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08.03.2023 - 09:34
Business
Sky News
Adidas warns of first loss in decades after split with Kanye West – as it decides what to do with mountain of unsold Yeezy trainers
Adidas has revealed plans for a huge cut to its dividend as it battles the costly fallout from its failed partnership with rapper and fashion designer Kanye West.The company admitted on Wednesday that it was still yet to decide what to do with a mountain of unsold Yeezy trainers, the legacy of its split from …
08.03.2023 - 09:25
Business
Business Live
Aggregates giant Breedon planning move from AIM to main stock market as sales hit £1.4bn
Management at Breedon Group have said they plan to move it from the AIM stock exchange to the Main Market to better reflect its “scale and heritage”. The announcement comes as new figures show the Leicestershire-based construction materials giant hit revenues of £1.4 billion last year, up 13 per cent on 2021. Pre-tax profits were …
08.03.2023 - 08:46
Business
Business Live
SIG generates big jump in underlying profit thanks to success of turnaround strategy
Construction products supplier SIG has almost doubled underlying operating profit thanks to improved trading across its UK and overseas business. The Sheffield-based plc said that, despite a squeeze on margins and inflation-driven increases in operating costs, the business underlying operating profit jumped from £41.4m to £80.2m in 2022, as underlying revenues increased from £2.29bn to …
08.03.2023 - 08:43
Business
Business Live
Insurance to loans group Admiral sees pre-tax profits slide by more than a third
Car insurance to loans group and Wales’ only FTSE 100 company, Admiral, has seen its pre-tax profits fall by a more than a third. However it said it performed well in a challenging inflationary hit insurance market – with rising claim costs – as its continues its diversification strategy of being less reliant on its …
08.03.2023 - 07:57
Business
Business Live
musicMagpie ‘very confident’ for the future as it slashes losses during tough year but revenue stalls
The boss of musicMagpie said the company remains “very confident” in its future prospects after slashing its losses during a “tough year”. The Stockport-headquartered company has posted pre-tax losses of £1.4m for the 12 months to November 30, 2022, down from the £14.8m during the previous year. However, its revenue declined slightly from £145.5m to …
08.03.2023 - 07:57
Business
Sky News
Wagamama owner to close restaurants as surge in costs drives annual loss
Restaurant Group, owner of brands including Wagamama and Frankie & Benny’s, has revealed plans to close dozens of sites while reporting a slump into the red during 2022.The company said it was aiming to cut its leisure estate by about 30% to between 75-85 sites by 2024 from 116 sites at present. That side of …
08.03.2023 - 07:30
Business
Business Live
Skills shortage sparks dedicated welding and pipefitting hub launch on Humber Bank
A welding and pipefitting hub is being launched by industry training provider Catch, with designs on taking 60 new apprentices a year. It is a direct response to an identified shortage in skills with huge infrastructure projects emerging on top of the existing need across the Humber Bank and beyond. A large workshop at the …
08.03.2023 - 07:09
Business
Sky News
Heathrow ‘considering next steps’ as airlines secure victory on passenger charges
Heathrow Airport says it is “considering its next steps” after the industry regulator ruled it must cut per passenger fees it charges airlines from next year.The Civil Aviation Authority (CAA) said Britain’s hub airport could charge an average maximum price per passenger of £27.49 over the 2022-2026 period. It marked a significant victory for airlines …
07.03.2023 - 16:19
Business
Sky News
Pensions gap between men and women ‘worsening after childbirth’
07.03.2023 - 11:54
Business
Sky News
Picturehouse founder screens deal to buy chain from ailing Cineworld
The founder of Picturehouse, the boutique cinema chain, is hatching a plan to buy it back as part of a potential break-up of Cineworld, the stricken London-listed group.Sky News understands that Lyn Goleby, who established Picturehouse nearly 35 years ago, has held discussions with Vue International about its offer to buy large chunks of Cineworld. …
07.03.2023 - 10:11
Business
Sky News
Game set and match as CVC clinches $150m stake in women’s tennis tour
The buyout firm which has struck major investments in football, rugby and motor racing is to unveil a stake in the body behind women’s professional tennis, paving the way for a shake-up of the sport’s commercial activities.Sky News has learnt that the Women’s Tennis Association (WTA) will confirm as early as Tuesday the sale of …
07.03.2023 - 09:45
Business
Sky News
Emergency coal-fired power stations to help keep lights on as cold snap raises demand
Britain’s power system operator has, for the first time ever, ordered two of five emergency coal-fired generators to produce electricity to help prevent the lights going out.National Grid ESO made the announcement hours after it activated contingency plans as a precaution over fears supplies may struggle to keep up with demand during the current cold …
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