BUSINESS LIVE: Domino’s firm to file for bankruptcy in Russia


BUSINESS LIVE: Domino’s firm to file for bankruptcy in Russia

The FTSE 100 will open at 8am. Among the companies with reports and trading updates today are DP Eurasia, Crest Nicholson and Liontrust. Read the Monday 21 August Business Live blog below.

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National Trust under pressure to ditch Barclays

The National Trust has come under pressure from the grandson of one of its biggest donors over its relationship with Barclays – and the bank’s links with the fossil fuel industry.

Dominic Acland said his grandfather Sir Richard Acland, an environmentalist who gave his 17,000-acre ancestral estates to the charity in 1944, would have been ‘horrified that the National Trust is banking with Barclays’.

Financial jobs defy gloom to hit record high

The number of jobs in the UK financial services industry has hit a record high – in a sign that much of the gloom about the sector has been misplaced.

City minister Andrew Griffith said it showed the industry was ‘a jewel in Britain’s crown that even the doomsters cannot deny’.

Crest Nicholson slashes profit forecast

British housebuilder Crest Nicholson has lowered its annual profit expectations in the wake of challenging trading conditions as high interest rates and sticky inflation drove homebuyers away.

The FTSE 250 housebuilder said transaction levels across the industry weakened further, particularly in recent weeks, as mortgage borrowing turned more expensive.

‘The group does not therefore expect to see a material improvement in trading conditions before its year end at 31 October 2023,’ it said.

The company now expects full year adjusted profit before tax to be around £50million.

Domino’s firm to file for bankruptcy in Russia

London-listed master franchise for Domino’s Pizza , DP Eurasia, which runs operations in Turkey, Russia, Azerbaijan and Georgia, will file for bankruptcy of its Russian business.

The group said: ‘With the increasingly challenging environment, DPRussia’s immediate holding company is now compelled to take this step, which will bring about the termination of the attempted sale process of DPRussia as a going concern and, inevitably, the Group’s presence in Russia.

‘A bankruptcy petition of DPRussia will be filed in accordance with the relevant statutory requirements in due course.’