M&S sinks to a loss as store closures hammer clothing business May 26, 2021 M&S has reported an annual loss as sales in its clothing division collapsed during the pandemic. The high street stalwart reported a £201.2m pre-tax loss in the 52 weeks to 27 March 2021, down from a pre-tax profit of £67.2m in the previous year. M&S Food sales dipped 0.6 per cent across the year with [...]
St James’s Place enjoys strong inflows as client confidence improves May 26, 2021 Money manager St James’s Place said inflows this year had surged as government spending and the vaccine rollout drove positive investor sentiment. The FTSE firm said gross inflows for the five months to the end of May 2021 are likely to be around 23 per cent higher than the same period last year. It comes [...]
Vaccines opened up for all over-30s as Government eyes end of social distancing May 26, 2021 Britain is on track for a “big” fortnight of vaccinations as the Government opens up appointments to 30 and 31 year olds today, raising hopes social distancing restrictions are on track to end next month. Nearly three-quarters of adults in the UK have already had one dose and more than two-fifths have had two. The [...]
Dividend payouts forecast for revival this year after pandemic cliff edge May 26, 2021 Dividend payouts are expected to return to near pre-pandemic levels after miners and banks led a revival in the first quarter of 2021. Asset manager Janus Henderson has upgraded this year’s forecast from $1.32 trillion to $1.36 trillion in its latest dividend index published today. It comes after a strong first quarter for payouts which [...]
Vaccines minister confirms self-isolation won’t end on 21 June for fully vaccinated May 25, 2021 Vaccines minister Nadhim Zahawi has confirmed that fully vaccinated people will likely still need to self-isolate if they come into contact with someone with Covid once all restrictions are removed on 21 June. Zahawi told MPs today that “even if you have had two doses of either vaccine – and I have had this in my own [...]
Wave of dealmaking sees 123 UK firms taken over by private equity during pandemic May 25, 2021 The pandemic has acted as a catalyst for a wave of private equity takeovers of UK firms, with their value reaching their highest level since the financial crisis. While coronavirus initially triggered a slowdown in dealmaking, private equity houses gained momentum by the autumn with a string of high-profile and high-value deals. Some 123 UK [...]
Kwasi Kwarteng: Nationalisation is least likely route for Liberty Steel May 25, 2021 The UK is considering all options for Liberty Steel but nationalisation is the least likely route, the business secretary has told MPs. In March Sanjev Gupta’s company GFG Alliance, which owns Liberty Steel, asked the government for a bailout of as much as £170m to avert collapse. The insolvency of Greensill Capital, which was among [...]
Listed law firm DWF announces two acquisitions as trading beats expectations May 25, 2021 City law firm DWF has resumed M&A activity, acquiring two businesses after a strong year of trading amid the pandemic. The listed firm this morning announced it had acquired compliance training business Zing 365 Holdings for £1.8m, as well as reaching an agreement to acquire BCA Claims & Consulting. DWF said completion of the £2.2m [...]
Hurricane Energy posts $625m loss as it seeks financial restructuring May 25, 2021 Hurricane Energy has sunk to losses of $625.3m as it undergoes a financial restructuring following a challenging year for the West Shetland operator. The company said the events of the last 12 months, including a writedown in reserves, had caused “upheaval and frustration” and had been “profoundly challenging”. The losses for the year ended 31 [...]
Soggy sandwich: Food firm Greencore sinks to first-half loss May 25, 2021 Convenience food producer Greencore has sunk to a loss in the first half, but there is “cause for optimism” as people head back to the office. The FTSE 250 firm reported a group loss before tax of £1.8m in the first half of the year down from a group profit of £27.3m a year earlier. [...]
