Half of all equity investment goes to UK tech businesses June 25, 2020 Nearly half of the total equity investment in UK SMEs last year went to tech firms, as the sector continues to remain attractive to investors. Equity investment in the UK’s tech firms increased 27 per cent to £4bn in the last year, its highest level since 2011. The growing tech sector in the UK remains [...]
Global stocks sink deep into red as second wave fears bite June 24, 2020 Global stocks plunged further into the red this afternoon as fears of a second wave of the pandemic mounted and investors worried about a slowdown in the global economic recovery. The FTSE 100 closed down 3.11 per cent as growing numbers of new infections compounded fears over a second wave of cases, sending jitters through [...]
FCA proposes assessment of pension value for money rules June 24, 2020 The financial watchdog has proposed a tightening of rules to check whether members of workplace pension schemes are getting value for money. In a consultation paper released this morning, the Financial Conduct Authority (FCA) announced it would bring forward the proposals to make it easier for Independent Governance Committees (IGCs) and Governance Advisory Arrangements (GAAs) to [...]
Crest Nicholson cuts 130 jobs as it suffers £51m loss in first half of the year June 24, 2020 Housebuilder Crest Nicholson is looking to axe around 130 jobs after reporting a £51m loss in the first half of the year. The figures Crest Nicholson suffered losses of £51m in the six months to April, compared to a £64m profit in the same period last year. Operating profit sunk 162.1 per cent from a [...]
Guinness owner Diageo launches $100m fund to help pubs reopen June 24, 2020 Guinness owner Diageo has today announced a recovery fund to help pubs and bars reopen following the coronavirus lockdown. The drinks maker will provide $100m in funding through its “Raising the Bar” scheme to major hospitality centres, including London, Edinburgh, Dublin and Belfast. Hospitality has been one of the hardest-hit sectors as the pandemic forced [...]
Gold nears eight-year high as second coronavirus wave fears grow June 24, 2020 Gold prices have climbed to their highest level in nearly eight years as investors flock to the safe-haven asset in the face of a second coronavirus wave. Spot gold is up 0.3 per cent at $1,771.75 per ounce as at 9.15am, after touching 1,773, its highest level since October 2012. US gold futures are up [...]
Premier Foods sales surge during coronavirus lockdown June 24, 2020 Mr Kipling cakes maker Premier Foods has swung to a full-year profit, after a jump in sales due to the coronavirus lockdown. The figures Premier Foods revenue for the full year edged up 2.8 per cent to £847.1m, while revenue for the fourth quarter increased 3.6 per cent. Trading profit rose 3.2 per cent to [...]
FTSE 100 rise as retail sales start to bounce back June 19, 2020 The FTSE 100 solidified this week’s gains on hopes of a swift economic recovery, after figures released this morning showed retail sales beginning to bounce back. London’s blue-chip index opened 26 points higher – 0.43 per cent – to 6,250 points, as investors began to digest a fresh round of economic data. By the afternoon, [...]
Wework makes second round of redundancies in the UK June 19, 2020 Wework has triggered a second round of redundancies in the UK as part of its global restructuring efforts, according to reports. The embattled company made over half of its community managers and community leads, around 82 people, redundant earlier this week, according to Wired. There will reportedly be further cuts in the design, IT, sales, [...]
UK coronavirus threat level set for downgrade as cases decline June 19, 2020 The UK’s chief medical officers have agreed to downgrade the coronavirus threat level to level three, as cases start to decline. The Joint Biosecurity Centre (JBC) has recommended the threat level be downgraded from level four – an epidemic is in general circulation and transmission is high or rising exponentially. The chief medical officers for [...]
