Retailer AO to create 650 new jobs due to ‘sustained’ surge in online shopping August 21, 2020 Online electricals store AO will create 650 new UK jobs as it ramps up growth plans following a sustained surge in demand due to the coronavirus pandemic. The firm said it is preparing for “significant growth” after it saw an influx of customers shopping online during the Covid-19 crisis. The new roles will bolster AO’s [...]
Williams F1 team bought by US investment firm Dorilton Capital August 21, 2020 Formula One racing team Williams has been bought by US-based investment firm Dorilton Capital in a deal that marks the end of an era for the family-run group. The team will continue to race and compete under the Williams brand, and will remain at its base at Grove in Oxfordshire. The deal received the unanimous [...]
Ovo pays out £1.2m over SSE’s missed smart meter targets August 21, 2020 Ovo Energy has paid £1.2m to the industry regulator after SSE Energy Services, which it acquired in January, missed smart meter installation targets. Energy suppliers are required to meet annual targets to install gas and electricity smart meters, as the government aims to roll out the technology to all homes and small businesses by the [...]
JP Morgan prepares to launch UK digital bank next year August 21, 2020 JP Morgan Chase is reportedly preparing to launch an online bank in the UK early next year. The investment bank is finalising plans to open its UK challenger bank in the first quarter of 2021, according to Sky News. It has signed up suppliers to provide cloud and digital banking infrastructure, including Amazon Web Services [...]
Top 25 law firm DAC Beachcroft seals £65m deal with HSBC and Lloyds to provide ‘firepower’ during covid downturn August 21, 2020 UK top 25 law firm DAC Beachcroft has sealed a £65m financing deal with Lloyds and HSBC to help give it the “firepower” to push through the covid-downturn. The London-headquartered law firm, which has 19 offices and more than 2,600 people around the world, said it boosted its finance facility to ensure its plans for [...]
Talktalk worst performing broadband provider for customer satisfaction August 21, 2020 Talktalk was the worst performing broadband provider for customer satisfaction last year, according to the latest research by the UK telecoms watchdog. A survey by regulator Ofcom found that overall satisfaction levels among Talktalk customers were lower than average, with an approval rating of 78 per cent. Customers were also less satisfied than average with [...]
CBI: UK manufacturing sector remained ‘depressed’ in August August 21, 2020 The UK manufacturing sector remained “depressed” in August although the downturn eased, according to a new survey that showed new orders rising only slightly month on month. The CBI’s monthly industrial trends survey’s measure of orders rose to minus 44 in August from minus 46 in July. It was below economists’ expectation of a rise [...]
Brexit negotiations: Deal ‘will not be easy to achieve’ August 21, 2020 The UK’s chief Brexit negotiator David Frost said an exit deal with the European Union “will not be easy to achieve,” following the latest round of talks. “We have just concluded the seventh round of negotiations with the EU. As I said last week, agreement is still possible, and it is still our goal, but [...]
Crossrail opening delayed until 2022 and extra £1.1bn needed to finish project August 21, 2020 The opening of London’s new Crossrail underground line has been delayed until 2022 and an extra £1.1bn is needed to complete the project, Crossrail Ltd said today. Crossrail said the central section of the Elizabeth Line between Paddington and Abbey Wood will be ready to open in the first half of 2022. Crossrail has faced [...]
Number of UK workers on furlough falls to 6.8m August 21, 2020 The number of UK employees on furlough fell from highs of almost 10m to 6.8m at the end of June as the coronavirus lockdown eased and staff returned to work. The latest government statistics showed that the number of people being paid through the coronavirus job retention scheme dropped sharply in June as some businesses, [...]