Latest news with #financiallosses
Malay Mail
7 hours ago
- Malay Mail
Scam losses hit RM1.12b in six months as authorities tighten crackdown
KUALA LUMPUR, Aug 14 — Financial losses from online scams amounted to RM1.12 billion between January and June this year. According to a written reply published on the Parliament website, the Home Ministry said that to curb such crimes, the National Scam Response Centre (NSRC), in operation since October 12, 2022, has been strengthened as a one-stop centre and has been operating round the clock since July 1. This allows victims to lodge reports directly via the 997 hotline without having to go to a police station. 'After nearly three years of administrative operation, the Prime Minister, while chairing a special meeting of the National Cyber Security Committee (JKSN), agreed that the NSRC should be placed under the purview of the Home Ministry and led by the Royal Malaysia Police (PDRM),' the reply stated. The response was to a question from R. Yuneswaran (PH–Segamat), who asked about the total financial losses suffered by Malaysians due to online scams up to July this year. The ministry added that other measures to curb scams include international cooperation, proposals to amend the Penal Code to address cybercrime cases, and the Semakmule 2.0 portal initiative to help the public check the status of bank accounts, phone numbers and companies potentially involved in fraudulent activities. — Bernama
Yahoo
06-08-2025
- Business
- Yahoo
Papa Johns closes 74 restaurants in UK
Papa Johns has announced the closure of 74 UK restaurants following a challenging period that saw its pre-tax losses increase to £21.8m in the financial year 2024, up from £19.2m in 2023. The pizza chain, which is the second-largest in the UK, experienced a downturn in sales from £95.9m to £88.6m - a continuation of a decline from an £8.1m profit in 2021 when sales stood at £102.3m. By the end of the 2024 financial year, the number of Papa Johns' locations in the UK had reduced from 524 to 457. The company attributed the closures to a mix of geopolitical issues, staffing shortages and rising costs. Despite these challenges, the brand managed to open seven new stores in 2024. In a statement, Papa Johns said: "In 2024 we continued to navigate the effects of global disruption: ongoing geopolitical issues, staffing shortages and rises in commodity costs. "Whilst there was an improvement in consumer confidence, this remains below pre-pandemic levels with consumers more cost-conscious and more risk-averse." By March 2024, the company confirmed the closure of 43 locations following a consultation, with the shutdowns taking place in mid-May. An additional 31 stores were closed during the year, although the full list of closures has not been disclosed. In January 2025, Papa Johns informed investors of its plans to shut down more underperforming stores to enhance profitability. Amidst the closures and increasing losses, Papa Johns UK managing director Chris Phylactou expressed optimism on City AM's Boardroom Uncovered show, stating the business is "no longer losing money" and anticipates a return to profit during 2025. The first Papa Johns restaurant in the UK opened in 1999, and by 2013, the brand celebrated its 200th UK store. In 2023, the chain closed 22 outlets but also opened 15 new locations. Its net income for the first quarter of 2025 stood at $9.3m - a significant $5.6m drop from the $14.9m reported in the first quarter of the previous year. "Papa Johns closes 74 restaurants in UK" was originally created and published by Verdict Food Service, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
The Sun
04-08-2025
- Business
- The Sun
Papa John's shuts 74 branches after being hit heavy losses – has your local closed?
