Rio Tinto warns of heavy $400m hit to earnings as Covid-19 hampers production July 16, 2022 Rio Tinto has warned COVID 19-related labour shortages and rising inflation would damage its earnings in the second half of 2022.
How much is too much? The CEO pay predicament April 23, 2024 A growing number of London-listed companies have been asking shareholders to approve radical pay rises for their top execs. Why?
UK accountancy watchdog fines KPMG £1.25m over audit of bar chain Revolution March 8, 2022 Britain’s accountancy watchdog today fined KPMG £1.25m over its audit of bar chain company Revolution. The UK’s Financial Reporting Council (FRC) fined Big Four accountancy giant KPMG £1.25m and former-KPMG director Michael Neil Frankish £50,000, over failures in the audit of Revolution Bars Group’s accounts for the financial year 2015/16. The fines come after FRC [...]
Prudential turns gaze to Asia in fresh £2bn share sale September 19, 2021 Insurer Prudential is planning to offer fresh shares on the Hong Kong stock exchange to raise £2bn as it continues to shift its focus away from the UK. The proceeds will be used to pay off debt and capitalise on investment opportunities in Asia and Africa, the 173-year old insurer said. Prudential will offer nearly [...]
Go-Ahead to reinstate pre-Covid dividends as new strategy focuses on accountability April 5, 2022 Go-Ahead said today it would go back to paying dividends to shareholders from fiscal year 2022, as part of its new accountability-focused strategy. Following a few troubled months, Go-Ahead’s board recommended between 50 and 75 per cent of underlying earnings per share. The group – which has recently been under scrutiny for a series of [...]
Nightcap eyes portfolio expansion as CEO ‘proves critics wrong’ after pandemic-launch January 12, 2022 Bar operator Nightcap hit £15.5m in net sales during its first full year of trading, as it lines up 25 new site openings this year. Boss Sarah Willingham, whose group owns Tonight Josephine and the London Cocktail Club, told CityA.M. she had “never been prouder” to work in hospitality than during the pandemic. The company [...]
Puttin’ on the Ritz: The business of selling luxury July 4, 2022 If you are a regular reader of this column, it is a fair bet that you enjoy—or at least have a healthy interest in—what are hoarily known as the finer things in life. I have written about cocktails, tailoring, members’ clubs, cigars, hats and a gallimaufry of luxury-associated subjects, unstinting in my recommendations and preferences. [...]
Post-COP26 beating: All eyes on mining firms today after investors dump stocks on merciless Monday November 16, 2021 Investors yesterday dumped mining stocks as the future of coal looks bleak during the first day of trading on the London Stock Exchange since the COP26 agreement was signed over the weekend. Several big names saw falls, including Evraz down 16.8p at 603.2p; BHP down 37.4p at 1923.4p; Antofagasta down 28p at 1,460p and Anglo [...]
BP follows in rivals’ footsteps with near-record £7bn quarterly profits August 2, 2022 BP has unveiled profits of $9.3bn for the second quarter, powered by soaring oil and gas prices following Russia's invasion of Ukraine.
Argo Blockchain launches IPO with sale of US shares September 14, 2021 Argo Blockchain, the only London listed crypto mining company, has launched an Initial Public Offering as it awaits approval to list on the Nasdaq exchange. Today, Argo said it had commenced the sale of 7,500,000 American Despositary Shares, equal to 75,000,000 ordinary shares. The last closing price of Argo’s ordinary shares on the London Stock [...]