UK inflation climbs to 0.5 per cent after Eat Out to Help Out scheme ends October 21, 2020 UK inflation climbed to 0.5 per cent last month as restaurants and cafes hiked their prices following the end of the Eat Out to Help Out scheme. The headline rate of inflation on the ONS consumer price index (CPI), which tracks the prices of goods and services, came in at 0.5 per cent in September, [...]
Segro buys Canning Town warehouse in £133m deal October 21, 2020 Property development firm Segro is adding a Canning Town warehouse estate to its London portfolio as it increases its presence in the capital. The landlord, which counts Amazon and Ocado as some of its clients, today announced it had acquired Electra Park, a 13 acre urban warehouse, from global investment manager Schroders for £133m. The [...]
London is the toughest place to be an entrepreneur, report finds October 21, 2020 London is the toughest place in the UK to be an entrepreneur due to a huge wealth disparity and a higher cost of living, according to a new report. The government-funded British Business Bank (BBB) and management consulting firm Oliver Wyman have today published a report into the huge impact ethnic and economic background as [...]
UK dividend drought continues into third quarter October 21, 2020 The collapse of corporate dividends this year continued into the third quarter, as payouts slumped by nearly half to £18bn. Companies have scrambled to conserve cash amid the crisis, and the 49 per cent drop last quarter represents the lowest third quarter total in a decade since the aftermath of the global financial crisis. Although [...]
Peter Hargreaves strikes deal with Hargreaves Lansdown on board representation October 20, 2020 Peter Hargreaves has nominated a City veteran to join the Hargreaves Lansdown (HL) board as part of a new agreement between the co-founder and the fund manager. In a stock exchange announcement today, Hargreaves Lansdown announced it had come to an agreement with Hargreaves to enter into a new shareholder agreement, which will allow Hargreaves [...]
Monzo launches Premium account as it expands fee-paying services October 20, 2020 Monzo has today launched its premium service which comes with phone and travel insurance as it works to convince more customers to pay for its services. The premium card builds on Monzo Plus, the fintech’s £5 per month product it launched in July. Chief product officer Mike Hudack told City A.M.: “Monzo Plus gives us [...]
Co-op Bank appoints finance boss as sixth chief executive in a decade October 20, 2020 The Co-op bank has named finance boss Nick Slape as its new chief after Andrew Bester announced his departure just two years into the role. Slape, who will step up as chief executive on 31 October, will be the bank’s sixth boss in a decade after years of controversy. His appointment comes after the shock [...]
Trainline chief executive Clare Gilmartin steps down October 20, 2020 Rail ticketing firm Trainline (TRN) has today announced its chief executive Clare Gilmartin will stand down at the end of February. She will be replaced by current chief operating officer Jody Ford, who was previously chief executive of Photobox. “The decision to step down next year is a personal one; after seven years at the [...]
Exclusive: Covid support almost equal to all bank lending last year October 19, 2020 The amount of money UK businesses borrowed through the government’s coronavirus support schemes is almost equal to all bank lending for the same period last year, new figures show. Covid-related lending schemes have provided £98.2bn in credit to businesses compared to the £100.5bn that was lent during the same five-month period last year, according to [...]
British Airways boss piles pressure on the government to scrap quarantine October 19, 2020 The new British Airways boss has called on the government to introduce pre-departure testing warning the UK risks being left behind in the economic recovery. Sean Doyle, who became chief executive of the airline last week, said the UK needed to get the economy going again but “this just isn’t possible when you’re asking people [...]
