Revolution Bars: Chain to close 25 sites as significant restructuring plan approved August 9, 2024 Revolution Bars’s restructuring plan has been approved by the company’s major stakeholders. In an announcement published today, the company said its plan has been sanctioned by the Court and has been supported by its lenders. The group said it would close as many as 25 bar and pub locations as part of the plan. It [...]
It’s over: FTSE 100 giant Hargreaves Lansdown receives £5.4bn private equity bid August 9, 2024 Hargreaves Lansdown has finally received an official bid from potential private equity buyers that management is prepared to recommend to shareholders. The £11.10 share bid, along with a dividend of 30 pence for the end of the financial year, came after months of negotiations between the DIY platform business and the consortium of private equity [...]
Tiktok strikes gold with Team GB: 25 per cent revenue surge in UK during Olympics August 9, 2024 Tiktok’s revenue has soared since the start of the Olympics thanks to an increase in advertising spend after it launched a campaign to debut GB athletes on the platform and as audience interest in the Games has piqued. The video sharing app, which is an official partner of Team GB and Paralympic GB, has revealed [...]
More advertisers to flee X after recent Elon Musk lawsuit and riot comments August 9, 2024 Elon Musk’s antitrust lawsuit against brands that have boycotted X and his controversial activity on the platform during the recent spate of UK riots are set to exacerbate the long-held misgivings advertisers have with the site, leading industry figures have said. On Tuesday, Elon Musk’s X – formerly Twitter – filed a lawsuit against a [...]
Imane Khelif recent record as Yang Liu bout awaits controversial boxer August 8, 2024 With Imane Khelif set to fight for Paris 2024 Olympic Games gold, what does her record look like? The Algerian has faced criticism from a number of official bodies and fans with regards to her genetic make-up. Some suggest – such as the discredited Russian-led International Boxing Association – that she is in fact a [...]
How class actions became a hot trend in the UK August 8, 2024 The class action boom has made the UK a major hub for legal action - but this surge is a rising concern for business on the impacts of these mammoth claims
‘It’s not where we want to be’: Asda sales shrink as supermarket rivals eat into market share August 8, 2024 Asda’s sales have dropped again after it continued to lose market share to its supermarket rivals, according to new figures. Revenue in its second quarter of its financial year was down 2.2 per cent, with a 5.3 per cent like-for-like decline, as its sales slump accelerated. Competitors like Morrison’s, Tesco and Sainsbury’s have been slowly [...]
GAM: Swiss asset manager aims for 2026 profit despite Liontrust debacle August 8, 2024 Swiss asset manager GAM is targeting a profit in 2026 after a tumultuous couple of years that saw it reject a takeover bid from rival Liontrust. GAM reported that it had an IFRS (International Financial Reporting Standards) net loss of 39.1m Swiss francs (£26.6m) in the first half of the year, only around half of [...]
Global financial markets settle into ‘yo-yo pattern’ after Monday’s meltdown August 8, 2024 Financial markets remain jittery after a massive sell-off on Monday as analysts identify a "yo-yo pattern" of volatility across the world.
Barclays joins Wall Street rivals in scrapping EU bonus cap August 8, 2024 Barclays has become the first UK bank to remove an EU-imposed cap on bonuses for some of its top bankers and traders, bringing the firm's policies on variable pay closer to its Wall Street rivals.