PAPA John's has had a tough year, closing 74 restaurants in the UK. It comes just months after The Sun revealed that up to 100 sites faced the chop. 1 Today, the company announced that its losses before tax rose to £21.8 million, up from £19.2 million last year. Sales also dropped from £95.9million to £88.6million, continuing to fall since its last profit of £8.1million in 2021, when sales were £102.3million. By the end of the financial year, the company had 457 UK locations, down from 524 the year before. The closures were blamed on geopolitical issues, staff shortages, and rising costs. Despite this, the chain still managed to open seven new stores last year. A Papa Johns statement said: "In 2024 we continued to navigate the effects of global disruption; ongoing geopolitical issues, staffing shortages and rises in commodity costs. "Whilst there was an improvement in consumer confidence, this remains below pre-pandemic levels with consumers more cost-conscious and more risk averse." Despite the closures and mounting losses, Papa John's UK managing director Chris Phylactou remains optimistic about the future. Speaking on City AM's Boardroom Uncovered show, he said the business is now "no longer losing money" and expects to return to profit in 2025. Last January, Papa Johns told investors that it plans to close more underperforming restaurants to improve profits. By March 2024, the company confirmed that 43 locations would shut down following a consultation process, with closures set for mid-May. Huge restaurant chain 'up for sale' putting 70 sites at risk of closure It has now been revealed that 31 more stores were closed last year. While the full list of closures hasn't been shared, the 43 locations that shut last May are known. Papa John's is the UK's second-largest pizza takeaway chain. Domino's, the chain's biggest rival, operates at 1,253 locations and Pizza Hut 150. Papa Johns' first British restaurant opened in 1999 in Grays in Essex after the brand went international. But by 2013, it celebrated the opening of its 200th UK store. The pizza chain closed 22 restaurants in 2023 but opened new branches in 15 locations. Which Papa Johns sites closed in 2024? Barnsley, South Yorkshire Bebington, Merseyside Bexhill, East Sussex Billericay, Essex Bromley, Greater London Coulsdon, Greater London Cricklewood, Greater London Darlington, County Durham Doncaster, South Yorkshire Durham, County Durham East Dulwich, Greater London East Grinstead, West Sussex Eastbourne, East Sussex Hailsham, East Sussex Harringay, Greater London Harrogate, North Yorkshire Hendon, Greater London Horsham, West Sussex Lancaster, Lancashire Leeds Meanwood, West Yorkshire Liverpool West Derby Road, Merseyside Middlesbrough, North Yorkshire Mottingham, Greater London Northwood Hills, Greater London Peacehaven, East Sussex Peckham, Greater London Penge, Greater London Putney, Greater London Redhill, Surrey Rochdale, Greater Manchester Rotherham, South Yorkshire Ruislip, Greater London Runcorn, Cheshire Scunthorpe, North Lincolnshire Sittingbourne, Kent Southport, Merseyside St Helens, Merseyside Stoke Newington, Greater London Tunbridge Wells, Kent Upminster, Greater London Watford St Albans Road, Hertfordshire Whitton, Greater London Wimbledon, Greater London HOSPITALITY WOES The hospitality sector has struggled to bounce back after the pandemic, facing challenges including soaring energy bills, inflation and staff shortages. In January 2023, Byron Burger fell into administration with owners saying it would result in the loss of over 200 jobs. Around 12 branches were saved in a rescue deal with Tristar Foods, which is owned by Calveton. The Restaurant Group (TRG), which owned Frankie & Benny's, Chiquito and Wagamama, shut dozens of sites in the same year. It then went on to sell its Frankie & Bennys and Chiquito brands to Cafe Rouge owner The Big Table group in September 2023. Italian restaurant chain Prezzo also closed dozens of sites in the same year. In April 2024, Tasty, the owners of Italian restaurant Wildwood and Dim T, a pan-Asian restaurant, announced plans to exit 20 loss-making restaurants. In the same month, Whitbread revealed plans to slash its chain of branded restaurants across the UK. Meanwhile, TGI Fridays was forced to close 35 locations immediately after falling into administration last October. However, 51 restaurants were rescued through a last-minute pre-pack deal with private equity firms Breal Capital and Calveton UK. In June, The Sun revealed how Pizza Hut is rolling out new digital ordering screens across all 136 of its dine-in restaurants, a move that could make over 100 staff members redundant.
Yahoo
29-07-2025
- Business
- Yahoo
UBS orders bankers to scale back sale of complex currency products
UBS has ordered bankers to scale back sales of complex currency derivatives after clients suffered heavy losses linked to Donald Trump's Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
29-07-2025
- Business
- Yahoo
UBS orders bankers to scale back sale of complex currency products, FT reports
(Reuters) -UBS has ordered bankers to scale back sales of complex currency derivatives after its clients suffered heavy losses due to U.S. President Donald Trump's "Liberation day" tariff announcements, the Financial Times reported on Tuesday. Reuters could not immediately verify the report. UBS did not immediately respond to a request for comment. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
