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Evening Standard
Halma chief goes out on a record high of £1.5 bn sales
The boss of safety and medical equipment giant Halma is to step down after 18 years at the helm after the firm announced record results.Departing chief executive Andrew Williams told the Standard the firm was starting to feel the bite of supply chain disruption and rising inflation.“Like many others we recognise that costs are going …
Business
Business Live
Firm established by late South African billionaire businessman buys shares in B&M
A firm established by a late South African billionaire businessman and an investment giant has bought a stake in B&M. Orbis Allan Gray Limited has snapped up a 5% stake in the Merseyside-headquartered business. The move makes it one of the largest shareholders in the discount retail giant. READ MORE: Investment companies decide against making …
Business
Business Live
First five businesses announced for KPMG and Nexus Leeds incubator space
KPMG and Leeds University’s Nexus have announced the opening of their incubator space with advisory support for scaleup businesses. KPMG@Nexus is now home to five businesses: Hero Wellbeing, Caterpillar Health, enteruptors, Work And Communications and Uplift 360, and the programme is open to interest from other businesses. The resident firms will have access to commercial …
Business
Business Live
North Shields robotics and AI firm secures £1.6m investment in latest funding round
A robotics firm that builds products for the construction industry has secured £1.6m in a funding round. North Shields-based Q-Bot says the funding – which has come primarily from existing investors and was led by EMV Capital – will allow it to ramp up rollout of its robot which remotely applies underfloor insulation beneath suspended …
Business
Evening Standard
Another profit warning at ASOS as new CEO arrives
ASOS had a busy day today, announcing a profit warning, a new chief executive and chairman, and reporting that customers are returning items like never before.The fast fashion house says profits for the year will be between £20 million and £60 million, far below previous guidance of £110 million to £140 million.New CEO José Antonio …
Business
Sky News
Bank of England raises interest rate and signals sharper hikes ahead
The Bank of England has raised interest rates for the fifth time in a row to 1.25% and set the scene to act more “forcefully” ahead because of a mounting inflation threat.There had been speculation of a more aggressive tightening after the sharpest rate hike since 1994 of 0.75 percentage points was imposed by counterparts …
Business
Sky News
Food inflation to get worse over summer and prices to stay high, shoppers warned
Food inflation is set to accelerate over the summer, an industry group has warned, with higher prices expected to stay until the middle of next year.The Institute of Grocery Distribution has predicted a peak for food inflation of 15% in the coming months led by meat, cereal, dairy, fruit and vegetable products. Its study forecast …
Business
Evening Standard
Influencer agency Billion Dollar Boy cashes in on marketing revolution
Edward East was such a big fan of Pharrell Williams that when the American rapper launched a fashion label called Billionaire Boys Club, East bought the domain name BillionDollarBoy.com, “with the hope that one day down the line it may catch his attention and lead to an introduction.”That didn’t happen – but the name stuck, …
Business
Evening Standard
Company founders quit the office for a leisurely life
Company founders are selling up in droves after pandemic-driven lifestyle shifts prompted them to quit the office in favour of a leisurely life.Emma Keeling, COO of Corbett Keeling, which helps sell private companies, said the volume of enquiries from sellers had reached an all-time high.She told the Standard: “Many CEOs have spent the last 20 …
Business
Sky News
How the interest rate rise will affect mortgages
More than two million households face increased mortgage payments following the latest Bank of England interest rate rise, which experts say could create more “mortgage prisoners”.The Bank rate rose from 1% to 1.25% in a bid to tackle rising inflation. Borrowers who have variable mortgage rates – those that move in line with the Bank …
Business
Evening Standard
Bank of England poised for interest rate rise as it fights inflation
What will the Bank of England do tomorrow?Raise interest rates for sure, the question will be by how much. Does the Bank’s nine-strong rate setting Monetary Policy Committee (MPC) go for the expected 0.25 point rise, taking rates to 1.25%. Or does it go for something more dramatic?What will influence its thinking?It needs to do …
Business
Evening Standard
TikTok book reviews fuel growth at Harry Potter publisher
Book review videos posted to TikTok have led to a boom in sales for Harry Potter publisher Bloomsbury.Chief executive Nigel Newton told the Standard: “It’s not just driving sales but huge sales. Books which are 10 years old are becoming bestsellers.”Videos posted with the #booktok hashtag has a combined 58.2 billion views on TikTok, with …

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