Bunzl: FTSE 100 giant gears up for more dealmaking and share buybacks October 24, 2024 Bunzl said it was gearing up for another spate of dealmaking today as it bought back another tranche of its shares and reported a boost in earnings over the summer. In a trading update for the period since June, the FTSE 100 outfit said it had recorded a 5.4 per cent lift in revenues over [...]
London Stock Exchange Group beats expectations in ‘particularly strong quarter’ October 24, 2024 The London Stock Exchange Group beat market expectations today as it reported a bump in growth across its divisions in a “particularly strong quarter”. In the three months to the end of September, the owner of London’s stock market recorded gross profits of £1.92bn, up 8.5 per cent on the same period last year and [...]
Home REIT set to pay off Scottish Widows debt in step toward closure October 23, 2024 Scandal-hit homeless housing investor Home REIT said it was on the cusp of paying off its debts to Scottish Widows this morning after offloading swathes of its property portfolio at cut prices this year. In an update to the market today, the former FTSE 250 firm said it had sold another 11 per cent of [...]
Building societies demand a say on government’s industrial strategy October 23, 2024 A group of Britain’s biggest building societies and mutuals have demanded a seat on the council shaping the government’s industrial strategy as ministers prepare to unveil a team of executives to oversee the plans. In a letter to business secretary Jonathan Reynolds, seen by City AM, a group of four trade groups including the Association [...]
Who is Pam Kaur? Meet HSBC’s first female finance chief October 22, 2024 HSBC broke new ground today as Pam Kaur became the bank’s first female chief financial officer since its foundation in Hong Kong in 1865. The promotion will make Kaur one of the most senior women in global banking and hand her responsibility for slashing the bank’s cost base while shepherding it through a major corporate [...]
‘Incredible undervaluations’: Why this boss thinks the time is right to float on AIM October 22, 2024 A new acquisition vehicle announced plans to float on AIM last week despite a barrage of warnings over its future ahead of the budget. Its boss, Iain McDonald, tells City AM why. In a letter to the City minister, Tulip Siddiq, last month, the boss of the London Stock Exchange had some stark words on [...]
Reeves tax raid ‘risks harming UK economy’, top business groups warn October 21, 2024 Some of the country’s top business groups have warned that Rachel Reeves’s rumoured plans to ditch a slew of tax breaks for entrepreneurs at the budget “risk harming” the economy and dissuading founders from setting up companies in Britain. In an open letter to the Chancellor today, four business groups representing over 1200 UK founders and investors, [...]
London Stock Exchange Group sacks US staff member over ‘racist’ video October 18, 2024 The London Stock Exchange Group has sacked one of its staff after a “concerning video” was shared online. In a Linkedin post, the FTSE 100 firm said today it had been made aware of a video involving one of its US staff members and it had now fired the person. “You may be aware of [...]
William Hill and 888 owner Evoke posts first revenue growth since 2022 October 18, 2024 The owner of William Hill and 888 said its turnaround strategy was working today as it posted its first quarter of revenue growth since the start of 2022. In a trading update on its third quarter, the gambling firm said it had notched revenue of £417m over the period despite a 13 per cent slide [...]
Government set to bring buy-now pay-later firms under FCA regulation October 17, 2024 The Treasury is set to unveil its plans for buy-now pay-later rules tomorrow in a move that could end years of uncertainty surrounding the regulation of the sector, City AM has learned.
