Bank of London shakes up City advisers after row with taxman September 9, 2024 The Bank of London launched an emergency effort to contain the controversy surrounding the fintech over the weekend as it was hit with a winding-up petition over unpaid taxes shortly after its chief executive stepped down.
Inpost’s rapid expansion set to continue as more Brits switch to postal lockers September 6, 2024 Polish firm Inpost launched in the UK in 2013 with 100 lockers. Earlier this year, it celebrated its 7,000th locker. Inpost works by operating a set of lockers across a country, which work with the country’s postal service to deliver parcels to and from the lockers. Customers can then pick up or drop off the [...]
‘Madness’: Sky News moves Ian King Live out of Square Mile September 5, 2024 Sky News’ flagship business programme, Ian King Live, has left its iconic Square Mile address, relocating to Sky Group’s headquarters in Osterley, City A.M. has learned. The channel initially moved its business operations to 10 Fleet Place in September 2019, where it shared a studio with sister channel CNBC Europe. However, according to correspondence seen [...]
More than 750 jobs at risk as Bakkavor set to axe major UK factory September 5, 2024 More than 750 jobs are at risk at the fresh food maker Bakkavor after the London-listed group said it would close one of its North West factories. The company, which is headquartered in London, said today it was looking at axing its Wigan facility after a review revealed it would need “significant investment” to continue [...]
CAB Payments posts slump in profit as currency shifts drag down earnings September 4, 2024 Fintech CAB Payments has reported a slump in profit for first half of 2024 as currency shifts continued to weigh on its earnings.
How retailers like ASOS, H&M and Zara are fighting back against ‘serial’ returns September 3, 2024 ASOS has become the latest retailer to change their returns policy as firms increasingly try to fight back on costly high-frequency takebacks – as well as outright fraud. In an email to its premier and non-premier members, the popular fashion giant shared that it would be updating its Fair Use Policy foe “select customers” in [...]
Midwich: Tech distributor posts solid growth despite headwinds September 3, 2024 Audio and TV distributor Midwich has defied broader market headwinds to post a double-digit rise in gross profit and improved revenue numbers. The Norfolk-based firm, which has been a constituent of London’s Aim market since 2016, grew by 7.5 per cent at constant currency in the six months to June 30, raking in £446m in [...]
Getbusy: Productivity software firm’s shares sink as growth slows September 3, 2024 Shares in productivity software provider Getbusy plunged nearly 11 per cent on Tuesday morning after it disappointed investors with its half-year results. Annual recurring revenue (ARR) grew less than £1m in the first six months of 2024 to £21m and net cash tumbled to £0.2m, down from £1.7 last year, which Getbusy said reflected “a [...]
Meet the fund managers: Sticking by ESG as it falls out of fashion September 2, 2024 In this weekly series, investment reporter Elliot Gulliver-Needham sits down with a fund manager for a Q&A. This week, we’re hearing from Yolanda Courtines, manager of the Wellington Global Stewards fund. What makes the fund stand out from its competitors? We have 35 to 45 names in the portfolio, with a history of high returns [...]
MTI Wireless Edge reports jump in profit thanks to demand for military tech August 21, 2024 Telecommunications firm MTI Wireless Edge has reported a jump in profit as strong demand for military antennas and 5G continued throughout the first half of the year. MTI Wireless Edge, which specialises in multi-sector communication and radio frequency solutions, reported no movement in revenue in its interim results today, which remained “level” at $22.3m (£17.1m). [...]