share buyback programme has helped the energy-focused investment trust outperform its peer group over the past one and three years. The trust’s share price has returned 42.2 per [...]
Claridge’s Hotel: Major expansion helps sales and profit surge at five-star London icon August 21, 2024 Sales at Claridge’s Hotel surged by more than 20 per cent in 2023 thanks to a “strong” recovery from the Covid-19 pandemic and the completion of a major expansion project. The five-star London hotel has reported a turnover of £119.3m for its latest financial year, up from the £98.1m it achieved in 2022. According to [...]
Waitrose to ramp up convenience store expansion with 100 new sites August 21, 2024 The premium grocer Waitrose will expand its store portfolio by around a third over the next three years in one of its “biggest periods of expansion” as it ramps up investment into ‘Little Waitrose’ convenience shops. The Berkshire-headquartered company will invest over £1bn in a project to open 100 new stores and revamp a further [...]
Tech firm Pebble Beach Systems reports ‘strong sales pipeline’ despite market challenges August 21, 2024 Tech firm Pebble Beach Systems expects a positive year ahead as the software group reported a “strong sales pipeline” despite challenging market conditions. The firm, which specialises in playout, content management and IP control solutions for broadcast and media tech markets, reported a 21 per cent jump in Service Level Agreement (SLA) revenue to £3.1m, [...]