Tortilla Mexican Grill’s revenues shoot up by 60 per cent after snapping up rival but inflation and industry pressures bite July 18, 2022 A Mexican food giant experienced a big spike in revenue following a key acquisition and expansion across the UK. Tortilla Mexican Grill’s group revenue was up 60 per cent in the first half of 2022 compared to 2019. This comes after the firm bought out Chilango for £2.75m, taking on its eight sites across the [...]
Airbus raises free cash flow to £3.8bn but supply chain remains ‘fragile’ October 28, 2022 Airbus has raised its free cash flow outlook to €4.5bn (£3.8bn) – up from the €3.5bn previously forecast – due to a strong dollar. In the third quarter, the EU plane maker’s revenue went up 27 per cent to €13.3bn, reaching €38.1bn for the nine months to the end of September. On the other hand, [...]
Sanctions bite: London-listed Russian mining firm Petropavlovsk to suspend trading and file for administration July 12, 2022 London-listed Russian gold mining firm Petropavlovsk will cease trading and file for administration after revealing it was unable to repay a $201m (£169.3m) loan to a sanctioned bank. Sanctions against Kremlin-linked firms continued to bite this week, with the Petropavlovsk in debt to Gazprombank, that has been targeted over the war in Ukraine. The bank [...]
DS Smith: Inflation can’t keep profits boxed up for Amazon cardboard provider June 22, 2023 DS Smith reported soaring profits and trading in line with expectations in its full year results this morning, as the package specialist continued to show strong resistance to high inflation and rising paper costs. The London-listed group – which delivers boxes and paper products to companies including Amazon and Brewdog – saw pre-tax profits up [...]
Trucking tech platform Eurowag to buy Polish rival for £265m as CFO steps down October 25, 2022 Trucking tech platform Eurowag is set to buy Polish software company Inelo for up to €306m (£265m) to strengthen its hold on the country’s market. Prague-based Eurowag said that an additional €12.5m could be paid to Inelo depending on its performance for the year ending 31 December. “This strategically important transaction not only brings additional [...]
Online retail firms in trouble as punters turn back to the high street June 19, 2023 E-commerce retailers which were bolstered by Brits stuck at home during the pandemic are now going bust, a new report shows, as the cost of living crisis continues to eat away at businesses. The number of insolvencies of UK e-commerce businesses rose 71 per cent to 529 in the past year, up from 309 in [...]
Lloyd’s of London investigates possible cyberattack October 6, 2022 Lloyd’s of London has launched an investigation into “unusual activity on its networks” that could possibly be linked to a cyberattack. The centuries-old insurance marketplace said it has “turned off” all external connectivity and has begun “resetting the Lloyd’s network and systems” as a “precautionary measure,” whilst it investigates the possible hack. “We have informed [...]
Man Group bucks investor exodus trend with £2.57bn inflows February 28, 2023 Man Group said investors pumped £2.57bn ($3.1bn) into its funds last year as it bucked an industry-wide investor exodus that has rocked many of its peers. In its full year results today, the London-listed asset manager said flows into its funds had sailed past analysts estimate and topped the industry average by 5.3 per cent, [...]
Election 2024: Sunak seeks support for Ukraine as Starmer and Streeting probed on NHS funding June 15, 2024 Rishi Sunak is to remain absent from the campaign trail for another day as Sir Keir Starmer faces questions on NHS funding.
Putin’s war mongering in Ukraine must serve as a lesson against complacency February 1, 2022 As Ukraine faces down a mounting threat of a Russian incursion, Nato has reinforced its Eastern borders in Romania and Estonia. There is a chorus of international voices calling on Putin to stand down the 100,000 troops he has stationed on the border, and we are being forced to reckon with our own complacency. But [...]