Tory backbenchers warn Boris Johnson to drop lockdown soon or face leadership challenge January 14, 2021 Boris Johnson has been warned by lockdown-sceptic Tory backbenchers that he will face a leadership challenge if he does not “set out a clear plan for when our full freedoms will be restored”. Former Brexit minister Steve Baker said to a group of Tory backbenchers that “it’s inevitable the Prime Minister’s leadership will be on [...]
More gloom on the horizon for UK high street, think tank warns January 14, 2021 There is more gloom on the horizon for the beleaguered UK high street in the first half of this year as lockdown restrictions weaken consumer confidence, according to the latest research. The KPMG Ipsos Retail Think Tank forecast that retail health will fall by two points in the first three months of the year, as [...]
‘Phantom roles’ may mask the true state of the UK job market January 14, 2021 Last month, the Office for National Statistics (ONS) painted a bleak picture of the UK job market with the hospitality and retail sectors being in a particularly bad shape. ONS data showed the biggest-ever year-on-year decline in job vacancies in those sectors as the number of open positions fell by 49 percent and 52 per [...]
Google completes $2.1bn Fitbit takeover after antitrust probe January 14, 2021 Google today said it has completed its $2.1bn (£1.5bn) takeover of Fitbit, more than a year after the deal was announced. The tie-up was subjected to a lengthy investigation by regulators amid concerns about Google’s market power and the use of people’s health data in targeted advertising. But the European Commission last month cleared the [...]
Weinstein prosecution of A&O partner scrapped because of ill health January 14, 2021 Proceedings against an Allen & Overy partner that relate to an NDA agreement he helped negotiate on behalf of Harvey Weinstein have been scrapped. The Solicitors Disciplinary Tribunal (SDT) has permanently stayed proceedings against Mark Mansell because he is suffering from ill-health. Medical experts on both sides agreed the continuation of proceedings, and in particular [...]
888 to beat profit expectations as betting shop closures accelerate shift to online gambling January 14, 2021 Online gambling platform 888 Holdings expects to beat profit and revenue expectations for last year after more customers signed up while betting shops were closed during the coronavirus pandemic. 888 said today that revenue and adjusted earnings before interest, tax, depreciation and amortisation will be “moderately ahead” of previous forecasts. The betting site said the [...]
US unemployment claims surge as Covid-19 cases ravage economy and jobs January 14, 2021 US unemployment claims surge as Covid-19 cases ravage economy and jobs
Grab raises $300m to fund financial services expansion January 14, 2021 Southeast Asian ride-hailing app Grab has raised $300m (£220m) to help fund further expansion of its rapidly-growing financial services arm. The series A funding round was led by South Korea’s Hanwha Asset Management, while existing investors K3 Ventures and GGV Capital also participated. Grab, which also offers food delivery services, said the cash injection followed [...]
SRA backs down on high profile sexual misconduct case January 14, 2021 The Solicitors Regulation Authority (SRA) has decided not to appeal a High Court ruling that followed a high-profile case featuring jagerbombs, a magic circle law firm and alleged sexual misconduct. The SRA will not appeal a High Court ruling in favour of an ex-Freshfields partner who allegedly took advantage of a junior colleague. The SRA [...]
Brexit: Michel Barnier says new UK-EU border friction here to stay January 14, 2021 Much of the post-Brexit trade disruption and regulatory issues in the past two weeks will not be fixable, according to the EU’s chief Brexit negotiator Michel Barnier. Barnier said today that many things “changed for good” when the UK left the EU’s single market and customs union on 31 December, adding that “there are mechanical, [...]