Losses at UK’s top restaurants jump to £151m June 1, 2020 Losses at the UK’s top 100 restaurants increased to £151m last year, a figure that will only worsen as the industry grapples with the impact of the coronavirus. Figures from accountancy group UHY Hacker Young show a 94 per cent increase in losses, from £78m the year before. The government has tentatively set out plans [...]
Exclusive: Financial services firms unlikely to return to the ‘old normal’ June 1, 2020 The coronavirus crisis is likely to accelerate the adoption of technology within financial services, according to accountancy firm EY. In an EY poll of more than 200 financial services firms, almost two thirds of respondents think the workplace will fundamentally change after the pandemic. A further 30 per cent expect moderate change. Simon Turner, a [...]
Ikea introduces social distancing wardens as it prepares for reopening May 31, 2020 Ikea is introducing social distancing wardens as part of a string of safety measures being implemented ahead of reopening on Monday. The retailer will reopen 19 stores across England and Northern Ireland from tomorrow, with click and collect facilities also opening in a phased approach. Ikea stores in Scotland, Wales and the Republic of Ireland [...]
TfL urges Londoners to walk and cycle as schools reopen May 31, 2020 TfL has urged people to consider alternatives to using public transport as schools start to gradually reopen from Monday. TfL has issued advice for headteachers, parents and guardians and called for those who can to walk and cycle to school to make space for those who have no other alternative. TfL is currently operating around [...]
Ex-Sage chief Stephen Kelly appointed chair of Tech Nation May 31, 2020 The former boss of Sage Group Stephen Kelly has been appointed the chair of technology industry body Tech Nation. Kelly succeeds Eileen Burbidge, partner at technology venture capital firm Passion Capital, who stepped down in January after four and a half years at the helm. Kelly led the turnaround of enterprise software company Sage Group [...]
Jeff Bezos takes stake in UK tech startup Beacon May 31, 2020 Amazon founder Jeff Bezos is reportedly investing in UK technology startup Beacon. The world’s richest man has agreed to back the startup, which is a specialist in digital freight forwarding and supply chain finance, according to Sky News. Bezos, who is worth approximately $143bn, is said to be participating in a $15m Series A funding [...]
UK coronavirus death toll rises by 377 to 37,837 May 28, 2020 The UK’s coronavirus death toll has risen by 377 to 37,837, according to figures released today by the Department of Health. As of 9am this morning, 119,587 tests were carried out or dispatched with 1,887 positive results. However, the number of people tested was unavailable again, according to the Department of Health. Overall nearly 4m [...]
Neil Woodford one year on: How the star stock picker fell from grace May 28, 2020 Former star stock picker Woodford suffered a very public fall from grace last year after his flagship Equity Income fund was suspended following a spike in investor redemptions. One year on, we look at what caused Woodford’s demise, where he is now and what it means for the investment industry going forward. Who is Neil [...]
Nissan backs UK plant as it unveils restructuring plan May 28, 2020 Nissan’s Sunderland factory will stay open as the Japanese carmaker unveils its global restructuring plan amid the coronavirus crisis. However, the carmaker will close its plant in Barcelona, resulting in the loss of about 2,800 jobs, according to the Spanish government. The closure could cost Nissan up to €1bn (£898m), the government said. It is [...]
Draper Esprit ‘well positioned’ to benefit from Covid-19 May 28, 2020 Venture capital firm Draper Esprit has said a substantial majority of its portfolio is “well positioned” to benefit from coronavirus, as the adoption of cloud and automation tech is accelerated. Companies in the secure cloud, automation and online financial services are trading well, said Draper Esprit, and evidence from public markets and funding rounds suggests [...]
