Fitness startup Classpass becomes a unicorn with $285m funding round January 8, 2020 Fitness startup Classpass today announced the close of a $285m funding round, pushing its total value past $1bn. The round, which was led by L Catterton and Apax Digital, means that the American company has joined the ranks of the so-called unicorns, startups which have raised more than $1bn in funding. Read more: Puregym expands [...]
Iran plane crash: Ukraine U-turns on engine failure as cause of Boeing 737 crash January 8, 2020 Ukraine’s embassy in Iran has dropped a reference to engine failure as a cause of the Boeing 737 plane crash that killed 176 people earlier today. Iranian state media had initially reported that “technical issues” were behind the disaster after the Boeing 737-800 crashed shortly after taking off from Tehran’s international airport. Read more: Iran [...]
On a roll: Greggs employees to get £7m bonus after ‘exceptional year’ January 8, 2020 Greggs has said it will give staff a special £7m bonus payment following a “phenomenal” year when the launch of its wildly popular vegan sausage roll helped bring in a higher than expected profit. In a trading update issued this morning, Greggs raised its profit forecast for the 12 months ending 28 December 2019, calling [...]
Both black boxes from crashed Ukranian plane found in Iran January 8, 2020 Both black boxes from a Ukranian airliner that crashed just outside Tehran early on Wednesday have been found, according to Iranian state television. The Ukraine International Airlines Boeing 737-800 crashed earlier shortly after taking off from Tehran’s Imam Khomeini airport this morning, killing all 176 people on board. Read more: Iran plane crash: Three Brits [...]
Ofcom plans to ‘supercharge’ rollout of full-fibre broadband January 8, 2020 Ofcom will “supercharge” British investment in full-fibre broadband by encouraging more competition in cities and supporting BT to roll out faster speeds in rural areas. In a new five-year plan set out today, Britain’s telecoms regulator proposed the introduction of different regulatory regimes for rural and urban areas. Read more: Broadband speeds are increasing but [...]
Retail CVAs decline as landlords push back against plans January 8, 2020 The number of retailers using company voluntary arrangements (CVAs) to rescue their businesses slumped last year due to backlash from landlords, as administrations spiked in December. The use of CVAs declined 24 per cent from 38 in 2018 to 29 in 2019 as landlords increasingly push back against rent cut requests by struggling retailers. Read [...]
EU chief von der Leyen: Time too short for comprehensive post-Brexit deal by 2021 January 8, 2020 The new head of the European Commission has said there will not be enough time for the UK and European Union to reach a comprehensive trade agreement by the end of 2020, saying the two sides “must prioritise”. However, in a broadly conciliatory speech at the London School of Economics this morning, she said the [...]
How will losing its London licence affect Uber? January 8, 2020 | Sponsored Uber does not appear to have the controls necessary to run a wide-scale transport service and assure passengers and authorities of adequate safety standards. Despite London being one of the company’s top five markets in the world by revenue, the company has shown a marked reluctance to fully co-operate with transport authorities. Time and again, [...]
Spoonbender Uri Geller answers Dominic Cummings’ call for ‘weirdos’ January 8, 2020 Spoon-bending magician Uri Geller has applied to join the civil service after special adviser Dominic Cummings asked “misfits” and “weirdos” to become part of government. Geller, 73, started his cover letter by telling Cummings that his career to date as an entertainer had been the “perfect mask” for work in espionage. Read more: DEBATE: Is [...]
Sainsbury’s Christmas sales slip despite online boost January 8, 2020 Sainsbury’s suffered the biggest drop in Christmas sales of general merchandise since it bought Argos in 2016, as consumer demand for toys and games weakened. General merchandise sales, which includes Argos, dropped 3.9 per cent in the 15 weeks to 4 January, driving a 0.7 per cent decline in total retail sales excluding fuel. However, [...]