Global ETF boom continues with record inflows in first half of the year July 28, 2021 Global exchange traded funds (ETFs) attracted record inflows in the first six months of 2021, as investors poured in amid low interest rates, an equities rally and “cheap money” lending. Investors worldwide ploughed $639.8bn into ETFs between January and June, a half year record and more than double that of the same period last year, according [...]
Corruption in the City: Pinning down companies’ criminal accountability July 28, 2021 This summer marked 10 years since the UK Bribery Act 2010 came into force. Amongst many new powers granted under the law, a particularly significant one was that of the ‘failure to prevent’ corruption or bribery, under which businesses could be held liable and responsible for the actions of their subordinate, unless they had sufficiently [...]
Barack Obama joins NBA’s African arm as strategic partner and minority shareholder July 28, 2021 The National Basketball Association (NBA) has announced that former US president Barack Obama has joined its new African arm as a strategic partner. The 44th President of the United States will also own a minority stake in NBA Africa, which officials say he intends to use for Obama Foundation projects across the continent. Obama will [...]
Ineos strikes deal with New Zealand Rugby to add All Blacks to sporting stable that includes Formula 1, cycling and football teams July 28, 2021 New Zealand Rugby has announced Ineos is to become its official performance partner in a six-year deal beginning in 2022. The deal sees New Zealand Rugby’s national teams, including the All Blacks and the Black Ferns, join the growing Ineos sporting stable, which is owned by British billionaire Sir Jim Ratcliffe. They will join Mercedes-AMG [...]
CitySprint look to expand as employment drive for 600 new couriers begins July 28, 2021 CitySprint, the UK’s largest same day distribution company, has announced that it is looking for an extra 600 new couriers across the UK. The recruitment drive is in response to a significant uplift in logistics requirements, particularly around the London area. High demand for products bought online is thought to be one of the reasons [...]
One in three retail sales: Shoppers to spend record £120bn online this year July 28, 2021 Following a surge in online sales in 2020 thanks to Covid-19 and three strict lockdowns, UK shoppers are expected to further increase their spending as new data forecasts £120.5bn in online purchases this year alone. Online sales in the UK saw an increase of 46.5 per cent in 2020, with British consumers spending £110.6bn online [...]
Iceland boss: Government Covid test plan ‘pointless solution to Pingdemic’ July 28, 2021 The Iceland boss, Richard Walker, has said that the government’s Covid-19 test plan is a “pointless solution” because it excludes supermarket workers. “It’s only depot and factory workers so that only fixes half the supply chain issue,” Walker told the BBC. Despite daily testing for some sectors starting on Monday, some smaller firms have complained [...]
Deutsche Bank profit beats estimates despite trading revenue dip July 28, 2021 Deutsche Bank have today announced better-than-expected quarterly results despite a decline in its investment banking revenue. Shares in Germany’s biggest lender had gone up by 2.2 per cent in pre-market trading. It marks Deutsche’s fourth quarterly profit in a row, its longest streak in the black since 2012. The net profit attributable to shareholders in [...]
Olympics: Pool gold rush continues but disappointment in the rowing July 28, 2021 Olympic gold and silver medallists Tom Dean and Duncan Scott continued their imperious form in the pool as they combined to help Team GB win the 4x200m freestyle relay and the team’s fifth gold overall in Tokyo. The quartet came within 0.03 seconds of breaking the world record after a stunning performance that blew away [...]
Barbie doll maker warns of higher prices as costs rise July 28, 2021 The toy giant Mattel has warned of higher prices in the lead up to Christmas as the industry looks to soften the blow of rising costs. The comments come after a rise in raw materials and shipping, owing in part to the global pandemic. However, the company still posted better than expected sales figures of [...]