Prime Minister suggests moving Parliament to York July 16, 2020 Boris Johnson has suggested that MPs could temporarily decamp to York while the Palace of Westminster undergoes renovation, in what could count as one of the most radical shake ups to to Parliament in decades. In a letter to David Goldstone, chief executive of the Palace of Westminster’s multibillion pound restoration, the Prime Minister said [...]
Biffa eyes ‘steady recovery’ as revenues start to come back July 16, 2020 Waste management firm Biffa said it was seeing a “steady recovery” in demand for its services, with revenues last month recovering to 83 per cent of pre-coronavirus levels. In a trading update, the FTSE 250 firm said that its business had performed “slightly” better than expected over the last three months. However, it warned that [...]
Twitter bitcoin scam: Blue tick accounts blocked after massive data breach July 16, 2020 Hackers managed to infiltrate Twitter’s most notable blue tick accounts last night and send scam tweets supporting bitcoin before the social network clamped down on the breach. Bill Gates, Elon Musk and Jeff Bezos were three such accounts hackers managed to compromise. Others included Apple’s official Twitter account, with tweets typically promising to double people’s [...]
Fees plunge at Hays as coronavirus hammers hiring July 16, 2020 Net fees at recruitment firm Hays plummeted by a third in the latest quarter, as coronavirus pressed paused on hiring and caused a huge spike in unemployment around the world. The FTSE 250 company, which provides recruitment services in 33 countries globally, reported a dent in hiring in every region in the world, with the [...]
Ladbrokes owner GVC’s veteran CEO to retire July 16, 2020 Ladbrokes and Coral owner GVC’s chief executive announced his retirement today as the firm revealed coronavirus lockdowns have knocked first-half revenue by 11 per cent. Kenneth Alexander will leave the board and company tomorrow, when chief operating officer Shay Segev will replace him. The long-time CEO spent 13 years at the helm of GVC, during [...]
Time to break down the barriers holding back ethnic minority entrepreneurs July 16, 2020 The past few months have been incredibly challenging for many of us on many levels. An extended lockdown period has disrupted personal and professional lives, triggering one of the sharpest recessions in history. One positive we can point to, however, is the opportunity to sort out the structural inequalities that prevent millions from achieving their [...]
European private equity deals plunge to seven-year low July 16, 2020 European private equity deal volume plunged to its lowest point in seven years during the second quarter, with the UK suffering the greatest drop. Deal count and value dropped to their lowest quarterly figures since third quarter 203 and the fourth quarter of 2016, respectively due to uncertainty surrounding the virus. Pitchbook data shows 650 [...]
Beyond lockdown: The tech trends to watch July 16, 2020 Covid-19 has indelibly altered the way we live and work. As lockdown restrictions ease, it is vital that British businesses address the implications of the pandemic as part of their long-term strategies. However, rather than viewing this as a “restart”, companies should make the most of this opportunity to “rethink” their approach to a post-lockdown [...]
Retail restraint: John Lewis and Primark decline government help to play the long game July 16, 2020 For retail, the story of Covid-19 has been one of survival. Inevitably, the sector has looked to the government for assistance. Even the most hardened devotee of the free market has seen the Treasury’s coffers as a life belt to help companies get through the worst of the pandemic. Change and adaptation can come later. [...]
Time for an energy revolution? Creating opportunity after a crisis July 16, 2020 The Covid-19 pandemic is a tragic event we hopefully will not see again in our lifetime. The human destruction and the strain on global healthcare systems have been devastating. There are no winners from this crisis. Still, it was Winston Churchill who said “never let a good crisis go to waste”. That certainly rings true [...]