Pound drops against dollar as Bank of England keeps interest rate at record low November 4, 2021 Pound sterling has fallen by almost one per cent against the dollar to $1.36 after a shock decision by the Bank of England to hold rates at 0.1 per cent. It fell similarly against the Euro by 0.51 per cent to €1.172. The market movements follow the surprise decision by the BoE to leave interest [...]
Devolver Digital hits almost £805m valuation as shares surge on AIM debut November 4, 2021 US video game maker Devolver Digital made a shining debut on London’s junior AIM market this morning, as shares surged more than 15 per cent. After listing at a placing price of 157p per share this morning, pitching its market cap at almost £700m, Devolver’s shares surged to 181p per share at midday, pushing its [...]
Breaking: Bank of England holds rates at 0.1 per cent despite rising inflation November 4, 2021 The Bank of England has held the interest rate at 0.1 per cent despite fears of runaway inflation. The Monetary Policy Committee voted 7-2 in favour of the move. This is a breaking story and will be updated.
GameStop gets new $500m asset-based credit facility November 4, 2021 Videogame retailer GameStop Corp said on Thursday it entered into a new $500m global asset-based revolving credit facility with a syndicate of banks
Hikma expects trading to hit top end of guidance amid global vaccine growth November 4, 2021 Hikma Pharmaceuticals today said it expects its full year performance to be closer to the top end of its guidance after its global vaccine products delivered strong growth. Delivering a trading update this morning, the London-based manufacturer projected full year generic pharmaceuticals revenue to be in the range of $810m to $830m. It also expects [...]
Customer demand drives Aston Martin to third quarter recovery November 4, 2021 Luxury sports car manufacturer Aston Martin has seen its year-to-date revenues almost treble, rising 173 per cent to £736.4m. Rising wholesales, driven by customer demand as the economy recovers from the pandemic, has led the company into a positive adjusted EBITDA position. It has enjoyed a £190m improvement on last year’s totals, as the adjusted [...]
Top finance brass: City grandees need to show off green stripes to rake in bonuses November 3, 2021 City grandees will need to show off their green stripes to rake in bumper bonuses, some of the finance industry’s top brass said today. The chief of one Britain’s biggest banks, part state-owned NatWest, sent a warning shot to the bank’s top dogs that their environmental track record will be considered when awarding bonuses. Speaking [...]
No pocket money: PM to oversee worst disposable income growth in 70 years November 3, 2021 The current Tory government will oversee the worst rate of disposable household income growth out of any parliament over the last seven decades. Brits’ will only receive a 0.5 per cent jump in their real incomes under Boris Johnson’s government, research by the economic think tank the Resolution Foundation has found. A combination of severe [...]
Ex-Barclays chief Staley to receive £22m bonus windfall November 3, 2021 Former Barclays chief Jes Staley who quit this week to fight the findings of a report into his relationship with convicted sex offender Jeffrey Epstein is in line receive bonuses of up to £22m. The American banker could receive around 11m shares in the bank he headed for six years if it hits performance goals [...]
Smurfit wraps up third quarter with 15 per cent rise in revenue November 3, 2021 Packaging titan Smurfit Kappa Group has wrapped up its third quarter with revenues rocketing 15 per cent year-on-year, reaching $7.287 billion. The group’s EBITDA has enjoyed a comparative year-on-year growth of 10 per cent to €1.235bn, with a margin of 17 per cent The company has approved €600m of investments in projects across the business [...]