Retail investors boost August flows as market recovery continues October 1, 2020 UK savers ploughed £1.8bn into retail funds last month as the fund market started to show signs of a post-Covid recovery. Volatility within bond markets has calmed somewhat as a result of central bank stimulus, which is in turn attracting investors. Read more: Investors turn their back on UK equity funds due to Brexit jitters [...]
Cazoo doubles valuation in latest funding round October 1, 2020 Used car sales platform Cazoo has doubled its valuation after raising a further £240m in its latest funding round. The fresh fund raise more than doubles the startup’s previous valuation to over $2bn, and brings its total funding to a record £450m. Cazoo buys and reconditions cars before selling them through its website. The new [...]
Lockdown restrictions tightened in Liverpool as coronavirus cases rise October 1, 2020 The government has extended lockdown restrictions in Liverpool, just days after sweeping new rules were imposed in the North East. In a statement to the House of Commons, health secretary Matt Hancock announced restrictions would be extended to the Liverpool city region, Warrington, Hartlepool and Middlesborough. Hancock said people could no longer mix with other [...]
London businesses show signs of recovery post-lockdown September 30, 2020 There are encouraging signs that businesses in the capital are on the road to recovery after emerging from lockdown. Despite a bleak year for firms across a broad range of sectors, a new poll of London businesses show a slight improvement in business conditions in the third quarter. The majority of the firms surveyed by [...]
David Beckham’s e-sports team Guild raises £20m ahead of market debut September 29, 2020 David Beckham’s e-sports company has raised £20m ahead of its plans to list on the London Stock Exchange this week. The company, which announced plans to float earlier this month, will be the first e-sports enterprise to go public in Britain. On Tuesday Guild said its oversubscribed offering of 250m shares was priced at 8 [...]
FTSE 100 dividend payouts fall to lowest level in nearly a decade September 29, 2020 Dividend payouts by FTSE 100 firms have dropped to their lowest point in nearly a decade as the pandemic forces companies to slash payments. Dividend payments for FTSE 100 firms are forecast to plunge 24 per cent this year, according to AJ Bell. It follows an 11 per cent drop in 2019, leaving the total [...]
UK investments remain resilient in the face of pandemic September 24, 2020 Total investments in the UK are set to near pre-pandemic levels this summer despite a torrid year for global markets amid the coronavirus crisis. Total assets under management (AUM) by members of the Investment Association (IA) reached a record high of £8.5 trillion at the end of 2019, a 10 per cent increase on the [...]
Luke Johnson: 1m employees on furlough face redundancy September 23, 2020 Former Pizza Express boss Luke Johnson has warned that at least a million jobs could be lost in the hospitality industry as the government tightens restrictions. Speaking to BBC Newsnight, the restaurant mogul predicted that if the government cut all subsidies, “of the 3m [on furlough] at least a million, maybe more, will be made [...]
Business groups call for further support as UK tightens restrictions September 22, 2020 The government must set out a new support package as new restrictions threaten to derail the economic recovery, business groups have warned. Addressing the House of Commons today, Boris Johnson dealt a devastating blow to the hospitality sector as he unveiled plans for a 10pm curfew. And as he warned of a second wave of [...]
Blackrock votes against over 5,000 directors as investors step up demands September 17, 2020 Asset manager Blackrock opposed the re-election of more than 5,000 directors this year as it said investors are starting to expect more on corporate governance. The Blackrock Investment Stewardship report for the 12 months to June 2020 found it had voted against 5,100 directors compared to nearly 4,800 the prior year. Over 1,700 of these [...]
