Exercise startup Peloton narrows losses November 5, 2019 Fitness startup Peloton narrowed its losses in its first quarter despite pushing forward with expansion plans and investment in its online platform. The company posted a loss of $49.8m (£38.71m) in the three months to 30 September, reducing the figure by $4.8m on the previous year as the firm continued to target international growth. Read [...]
UK PLCs suffer ‘worst quarterly results in years’ November 4, 2019 The UK’s publicly listed companies have suffered their worst quarter on average in nearly three years, according to a new report. More than half of UK firms listed on the main market have reported lower profits for the second consecutive quarter, collectively falling 4.5 per cent in the first drop since 2016. Read more: ECB [...]
Channel 4 to furlough staff in £245m coronavirus cost-cutting plan April 8, 2020 Channel 4 today said it will furlough 10 per cent of staff and implement pay cuts for executives as part of a plan to save £245m during the coronavirus crisis. The broadcaster warned the TV ad market was expected to plummet 50 per cent in April and May as brands pull their campaigns during the [...]
CFOs hold increasingly pessimistic outlook amid backdrop of uncertainty November 14, 2019 Over a third of Europe’s finance chiefs feel gloomier about their companies’ prospects now than they did three months ago. According to accountancy group Deloitte, 36 per cent of Europe’s chief financial officers feel more pessimistic today than last quarter, underlining current concerns over the future of the global economy. Read more: UK businesses increasingly [...]
Investors question firms’ game plans as risks multiply November 13, 2019 Public companies are facing greater heat from investors over their long-term game plans, according to a new corporate survey. A growing number of investor relations officers (IRO) are reporting higher levels of scrutiny from shareholders over the direction in which their listed firms are heading. Read more: Has Wework destroyed Softbank’s credibility? Governance issues such [...]
Life after lockdown: Returning to the classroom won’t be straightforward for our vulnerable children June 24, 2020 2020 is not the year anyone expected. The coronavirus pandemic has upended the lives of millions: people have lost jobs, been furloughed or taken pay cuts, and purse strings have tightened as a result. The impact has been especially hard on this country’s disadvantaged families — in particular, children’s education. It is a challenge I [...]
Airbnb hires Morgan Stanley and Goldman Sachs to lead stock market listing October 3, 2019 Airbnb is reportedly preparing to hire Morgan Stanley and Goldman Sachs to advise on its planned stock market debut next year. The short-term rental company is considering going public through a direct listing rather than an initial public offering (IPO) in mid-2020, according to Reuters. Read more: Airbnb plots direct listing instead of traditional IPO [...]
The fight against tax crime and money laundering March 31, 2020 There is no such thing as a victimless crime. The devastation financial crime causes is real and often affects some of our country’s poorest and most vulnerable communities. Tax crime costs the UK economy tens of billions of pounds every year. In order to prevent this, HMRC works closely with UK law enforcement agencies and [...]
Duolingo bags unicorn status after Google cash injection secures $1.5bn valuation December 4, 2019 Language-learning platform Duolingo has joined the ever-growing ranks of tech unicorns, reaching a valuation of $1.5bn (£1.1bn) thanks to funding from Google’s venture capital arm. The US firm today announced it has bagged $30m in a Series F round led by existing investor Capital G – a private equity fund owned by Google parent company [...]
Insurance industry must improve corporate culture, Bank of England warns November 5, 2019 The Bank of England sent out a warning to insurance bosses today, demanding that they improve workplace culture following a spate of sexual harassment revelations. In a “dear CEO” letter written to corporate heavyweights in the insurance industry, the Bank’s Prudential Regulation Authority (PRA) flagged recent instances of alleged abuse as of “deep concern”. Read [...]