Mobico shares jump as National Express owner reports surge in profit August 21, 2024 The FTSE 250 transport operator, formerly National Express, confirmed the sale of its struggling North American unit is underway.
Costain launches £10m share buyback as profit and backlog jumps August 21, 2024 Engineering firm Costain has kicked off a £10m share buyback after it revealed a set of strong results this morning. In its half-year results, the company revealed that adjusted operating profit had jumped 8.7 per cent to £16.3m, thanks to an increased operating margin at its transportation arm and increased revenue at its natural resources [...]
Government borrowing exceeds estimates as public sector spending jumps August 21, 2024 Monthly borrowing figures will be closely watched over the coming months for clues about how much Labour will raise taxes in October's Budget.
Klarna swoops in to buy collapsed rival Laybuy August 21, 2024 Buy-now pay-later (BNPL) giant Klarna has snapped up its collapsed rival Laybuy after the Kiwi fintech folded into receivership earlier this year, City A.M. has learned.
The pockets of London propping up the prime commercial property market August 20, 2024 The commercial prime market is, for want of a better word, doing OK. In the City, leasing increased by one per cent over its long-term average in the second quarter, while overall demand was 12 per cent below its long-term average. For a sector pummelled by downsizing amid changes to weekly working patterns, it’s not [...]
‘Right to disconnect’ plans must offer firms flexibility, experts warn August 20, 2024 The government’s plan to give workers the ‘right to disconnect’ must offer companies some flexibility when it comes to implementing the changes, experts have warned. Staff who are frequently contacted by their bosses outside of their work day could be granted thousands more in compensation cash from employment tribunals under new worker reforms, The Times [...]
Green energy plans could reduce costs for UK steelmakers, industry says August 20, 2024 Plans for the UK to become a green energy superpower could help reduce costs for British steelmaking, a supplier has said. Prime Minister Sir Keir Starmer visited a wind farm near Carmarthen, west Wales, today as part of a trip to promote his ambition for renewable power through setting up GB Energy. The public company [...]
Why bond funds just had their best month in five years August 20, 2024 Bond funds just recorded their highest monthly inflows in the last five years, as investors flocked to the safe havens in anticipation of the market crash in August. European investors poured €32.3n (£37bn) into fixed income funds during July, data from Morningstar revealed. “This surge reflects a strong appetite for fixed-income strategies amidst varied global [...]
Meta: Watchdog greenlights changes to advertiser data rules on Facebook August 20, 2024 The UK’s competition watchdog has given the green light to new commitments from Meta to better protect the data of advertisers on Facebook. Since June 2021, the Competition and Markets Authority (CMA) has been looking into whether Meta has unfairly data from its advertising services to give its Facebook Marketplace an edge over competitors. After [...]
Gold hits record high on hopes of Fed rate cut August 20, 2024 The price of gold hit an all time high of $2,513.79 (£1,932.87) per ounce on Tuesday morning as investors hope the US central bank will cut interest rates. The surge in the price of the precious metal, a safe haven asset for investors due to its real world use cases and widely held intrinsic value, [...]