Low-budget airline suffers from tensions in the region
EASYJET has reported an £80million loss due to the conflict in Gaza and growing tension across the Middle East. The airline had to cancel flights to Israel and Jordan after the Hamas terror attack on October 7, resulting in £40million lost on cancellations and another £40million due to lost bookings in the region as passengers avoid other destinations like Egypt.
Summer optimism boosts company's shares
The carrier, which expects to cut its half-year losses, saw a rise in total revenues by 22 per cent to £3.27 billion in the first half of the year. Despite facing challenges, easyJet remains optimistic for the summer season, with CEO Johan Lundgren stating that the company is well-prepared to be one of the fastest-growing major airlines in Europe.
Consumer confidence on the rise in the UK
Consumer confidence in the UK has reached a new two-year high, with falling inflation being a key factor. The Deloitte survey shows Brits feeling better about their finances, especially among 25 to 34-year-olds. Although discretionary spending is still falling, the overall confidence has increased by 6.5 per cent.
Dunelm sees rise in sales despite market challenges
Despite a "challenging and volatile" market, soft furnishings retailer Dunelm reported a 3 per cent increase in trading to £435 million. The company attributes this rise to selling more items rather than increasing prices, with CEO Nick Wilkinson emphasizing the popularity of their affordable homewares.
Mecca sees boost in sales as bingo halls attract crowds
Bingo halls are experiencing a revival as people flock back for a night out, leading to a 12 per cent increase in sales at Mecca venues. The company reported a 5 per cent rise in visits and a 7 per cent increase in spend per visit, showing a positive trend in the entertainment industry.
Hipgnosis agrees to £1.1billion takeover by US rival Concord
Music royalties group Hipgnosis has agreed to a £1.1 billion takeover by US firm Concord. This deal includes popular back catalogues of artists like Shakira and Pink Floyd. Concord is offering additional incentives for investors if Hipgnosis founder Merck Mercuriadis steps down as an investment adviser.
Coventry Building Society offers to buy The Co-Operative Bank
Coventry Building Society has proposed a £780 million acquisition of The Co-Operative Bank after months of negotiations. The deal would return the bank to a mutual ownership structure and create a lender with an £89 billion balance sheet. Both entities will maintain their current names and branding during the transition.
Deliveroo to introduce mixed takeaway and grocery orders
Deliveroo plans to allow customers to order restaurant food and groceries together on its app. Data shows customers frequently order both within minutes of each other. The company also reported an increase in average revenue per order and total UK revenues remaining steady at £1 billion.
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