Before the Bell: Details of Biden’s $1.9 trillion stimulus package January 15, 2021 Overnight, US President-elect Joe Biden revealed a stimulus package of $1.9 trillion. Ahead of the announcement there was speculation the package would be in the region of $1.3 trillion to $2 trillion. “It was at the upper end of estimates,” David Madden, market analyst at CMC Markets UK, tells City A.M. this morning. The programme [...]
Govt says it won’t lower employment rights in Brexit wake January 15, 2021 The government has rejected a report that it plans to tear up EU employment protections, which include the 48-hour working week. The deregulation is being put together by the business department with Downing Street’s blessing, the Financial Times reported, but has not yet been agreed by ministers. The main areas of focus were reportedly on [...]
Transport for London facing £2bn a year funding gap, warns report January 15, 2021 Transport for London (TfL) is facing a funding gap of up to £2bn every year as a result of Covid-19, a new report has found. The pandemic has forced passengers off London’s transport network in record numbers, causing its finances to crumble. The operator has already received two bailout deals with a combined worth of [...]
Pubs and restaurants suffer festive flop as Christmas sales slump January 15, 2021 Pubs and restaurants were plunged into festive misery as tough Covid-19 lockdown restrictions prompted a slump in sales in Christmas. UK boozers and eateries saw total sales drop by almost three-quarters during what should have been the sector’s busiest trading period of the year. Drink-led pubs and bars were worst hit, with sales down 83.7 [...]
Ladbrokes owner Entain ‘lines up’ first female gambling boss January 14, 2021 Ladbrokes owner Entain is said to be lining up the first female chief executive of a major listed UK gambling firm as it pushes back against a £8bn takeover approach from MGM. Entain, formerly known as GVC, is in advanced talks to appoint board member Jette Nygaard-Andersen as its new boss, Sky News reported. It [...]
Everyman cinemas secures rent cuts as lockdown hits January 14, 2021 Cinema group Everyman Media today said it has secured further rent concessions from landlords as it battles closures during the latest national lockdown. The upmarket chain, which operates 35 venues across the UK, said it had also focused on reducing capital expenditure and operating costs. “We remain optimistic for the coming year post-lockdown and continue [...]
AA shareholders approve £218m takeover by private equity firms January 14, 2021 The AA shareholders today approved the takeover deal
Barilla buys British fresh pasta maker Pasta Evangelists January 14, 2021 Barilla said on Thursday it had bought a majority stake in Britain’s Pasta Evangelists, re-entering the fresh pasta market and boosting its digital offering at time when the pandemic is driving demand for home deliveries of food and drinks. The companies did not disclose the financial details of the deal, but two sources close to the [...]
Paparazzi Dogs: Pack of papping pups pimp up Royal Exchange January 14, 2021 Visitors to the Royal Exchange may be hounded by some unusual guests following the installation of a pack of popular pooches. To kick off a year of celebrations marking the Royal Exchange’s 450th anniversary, the iconic City landmark will play host to the Paparazzi Dogs, a series of sculptures by contemporary artists Gillie and Marc. [...]
UK slaps travel ban on South America and Portugal over Brazil Covid mutation January 14, 2021 UK-bound arrivals from South America and Portugal will be banned from tomorrow amid mounting fears about a new Brazilian variant of coronavirus. Transport secretary Grant Shapps said the change will come into force from 4am on Friday. He announced he had made the “urgent decision” following a meeting with the government’s Covid Operations committee at [...]