Business

Kering, the luxury goods company owned by Francois-Henri Piault, issued a profit warning due to a decline in demand for its flagship brand Gucci. The Paris-based company, unlike its competitors in the same sector who have done better,…

Santander UK's boss warned that Britain is becoming an unattractive investment destination due to high taxes, amid increasing pressure on the Chancellor. Mike Regnier told the MPs that Santander UK's chief executive, Mike Regnier, said…

Tesco will drop the blue-and-yellow logo it uses to promote its Clubcard program. This rebrand could cost Tesco almost £8m after it lost an appeal over a ruling it copied a Lidl design. Legal experts say Lidl has the right to sue for…

Investors buy shares in European travel, luxury and retail goods, betting on a recovery of the economy to encourage consumers to spend more on expensive holidays and items. Renault and Stellantis, two carmakers, have both risen by more…

Tata Steel announced abruptly that it would cease operation of coke ovens in its Port Talbot facility in South Wales. This move was condemned as a "massive strike" by a union. Steelmaker Tata said that it made the decision due to a…

Deloitte launched its biggest global overhaul in 10 years as it seeks to reduce costs and the complexity of the organisation in light of an anticipated market slowdown. Deloitte will reduce its five main business units from 2014 to just…

Saudi Arabia, Gucci and Kering-owned Gucci are said to be in a race for Selfridges after the bankruptcy of the department store co-owner triggered a battle over the business. According to sources in the City, both Saudi Arabia's Public…

Mike Lynch, one of the UK’s most successful entrepreneurs in the tech sector, will be on trial on Monday in San Francisco, 13 years after the "largest fraud in Silicon Valley's history", as described by US prosecutors. Lynch, who sold…

News of the sale of shares comes as owner of beer tries to reclaim all American reputation After a backlash due to an ad campaign featuring a female transgender influencer, the owner of Marlboro cigarettes will sell $2.2bn of shares…

Lego warned that the bottom line of its business would continue to be under pressure in 2019. In 2023, the Danish plastic brick manufacturer, founded in 1932, and still family-controlled, posted revenues of 65.9 (£7.55billion), up by 2…

Admiral Group has defied a listless FTSE 100, after a City broker praised Britain's largest car insurance provider. Berenberg analysts believe that despite the nervousness of investors that prices for motor insurance will drop, the City…

Nationwide Building Society reached an agreement with Virgin Money to purchase it for £2.9bn. This deal would make Virgin Money a stronger competitor to the UK’s largest banks. After a failed attempt to enter business banking during the…

William Hill's owner is considering leaving the US gambling market because of "intense" competition and high operating costs. 888 announced that it has ended its partnership, which was with Authentic Brands Group (owner of Sports…

Antonio Simoes told his colleagues in the weeks leading up to his formal debut as the new Chief Executive of Legal & General to the City that he has three priorities: To listen, listen, listen. He has stated that his parents worked…

The Falkland Islands government has selected the shipyard responsible for building the Titanic as its preferred bidder to win a £120million contract for a new Falkland Island port. The Falkland Islands government selected Harland &…

IWG, the owner of Regus serviced offices, saw its revenues reach a record £3.34billion last year, as it benefited from the increasing popularity of hybrid work. Mark Dixon, IWG’s CEO and founder, stated that more people are returning to…

Berenberg has issued a call to investors who have suffered for BT. Berenberg questioned whether the shares of the telecoms company, which had fallen 15 percent since the beginning of the year, were too low. The mood at BT is tense. There…

Apple was fined €1.8billion (£1.54billion) by European regulators because it stifled competition from rival music streaming services. Spotify has won a major victory in the long-running battle with Apple regarding rules that were placed…