Surge in female SME owners as gender gap narrows March 8, 2020 International Women’s Day has been capped off by a report today showing a surge in the number of female owners of small and medium-sized enterprises (SME) over the past year. The analysis of more than 1.4m small businesses revealed the number of SMEs owned by women rose 31 per cent in 2019, according to SME [...]
Can interest rate cuts help economies deal with coronavirus? March 8, 2020 Last Tuesday, the coronavirus outbreak drove the US Federal Reserve to do something it hadn’t done since the 2008 financial crisis: slash interest rates in an emergency move. Fed chair Jay Powell said rate-setters had “come to the view that it is time for us to act in the support of the economy”. The economic [...]
British fashion giant Stella McCartney swings to £11m loss March 8, 2020 British fashion label Stella McCartney swung to an £11m pre-tax loss in 2018 as the fashion house’s costs skyrocketed. Expenses incurred by the eponymous owner Stella McCartney’s decision to buy out luxury giant Kering’s 50 per cent stake in her company, along with flat-lining sales at £42.6m pushed the brand into the red. The disappointing [...]
London broadband firm G Network eyes bumper funding boost March 8, 2020 London full-fibre broadband firm G Network is said to be seeking a huge funding boost as network providers race to roll out superfast internet connections across the UK. G Network, which targets affluent central London postcodes including Mayfair, Marylebone and Chelsea, has reportedly hired bankers from Rothschild to locate new funds over the coming months. [...]
Mining boss Beny Steinmetz hit with High Court freezing order March 8, 2020 Mining tycoon Beny Steinmetz and a company linked to him have reportedly had assets including two private jets and a yacht frozen by the High Court. Steinmetz is locked in a fight over compensation with Brazilian mining company Vale which sought the orders, the Telegraph reported. Steinmetz and five former executives from his company BSGR [...]
Serious Fraud Office looking at Lloyds Bank and KPMG claims March 8, 2020 The Serious Fraud Office (SFO) is reportedly examining allegations that Lloyds Banking Group and KPMG drove a property group into administration by saddling it with fees. Fraud office investigators have been interviewing witnesses over claims the Angel Group was deliberately driven into liquidation, the Telegraph reported. According to the report, the SFO has not launched [...]
Norwegian under scrutiny amid concerns over carrier’s debt pile March 8, 2020 A number of hedge funds have increased their bets against Norwegian Air amid concerns that the low-cost carrier could follow Flybe into bankruptcy due to the slump in demand due to the coronavirus outbreak. According to IHS Markit data obtained by the Sunday Telegraph, nearly 16 per cent of the airline’s stock is on loan [...]
Coronavirus: Tesco rations essential food and household items March 8, 2020 Tesco has begun rationing essential food and household items as shoppers stockpile amid the coronavirus outbreak. Customers are limited to buying no more than five of each of the rationed goods, including antibacterial gels, wipes and sprays, dried pasta and UHT milk. The rules apply both in store and online. Waitrose has also reportedly introduced [...]
Real estate charity cyclists in 1,500km Regent’s Park ride after Mipim relay cancelled over coronavirus worries March 8, 2020 Cyclists from the real estate sector are trying to cover 1,500km around Regent’s Park this week after a planned charity relay to the Mipim conference in Cannes was cancelled over coronavirus fears. The annual Cycle to Mipim ride was cancelled after the real estate bonanza, which was set to take place in the south of [...]
Number 10 mulls over tax on over-40s to cover social care costs March 8, 2020 Plans are being considered by the government to implement a new tax on over-40s to help fund their own old age care. The new plan, reportedly being pushed by health secretary Matt Hancock, would see workers over the age of 40 pay 2.5 per cent of their income to pay for their future old age [...]