Tech increase: IBM is to launch 4 new UK information centres
BACKING BRITAIN IBM has turn out to be the most recent US tech agency to decide to Britain by saying the launch of 4 information centres.
The multi-million-pound funding will improve the variety of IBM information centres within the UK from two to 6, with the following web site set to open in Fareham, Hampshire on the finish of December.
ADULTS ONLY Income at intercourse toy retailer Lovehoney have continued to extend. The Bathtub-based on-line agency noticed revenue enhance 68 per cent to £5.1million within the yr to March – helped by gross sales of its Fifty Shades Of Gray vary.
In Could, Lovehoney obtained the Queen’s Award for Enterprise in Worldwide Commerce for excellent progress in abroad gross sales.
LLOYDS SALE The Authorities has diminished its stake in Lloyds Banking Group to lower than 8 per cent following a share sale.
UK Monetary Investments, which manages the stake in Lloyds, minimize its holding within the lender by one share level.
It means the taxpayer’s stake within the financial institution now stands at 7.99 per cent, with greater than £17billion being returned to authorities coffers because the lender’s £20.3billion bailout.
All proceeds from the gross sales will likely be used to cut back the nationwide debt.
STRONG BOND Adhesives and bonding merchandise maker Scapa reported a 27 per cent rise in first half earnings to £12.7million because it was helped by the weaker pound.
The corporate, which operates throughout Europe, North America and Asia, additionally stated income grew 13.5 per cent to £135.4million. Scapa revealed that full-year figures had been prone to be forward of expectations.
STEPPING DOWN The founding father of Made.com is stepping down after seven years to ‘turn out to be an entrepreneur once more’.
Ning Li will stay a majority shareholder on the luxurious furnishings enterprise however is transferring into an advisory position, naming the corporate’s chief working officer, Philippe Chainieux, as his successor.
EARNINGS HIT Shares in insurance coverage providers firm Charles Taylor tumbled greater than 13 per cent after it warned earnings progress could be slower than anticipated.
The warning got here regardless of the corporate snapping up two closed-life insurance coverage insurance policies and a fund administration unit from Zurich Insurance coverage Group for £4million.
RIDING WAVE Marine providers large James Fisher and Sons stated enterprise was strongly forward of final yr due to a post-Brexit fall within the pound and two acquisitions.
The corporate stated offshore oil income was 6 per cent decrease within the three months to September 30, however added it benefited from diminished prices because of low oil costs.
