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Evening Standard
When it comes to GlaxoSmithKline, Elliot is all talk, no substance
OK, I get it. Activist investors need to make a noise when they launch their assaults on companies and their boards.It’s all part of the marketing and PR they have to do to spread the word among their investors. It says: look at us – taking no prisoners in our hunt for profits.But you have …
Business
Evening Standard
PZ Cussons returns to sales growth as beauty sales see strong bounce back
Carex and St Tropez owner PZ Cussons has returned to revenue growth for the first time in seven years as boss Jonathan Myers pursues a long-term turnaround strategy. The consumer goods group said in a trading update that annual revenues were up 7% and bosses expect profits for the year to June to come in …
Business
Evening Standard
Don’t fret on inflation, Bank of England governor insists
BANK of England governor Andrew Bailey is sticking to his guns on inflation, insisting it is under control as critics snipe.Those critics lately include his own (departing) chief economist Andy Haldane who warned yesterday that inflation is rising fast and could reach 4% this year. That is double the Bank’s 2% target and above the …
Business
Evening Standard
Activist Elliott delivers bombshell attack on GlaxoSmithKline bosses
Activist investor Elliott today launched its long-awaited bombshell gameplan for how GlaxoSmithKline should be revived and heavily hinted that boss Emma Walmsley should quit, repeatedly citing management’s “lack of credibility”.Walmsley is planning to split GSK’s consumer business from its pharmaceuticals and vaccines arm, with her running the latter as chief executive. While the plan has …
Business
Sky News
Rishi Sunak says financial services deal with EU ‘has not happened’
Britain’s attempt to reach a post-Brexit financial services deal with the EU “has not happened”, Rishi Sunak has told the City.The sector was not covered in the UK’s last-minute free trade agreement when the Brexit transition period ended in December and the government has since been seeking an “equivalence” arrangement with the bloc. But in …
Business
Sky News
Primark sets sales records as shoppers snap up blazers and ditch lockdown leisurewear
Primark’s owner has said the fashion retailer set sales records after stores reopened and shoppers started to “step out of lockdown leisurewear”.The brand – which does not sell online – enjoyed a 3% like-for-like increase on pre-pandemic revenues for the weeks since the reopening, helped by popular items such as blazers. Shoppers were pictured queuing …
Business
Business Weekly
VividQ takes holographic tech global with £11m raise
VividQ has closed a super-seed extension round of £11 million to fast-track its computer generated holography to global markets. Its technology is already used in the development of next-generation digital displays and devices by manufacturers in the US, China and Japan. To date, VividQ has secured over £17m in funding. The latest investment was led …
Business
Sky News
Nissan announces £1bn ‘gigafactory’ boosting electric car production and creating thousands of jobs
Nissan has announced details of a new battery “gigafactory” that will enable its Sunderland car plant to massively increase production of electric vehicles.The Japanese manufacturer said the £1bn battery plant, built in partnership with Chinese manufacturer Envision, will create 900 jobs at Nissan plus 750 at Envision – and an overall 6,200 when the impact …
Business
Sky News
‘Sausage war’ ceasefire as UK and EU agree three-month extension
A deal to avoid a ban on sausages and other chilled meats moving from Great Britain to Northern Ireland has been agreed at the last minute.The UK and EU have announced a three-month extension to a grace period allowing their transit across the Irish Sea, hours before a ban would have come into force. London …
Business
Sky News
Dixons Carphone bets on hybrid model as online sales surge makes up for lockdown woes
There were questions, even before COVID-19, about whether selling things in traditional brick and mortar shops had much of a future.Sales in all manner of categories were migrating online and there were fears that those retailers lacking a meaningful online presence, facing additional headwinds such as business rates, would not be able to survive. One …
Business
Sky News
Supply of cars likely to become restricted due to chip shortage, dealership warns
The supply of cars for sale is likely to be restricted later this year as a result of the global shortage of semiconductor chips, a leading motor dealership has warned.Pendragon, which trades under brands including Evans Halshaw and Stratstone, is the latest to highlight how the shortage could soon filter through to consumer-facing businesses. It …
Business
Sky News
KPMG rebuilds restructuring arm months after £360m Interpath sale
The big four accountancy firm KPMG is to rebuild a unit to advise on corporate restructurings just months after selling the UK’s largest insolvency advisory business for more than £350m.Sky News has learnt that KPMG has appointed David Fletcher, a veteran in the UK restructuring market, as an associate partner in its deal advisory team. …

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