(Bloomberg) — Here’s the key business news from London-listed companies this morning.
Boohoo Group Plc: The fast fashion retailer has named a new CFO, nabbing Shaun McCabe from Trainline Plc.
- It is, however, McCabe’s experience as International Director at rival website Asos Plc and as CFO for Amazon Europe that makes him appear a good fit for the role.
888 Holdings Plc: Growth in the gambling company’s European markets has been offset by tougher restrictions to improve the safety of gambling, as well as a temporary exit from the Dutch market.
- The company also started a notes offering, which will help fund its purchase of William Hill’s international operations, expected to close at the beginning of next month.
Naked Wines Plc: The online bottle shop expects to break even this year, although it warned that sales could decline.
- The e-commerce start-up said it has moderated its investment as it tackled the inflationary environment.
Outside The City
Voters are heading to the polls for two special by-elections today, Boris Johnson’s first electoral test since facing a confidence vote earlier this month.
Meanwhile, the nationwide rail strike is continuing today after the RMT union said yesterday that talks had failed.
In Case You Missed It
The UK must make moves over the next couple of months or it will lose its chance to take the lead on crypto, former Chancellor Philip Hammond warned.
That’s as Brexit is still depressing UK assets and making it harder to recover from this year’s global market meltdown. The pound has dived nearly 10% in 2022 to be one of the worst-performing major currencies, sterling company bonds are on the longest losing run ever and years of stock malaise has made UK Plc cheap for takeovers.
Looking Ahead
Closely-watched retail sales data tomorrow may hint at the extent to which Britons are willing to use their savings amid the biggest squeeze on incomes in a generation.
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