ESG Telegraph
  • Home
  • Latest News
  • Environment
  • Companies
  • Investors
  • Governance
  • Markets
  • Social
  • Regulators
  • Sustainable Finance
Featured Posts
    • Companies
    M&S tries to address criticism of rebuilding plans for flagship store
    • August 19, 2022
    • Latest News
    Investors fret over durability of summer rally in US markets
    • August 19, 2022
    • Companies
    Privatising water was never going to work
    • August 19, 2022
    • Latest News
    Cineworld prepares for US bankruptcy filing
    • August 19, 2022
    • Companies
    WWE: body-slammed boss dives out as new champ grapples sale rumours
    • August 19, 2022
Featured Categories
Belarussia
View Posts
Companies
View Posts
Energy
View Posts
Environment
View Posts
Food
View Posts
Governance
View Posts
Health
View Posts
Investors
View Posts
Latest News
View Posts
Markets
View Posts
Potash
View Posts
Regulators
View Posts
Russsia
View Posts
Social
View Posts
Supply Chain
View Posts
Sustainable Finance
View Posts
Technology
View Posts
Uncategorized
View Posts
ESG Telegraph ESG Telegraph
7K
9K
4K
1K
ESG Telegraph ESG Telegraph
  • Home
  • Latest News
  • Environment
  • Companies
  • Investors
  • Governance
  • Markets
  • Social
  • Regulators
  • Sustainable Finance
  • Companies

SSP positive despite Omicron hit

  • February 4, 2022
  • Staff
Total
0
Shares
0
0
0

This article is an on-site version of our City Bulletin newsletter. Sign up here to get the newsletter sent straight to your inbox every weekday

Travel café operator SSP said its recovery remained on track in spite of softer trading in January due to the spread of the Omicron variant.

The owner of chains including Upper Crust, Ritazza and Camden Food Co reported sales of around 57 per cent of 2019 levels in the past eight weeks. In the preceding nine weeks sales had been running at 66 per cent of pre-pandemic levels.

The company said underlying ebitda was positive and net cash flow was broadly neutral during the first quarter of the financial year ending September. It reiterated a target of returning to pre-pandemic levels of like-for-like sales and profitability by 2024.

Tell me what you think. Email us at [email protected]

Briefly

Mail delivery group DX said its auditor Grant Thornton has tendered its resignation over concerns about the company’s handling of a corporate governance investigation. DX said the inquiry, announced in November 2021, “has not proceeded as expediently as initially hoped by the board”. In its resignation letter Grant Thornton complained of potential law breaches, inaccurate information and insufficient access. Aim-quoted DX suspended its shares last month after failing to deliver an annual report on time. The non-executive directors put in charge of the inquiry, Paul Goodson and Ian Gray, resigned from the board earlier this week.

Shaftesbury, the West End landlord, said a recovery is on track as disruption from Covid restrictions abates. For the quarter to December Shaftesbury has collected 88 per cent of its rent roll.

Fresnillo, the Mexican precious metals miner, announced the death of its honorary chair Alberto Baillères. “The board extends its deepest condolences to the Baillères family and would like to thank Don Alberto for his leadership, impeccable record and extraordinary legacy, which will live forever among all our collaborators. We will carry on with his vision and honour his legacy,” it said in a statement.

Beyond the Square Mile

Amazon shares surged in after-hours trading after the company announced a 17 per cent price rise for its popular Prime membership scheme and strong earnings from its cloud computing and advertising divisions.

US stocks slid in the regular session with the S&P 500 falling 2.4 per cent and the Nasdaq Composite shedding 3.7 per cent, its worst day since September 2020, driven by drops in tech stocks. Huge swings in tech stocks including Meta, PayPal and Snap around earnings this week pointed to what investors said was a dramatic recent deterioration in liquidity, hindering their capacity to transact large batches of shares.

The Federal Reserve must reverse the weakening of bank stress tests, writes Sheila Bair, a former chair of the US Federal Deposit Insurance Corporation. “Big banks will argue that they did well during the pandemic so there is no need to toughen their oversight. In truth, they did well because of actions by the Fed and Congress to backstop debt markets, while providing trillions to help households and businesses.”

Thanks for reading. If you have friends or colleagues who might enjoy this newsletter, please forward it to them. Sign up here

Recommended newsletters for you

The Lex Newsletter — Catch up with a letter from Lex’s centres around the world each Wednesday, and a review of the week’s best commentary every Friday. Sign up here

Unhedged — Robert Armstrong dissects the most important market trends and discusses how Wall Street’s best minds respond to them. Sign up here

Total
0
Shares
Share 0
Tweet 0
Pin it 0
You May Also Like
Read More
  • Companies

M&S tries to address criticism of rebuilding plans for flagship store

  • Staff
  • August 19, 2022
Read More
  • Companies

Privatising water was never going to work

  • Staff
  • August 19, 2022
Read More
  • Companies

WWE: body-slammed boss dives out as new champ grapples sale rumours

  • Staff
  • August 19, 2022
Read More
  • Companies

How Tiger Global withdrew its claws when the tech bubble burst

  • Staff
  • August 19, 2022
Read More
  • Companies

Dating apps should spark love across the political divide

  • Staff
  • August 19, 2022
Read More
  • Companies

DD and Marky Mark walk into a gym . . . 

  • Staff
  • August 19, 2022
Read More
  • Companies

Tensions with Moscow test Latvia’s welcome for Russian media exiles

  • Staff
  • August 19, 2022
Read More
  • Companies

EU braced for legal challenges to rules designed to tackle Big Tech

  • Staff
  • August 19, 2022

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Featured Posts
  • 1
    M&S tries to address criticism of rebuilding plans for flagship store
    • August 19, 2022
  • 2
    Investors fret over durability of summer rally in US markets
    • August 19, 2022
  • 3
    Privatising water was never going to work
    • August 19, 2022
  • 4
    Cineworld prepares for US bankruptcy filing
    • August 19, 2022
  • 5
    WWE: body-slammed boss dives out as new champ grapples sale rumours
    • August 19, 2022
Recent Posts
  • Net zero targets: Ask what you can do for your country . . . 
    • August 19, 2022
  • UK health body calls for upgrade to sewage system as beaches close
    • August 19, 2022
  • How Tiger Global withdrew its claws when the tech bubble burst
    • August 19, 2022

Sign Up for Our Newsletters

Subscribe now to our newsletter

ESG Telegraph
  • Home
  • Privacy Policy
  • Guest Post
  • Contact

Input your search keywords and press Enter.