Amazon shareholders told to rebel on boss’s pay packet May 6, 2022 One of the world’s top shareholder groups has told Amazon investors to vote against a proposed pay hike for boss Andrew Jassy and the re-election of board director Judith McGrath at the firm’s annual general meeting this month.
InterContinental Hotels makes steady progress to 2019 levels as travel booms May 6, 2022 InterContinental Hotels (IHG) said that pent-up demand had driven people back on holiday, with revenue up 61 per cent and catching up with pre-pandemic rates. For Europe, the Middle East and Africa, revenue per available room (RevPAR) hit 122 per cent compared 2021, whilst the Americas were up 58 per cent. With America leading the [...]
McColl’s appeals for rescue deal: Administration ‘increasingly likely’ unless solution can be found May 5, 2022 Convenience store giant McColl’s has said it is “increasingly likely” it will be forced to call in administrators unless an immediate rescue deal can be cinched. Responding to press speculation, the London-listed firm said that “unless an alternative solution can be agreed in the short term, it is increasingly likely that the group would be [...]
New Sports Direct boss asserts Mike Ashley is ‘not pulling the strings’ amid of price increase warning May 5, 2022 Sports Direct’s new chief has asserted that the retailer’s former boss and his future father-in-law is “not pulling the strings.” In his first interview since stepping into Mike Ashley’s shoes as chief executive of Frasers Group, Michael Murray warned prices would likely go up. The high street titan was facing headwinds “going through the roof,” [...]
Thousands of Asda warehouse workers back strike action over pay dispute May 5, 2022 Asda workers have voted in favour of strike action in a consultative ballot, with the GMB union saying staff were being “asked to swallow a real terms pay cut.” In a ballot of 8,000 GMB members, covering driver, warehouse and clerical roles, some 95 per cent indicated they were in support of industrial action. Staff have [...]
Seraphine: Maternity brand adored by Kate Middleton sees shares plunge as hefty headwinds loom May 5, 2022 A maternity brand whose clothes have been flaunted by Kate Middleton has seen its shares plunge almost 40 per cent after a gloomy forecast. Shares in Seraphine plummeted some 38 per cent on Thursday as the digital-led fashion brand lowered its expectations for the coming year amid war in Ukraine and other macroeconomic headwinds. The [...]
Consumers buying more beer as Budweiser maker AB InBev reiterates growth outlook May 5, 2022 Budweiser maker Anheuser-Busch InBev (AB InBev) said drinkers are swallowing higher prices and bought more beer in the first quarter. After posting higher than expected earnings, the Belgian brewer reiterated an EBITDA growth outlook of between four and eight per cent for the full year. Consumers had bought 2.8 more drinks by volume in the [...]
London and the City Through Our Readers’ Eyes May 5, 2022 | Sponsored We are pleased to announce that Aquis Exchange PLC launches an exciting competition today for you to capture Canada on your camera. Aquis is offering City PM readers the chance for two people to go to one of London’s prestigious fine dining eateries Boisdale, where you will be able to dine on [...]
Sales boost for Next as shoppers take back to the high street May 5, 2022 High street giant Next saw a boost in sales in the first quarter of the year it continues to feel the lift of stores reopening after covid lockdowns.
Slice of VAT: Domino’s Pizza’s UK sales drop as budgets tighten May 5, 2022 Domino's reported VAT hikes taking a slice of the pizza this morning, with UK & Ireland system sales down 1.5 per cent in the first quarter to £365.9m.
