Barclays chief executive CS “Venkat” Venkatakrishnan has announced that the bank will become “simpler, better and more balanced” in a much-anticipated update on its restructuring plans. It revealed this morning …
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Petra Diamonds predicts slow recovery in diamond prices
Petra Diamonds now expects a slower recovery in diamond prices, reporting earnings before interest, taxes, depreciation, and amortisation (EBITDA) of $38.9m (£31m) in the second half of 2023, down from …
Scottish affordable house builder Springfield Properties latest to feel the pain of property slowdown
A Scottish house-building company is the latest to be financially bruised by last year’s slowdown in property sales. This morning, publicly listed Springfield Properties said revenue slid by 25 per …
Kemi Badenoch stand-off with ex-Post Office boss escalates as he defends interview branded ‘full of lies’
The row between former Post Office boss Henry Staunton and business secretary Kemi Badenoch ratcheted up another notch, as the row over compensation for sub-postmasters continues. This follows a major …
FTSE 100 live: London dips amid China concerns as Barclays jumps on restructuring
Concerns over the Chinese economy sent London’s FTSE indexes slightly lower on Tuesday morning despite a strong performance from Barclays. The FTSE 100 dipped 0.08 per cent to trade at …
‘We were wrong’: Coffee brand pulls out of Tesco after learning ‘simple truth’
The boss of an independent coffee brand has opened up about the decision to pull its products from the shelves of Tesco. Roastworks has been available at Tesco shops across …
Regulator launches investigation into baby formula market
The Competition and Markets Authority (CMA) has launched a market study into the supply of baby formula in the UK. The CMA investigation, which was launched today, came off the …
Copper mining giant Antofagasta posts jump in full-year profit but disposals hurt earnings
Anglo-Chilean miner Antofagasta has ridden a more stable copper price through 2023 to a boost in full-year revenues. The firm’s revenue and earnings before interest, taxes, depreciation, and amortisation (EBITDA) …
Barclays unveils plan to return £10bn to shareholders and cut £2bn in costs by 2026
Barclays has unveiled a drop in annual profits as the bank undergoes a sweeping restructuring designed to save £2bn in costs and return £10bn to shareholders by 2026. It revealed …
Plus500 rolls out £138m shareholder return despite trading slowdown
Retail trading platform Plus500 topped market expectations and announced plans to put $175m (£138m) back in shareholders pockets today despite a squeeze on revenues and profits over the past year. …