Financial

The executives at Lyft are left with a red face after a typo was found in the financial results of the ride-hailing service. This led to a nearly 70 per cent increase in its share price. Lyft announced that it would grow its margins by a…

Centrica's recovery has been aided by the energy crisis. The profits for British Gas' owner were nearly £2.8 billion in 2018. This is a drop from the £3.3 billion record set in 2022 but still second in group history. British Gas was one…

After The Body Shop went into administration and put more than 2,000 job at risk, landlords are preparing for a wave closures. Aurelius, a private equity firm, put the UK branch of the ethical cosmetics brand, which has around 200…

The logistics company of the Barclay family has been merged into the startup that purchased Tuffnells from administration last year. Yodel is one of Britain's largest parcels delivery services. It will combine with Shift to exit the…

Official figures reveal that local authorities in the UK, who were in dire need of cash after Liz Truss’s disastrous mini-budget of 49 days ago, took out huge 50-year loans with soaring interest rates. The government's Debt Management…

EY piled more than $700mn of extra debt on to its global operating business to deal with the costs of the failed plan to spin off its consulting arm, according to newly filed accounts. The figures, made public at the UK’s Companies House…

The London-listed manufacturer of Lucky Strike cigarettes and Dunhill cigarette is looking to reduce its £15 billion shareholding in an Indian conglomerate. This has triggered a sharp rise in the price of its shares as investors welcomed a…

AstraZeneca's long-serving chief executive vowed that the future of Britain’s largest drugs group was "never healthier", as it predicted another year of double digit growth. However, the shares fell as core earnings did not meet market…

Adam Neumann claims to have Wall Street backing in order to purchase WeWork from bankruptcy. He was fired after accruing billions of dollar losses. Neumann's lawyers sent a letter on Monday to WeWork saying that he had "partnered" with…

US private equity firms rush to capitalize on lower borrowing costs, by putting debt onto their portfolio companies. They then use the cash they generate to pay dividends both to themselves and to their investors. In January, corporate…

Emirates Airline's head has warned Boeing that it is in the "last-chance saloon", as he prepares to send his engineers to oversee Boeing's production line after witnessing the long decline in the  manufacturing performance. Sir Tim Clark…

The administrator of the company that is at the heart of Rene Benko’s crumbling property empire said only €250mn out of €5.26bn in debt had been secured by tangible assets. This raises new questions about the amount of money lenders can…

Yesterday, St James's Place shareholders were shocked by disappointing quarterly inflows as well as plans for an operational review. The market was digesting news that net inflows totalled £770 million in the December quarter, a slower…

The UK financial watchdog has revealed the extent of its investigation into historical commission agreements which led to consumers paying more than they should have in transactions dating back to 2007. The Financial Conduct Authority…

Bitcoin's value has dropped by 15 percent in the last two weeks as investors have taken advantage of the launch of the bitcoin exchange traded fund earlier this month. They are taking profits and selling their volatile cryptocurrency.…

The UK government borrowed less in December than was expected, which is a boon to chancellor Jeremy Hunt’s plans to reduce taxes in advance of the expected general elections this year. According to the Office for National Statistics, the…

British Steel is expected to suffer increased losses due to the rising energy and raw materials prices following Russia's invasion in Ukraine. In its delayed 2021 accounts, published just last week, Britain's second largest steelmaker…

Apple paid Rbs1.18bn (12.3mn dollars) to the Russian state budget after a Moscow court found it guilty of abusing the App Store's dominant position. FAS, Russia’s anti-monopoly regulator, announced Monday that it had received payment in…