UK coronavirus death toll rises by 176 ahead of lockdown lifting in England July 1, 2020 A further 176 people have died from coronavirus in the UK, bringing the total death toll to 43,906. The Department of Health said 226,398 had been carried out in the past day. As of this morning, 9,662,051 tests have been carried out but the reporting on the number of people has been paused to “ensure [...]
Wirecard offices raided by Munich prosecutors over missing €1.9bn July 1, 2020 Wirecard offices in Germany and two locations in Austria have been raided by German prosecutors investigating the missing €1.9bn from its accounts. A spokesperson for the Munich authority said 12 prosecutors and 33 police officers are conducting searches, according to Bloomberg reports. In June, police searched Wirecard’s offices after prosecutors launched an investigation into former [...]
Schroders takes majority stake in Asian real estate firm July 1, 2020 Schroders has reached an agreement to acquire a majority stake in Asian real estate investment firm Pamfleet, which currently has $1.1bn in assets under management. The asset manager said the deal strengthened its private assets and real estate capabilities. It comes after the recent acquisition of the German real estate specialist, Blue Asset Management, and [...]
B&M maintains strong growth as sales pass £1bn during lockdown July 1, 2020 B&M European Value Retail hailed a “strong” first quarter as sales passed £1bn amid the coronavirus lockdown. The figures In the period between 29 March and 27 June, B&M reported 27.7 per cent growth in group revenue from £904.6m to £1.15bn. B&M UK revenue for the period jumped 33.7 per cent to £987.8m, with like-for-like [...]
British Land boosted by reopening of retail stores July 1, 2020 Real estate firm British Land has reported strong sales as lockdown restrictions on non-essential retail started to ease earlier this month. The pandemic seems to have had little effect on consumer confidence. In the week commencing 14 June, when restrictions started to ease, British Land reported footfall at its English assets was 64 per cent [...]
Treasury welcomes change in state aid rules for government-backed loans June 30, 2020 The Treasury has welcomed a change in banking rules that could make it easier for small firms to secure crucial government loans, like CBILS, during the pandemic. The European Commission has extended its state aid temporary framework to all micro and small companies, even if they were in “financial difficulty” on 31 December 2019. The [...]
Wirecard ‘relied on small number of customers’ June 30, 2020 Wirecard reportedly relied on a small number of customers for the majority of its sales, according to the Financial Times. An internal company spreadsheet seen by the FT lays bare the extent of Wirecard’s issues. A snapshot of the German payment processing firm’s clients in 2017 shows only 100 customers account for more than half [...]
Premier League could move or postpone Leicester home games due to lockdown June 30, 2020 The Premier League is waiting to hear whether the newly imposed lockdown in Leicester will force the club to postpone home games or move them to a new venue. The league’s chief executive Richard Masters was quizzed by MPs on the situation following the government’s decision to impose a stricter lockdown in the city after [...]
Football is in ‘rescue mode’ says Premier League boss June 30, 2020 The boss of the Premier League has said football is in “rescue mode” after restarting earlier this month. Chief executive Richard Masters said: “There is so much uncertainty. At the moment we’re in rescue mode, we’re trying to finish the season… Then we’ll turn our mind to next season”. Masters, who was appointed to run [...]
Standard Life Aberdeen boss Keith Skeoch to step down June 30, 2020 Standard Life Aberdeen today announced chief executive Keith Skeoch is stepping down after five years at the helm. The departure of Skeoch, who will be replaced by former Citigroup executive Stephen Bird, comes just months after chairman Martin Gilbert left the firm. Skeoch was one of the architects of the £11bn merger of Standard Life [...]
