Chinese stocks climb on prospect of fiscal stimulus November 18, 2020 Chinese stocks edged higher on Wednesday after the Chinese government hinted at additional stimulus to aid the economic recovery. Premier Li Keqiang helped to ease investor nerves that authorities might abandon policies to prop up the economy, which has been devastated by the pandemic. On Tuesday night he told state radio that China will promote [...]
Vaccine could accelerate the return to the office, survey finds November 17, 2020 News that a vaccine could be rolled out as early as next month has been hailed as transformative and could see a return to the offices sooner than most think. A survey of 700 UK employees by Publicis Sapient show 47 per cent of employees would feel more comfortable to get back to the office [...]
Intermediate Capital Group accelerates fundraising after ‘exceptional’ period November 17, 2020 Alternative fund manager Intermediate Capital Group has accelerated its fundraising timetable after an “exceptional” first half. ICG raised €2.6bn in the six months ended 30 September, resulting in assets under management (AUM) of €46.1bn and said it expects fundraising of €6bn for the full year. The firm, which invests in private debt, equity and infrastructure, [...]
Swissport axes 3,000 jobs after ‘refusing’ to access furlough scheme November 17, 2020 Baggage handler Swissport is making 3,000 employees redundant after refusing to put them on furlough, according to a leading union. There was a wave of redundancies ahead of the 31 December deadline for the furlough scheme, which sees the government pay 80 per cent of employees’ wages. The Chancellor Rishi Sunak belatedly extended the scheme [...]
Exclusive: UK investors turn to property as they brace for a recession November 17, 2020 UK investors worried about the government’s handling of the pandemic and Brexit are turning to property as they brace for a recession. A survey of over 1,000 investors by FJP Investment reveals nearly two thirds – 62 per cent – are concerned that the government’s mishandling of the pandemic will result in a long-term recession. [...]
Imperial Brands revenue rises as demand for tobacco picks up November 17, 2020 Imperial Brands reported a rise in annual sales after demand for tobacco picked back up amid the pandemic. The maker of Gauloises and JPS reported revenue for the year to 30 September rose from £31.59bn to £32.56bn. Imperial Brands made a pretax profit of £2.17bn, up from £1.69bn in the previous year, which included £90m [...]
Experian reports rise in revenue after ‘resilient’ performance November 17, 2020 Data credit company Experian (EXPN) is bullish on revenue growth in the third quarter after a ‘resilient’ performance in the first half of the year, despite the backdrop of the pandemic. Revenue for the first half of the year at constant currency grew three per cent after a strong performance in the second quarter. Experian [...]
Investors clamp down on executives’ pension pay packets November 16, 2020 Investors are piling further pressure on companies to scale back executive pension packets to align with the rest of their workforce. In the past it has been common for executives’ pension contributions to be considerably higher than the rest of the workforce. Some progress has been made in bridging the gap but now investors want [...]
Business interruption case heads to the Supreme Court November 16, 2020 A landmark legal battle between the City regulator and leading insurers over business interruption payouts heads to the Supreme Court today. Hundreds of thousands businesses that were forced to close or faced significant losses amid the pandemic made claims on their business interruption insurance. But leading insurers disputed the claims arguing their policies did not [...]
Brexit talks ‘in real trouble’ if decisive week does not produce breakthrough November 16, 2020 Trade talks between Britain and the EU will be in “real trouble” if there is not a breakthrough in the next week, the Irish foreign minister has said. Speaking to Ireland’s Newstalk radio station Simon Coveney said: “If there is not a major breakthrough over th next week to 10 days then I think we [...]
