The City’s financial watchdog is understood to be reviewing trading volumes in THG after comments made by boss Matt Moulding last week during trading hours could have been interpreted as market-sensitive information (The Times £). In an interview at the GQ Heroes event last Thursday, Moulding, appeared to hint he could take the ecommerce business private.
The company’s share price increased 5.7% in early trading three days after THG’s chief executive Matt Moulding told a conference that he should not have listed the business in London (The Mail). However, it retreated following the initial boost and closed trading 2.5% down at 198.7p on Monday.
’Matt Moulding: The billionaire THG boss facing a reality check’, runs the headline for a BBC News article about the ongoing saga.
WPP has won a lucrative pitch to handle Coca-Cola’s marketing work around the globe (The Times £). The London-based advertising giant claimed the contract - which will see it create campaigns for Coca-Cola’s drinks brands, Innocent smoothies and Costa Coffee - was the largest in the history of the industry.
Early Christmas shopping, more cinema trips and increased overseas travel boosted UK retail sales and consumer spending in October (The Financial Times £).
Consumers starting their Christmas shopping earlier than usual amid concern over supply chain shortages and rising prices helped to drive a recovery in UK retail sales last month, industry figures show (The Guardian).
Global greenhouse gas emissions from agriculture and food production have risen by 17% over the past 30 years, according to UN data, underscoring their importance in limiting climate change (The Financial Times £).
The independent inquiry into how hundreds of post office workers were wrongfully accused of theft, fraud and false accounting as a result of computer errors has been urged to demand immediate compensation for those affected (The Guardian).
Andrew Bailey has insisted that the Bank of England will raise interest rates if expectations of higher inflation drive up wages (The Times £).