AO World swings to profit as working from home boosts revenue more than 50 per cent November 24, 2020 Online electricals retailer AO World swung to profit in the six months to September, as a surge in domestic appliance sales during the pandemic helped revenue rocket more than 50 per cent. The company, which sells washing machines, fridges, TVs and laptops, said sales in the six months to 30 September jumped 53.2 per cent [...]
Pets at Home remain dogged throughout pandemic as sales soar during lockdown November 24, 2020 Pets at Home has cemented itself as a rare winner during the pandemic, as the group notched double digit revenue growth in the six months to October following an “exceptional period of demand” during lockdown. The FTSE 250-listed firm thanked its allocation as an “essential” retailer during the coronavirus crisis for its 13 per cent [...]
UK economy to contract in November amid second Covid-19 lockdown November 24, 2020 The UK economy is set to suffer a significant contraction this month after Prime Minister Boris Johnson imposed a second national coronavirus lockdown. After six consecutive months of growth, the economy is expected to shrink 5.7 per cent in November, before recovering a marginal 0.3 per cent in December, according to analysis by PwC. The [...]
Sterling hits 10-week high on vaccine and Brexit deal optimism November 23, 2020 Sterling rallied to a two and a half month high today, as more positive news about a potential Covid-19 vaccine propelled investors to buy riskier currencies and offset concerns about whether Britain and the EU can clinch a Brexit trade deal. Tonight the pound is up 0.3 per cent to $1.332, while against the euro [...]
Majority of vulnerable Brits to receive Covid vaccine by Easter, says Johnson November 23, 2020 The majority of vulnerable Brits should have received a vaccine against coronavirus by Easter, Boris Johnson tonight said. Speaking in a press conference after today’s announcement of a new, tougher system of restrictions for the winter, the Prime Minister hailed the prospect of a number of working vaccines. “With a favourable wind we should be [...]
Tier 3 restrictions could be ‘nail in the coffin’ for London’s restaurants November 23, 2020 London’s chefs and restaurateurs reacted with fury and confusion today over the government’s plans to replace lockdown with a new three tier system. As shop owners and even sports stadiums prepare to start welcoming guests again, those working in hospitality say the industry has been hung out to dry, with some fearing a wave of [...]
Vaccine hopes boost Wall Street open November 23, 2020 Wall Street’s main indexes rose today as hopes that the first Covid-19 vaccine could be available within weeks renewed bets of a swift economic recovery next year. The Dow Jones index was up 0.57 per cent, a rise mirrored by the S&P 500, while the tech-heavy Nasdaq Composite index gained 0.87 per cent. The US [...]
Coronavirus lockdown: Central London retail footfall plunges 80 per cent November 23, 2020 Central London retail footfall fell 80.4 per cent last week compared to 2019 levels as the England-wide coronavirus lockdown continued to take its toll on the nation’s struggling high streets. The latest data showed that the capital was the worst affected region due to the impact of home-working, the lack of domestic and international tourists [...]
MPs pile pressure on government to shed light on ‘dodgy’ PPE deals November 23, 2020 Around a dozen MPs have ramped up pressure on the government to offer clarity on its procurement of personal protective equipment (PPE) during the pandemic, as further details of opaque contracts continue to emerge. Stephen Timms MP has written to the government on behalf of the the Work and Pensions Committee following a damning report [...]
MPs to grill social media platforms over anti-vax conspiracies November 23, 2020 Social media firms are set to be hauled in front of MPs to answer questions about what they are doing to remove online misinformation about Covid-19 vaccines. The DCMS sub-committee on online harms and disinformation will next month grill executives from Google, Facebook and Twitter amid concerns over the rise of so-called anti-vax conspiracy theories. [...]