Virgin Money’s profits plummet as the lender braces for a £501m surge in bad loans stemming from the pandemic Virgin’s annual profits have fallen by 77% to £124m, results today have revealed End of furloughing and more mass job cuts on the cards next year Lender also thinks the housing market could slow once stamp … Read more
Investors piled into Capita after a cost-cutting plan offset some of the losses it racked up from the pandemic. Around £100million was wiped off the government contractor’s turnover in the three months up to the end of September. It brought in revenues of £803million, down from £902million in the same period last year. Around £100million … Read more
Fashion house Burberry set to see profits drop by almost 80% after coronavirus batters luxury sales By Daily Mail City & Finance Reporter Published: 21:50 GMT, 8 November 2020 | Updated: 21:51 GMT, 8 November 2020 Fashion house Burberry is set to see profits drop by almost 80 per cent after the pandemic battered luxury … Read more
Fund titans blacklist BP over green shift: Fidelity among City investors deserting oil giants – as clean energy plans fuel profit fears By Harriet Dennys, Financial Mail On Sunday Published: 21:50 GMT, 31 October 2020 | Updated: 21:50 GMT, 31 October 2020 Major City investors are blacklisting oil giants including BP over fears their plans … Read more
Pizza Express will axe 1,300 jobs after increased Covid curbs hit profits even further – two months after announcing 73 UK restaurants would close Pizza Express will cut around 1,300 jobs across its UK restaurants, its bosses say It comes after the chain announced in August it would close 73 of its restaurants By James … Read more
Deutsche Bank is finally back in the black with a surge in bond trading pushing profits to £162m By City & Finance Reporter for the Daily Mail Published: 22:11 GMT, 28 October 2020 | Updated: 22:11 GMT, 28 October 2020 Deutsche Bank has dragged itself into the black for the first time since early last … Read more
Bloomsbury posts best first-half profits in 12 years after coronavirus crisis boosted online sales By Daily Mail City & Finance Reporter Published: 00:36 GMT, 28 October 2020 | Updated: 00:47 GMT, 28 October 2020 Bloomsbury has posted its best first-half profits in 12 years after the coronavirus crisis boosted online sales of books and ebooks. … Read more
Serco announces £25m profits boost after landing contract extensions to provide Test and Trace sites and call handlers – a day after anti-Covid system’s worst ever week Outsourcing giant Serco said it expects a trading profit of £160m to £165m Bosses said this was ‘an indication of customer’s satisfaction with quality work’ Before the extension to … Read more
Looming jobs crisis casts cloud over Asos despite its profits quadrupling during the pandemic By Tom Witherow For The Daily Mail Published: 21:52 BST, 14 October 2020 | Updated: 21:52 BST, 14 October 2020 ASOS quadrupled its profits as it gained 3m customers during the pandemic. The online retailer estimated that one in every one … Read more
Aldi announces plan to open 100 new UK stores creating 4,000 jobs as profits surge by 49% in a year The discount supermarker plans to pump £1.3billion of investment into the UK Aldi’s expansion is part of a long-term plan to grow its portfolio to 1,200 stores It will open 100 more supermarkets and create … Read more