Coronavirus will make it harder to raise finance in the next year, say fintech founders August 18, 2020 The majority of fintech founders in the UK believe the pandemic will make it harder to raise finance in the next year. A survey by the Digital Finance Forum (DFF) found that just under half of respondents cited limited access to capital as the most pressing challenge during the pandemic. It comes as the government [...]
BHP profits dip as it warns of contraction outside of China August 18, 2020 The world’s biggest mining group BHP has reported a dip in profits as it warns that major world economies outside of China will bear the brunt of the downturn. The figures BHP reported attributable profit of $8bn for the year ended 30 June, down four per cent on the previous year. Profit from operations dipped [...]
UK savings rates halve since coronavirus lockdown August 17, 2020 Average savings rates in the UK have fallen for the fifth consecutive month, as the impact of coronavirus and subsequent base rate cuts hit returns. Since lockdown restrictions were imposed in March, average savings rates for easy access, notice accounts and their ISA equivalents have halved. Moneyfacts’ savings report shows all average saving rates are [...]
Diageo to acquire Ryan Reynolds’ gin brand through Davos Brands deal August 17, 2020 The world’s largest spirits maker Diageo has announced it will buy Ryan Reynolds’ gin brand Aviation American Gin. The company will buy Aviation American Gin, which is co-owned by the Hollywood star, through the acquisition of Aviation Gin and Davos Brands for up to $610m. It will be funded through existing cash and is expected [...]
Easyjet confirms closure of Stansted, Southend and Newcastle bases August 17, 2020 Easyjet has confirmed it will close its airport base at Stansted from 1 September, as the coronavirus pandemic severely dents demand. The budget airline is also shutting its bases in Southend and Newcastle, putting hundreds of jobs at risk. Stansted and Newcastle will remain part of Easyet’s route network, and some in-bound flights will continue. [...]
Ranked: Monzo and Starling top list of best UK banks August 17, 2020 Digital fintechs Monzo and Starling are better than traditional banks at providing the best service to personal banking customers, according to a recent survey. The Competition and Markets Authority (CMA) conducted a survey of around 1,000 customers of each of the 19 largest personal current account providers in Britain to rank the best and worst [...]
Chris Smalling invests in UK plant-based meat business August 17, 2020 A startup that specialises in “hyper-realistic” plant-based food has secured investment from international footballer Chris Smalling in its latest funding round. THIS closed its £4m Seedrs crowdfunding campaign on Friday, which was live for 2 and a half days before hitting its £4m target. THIS aims to mimic meat in taste, texture, appearance and smell [...]
Tata Motors denies it plans to sell its stake in Jaguar Land Rover August 17, 2020 Tata Motors has denied reports it plans to sell its stake in Jaguar Land Rover after talks with the government to secure a rescue package broke down. Talks with the carmaker and Tata Steel, which are both owned by the Indian conglomerate Tata Group, broke down after the Treasury concluded the group did not qualify [...]
UK housing market surges in busiest month in 10 years August 17, 2020 Brits have turned to home-buying to fill the summer holiday void post-lockdown as the UK housing market’s “mini-boom” accelerated in August. Rightmove’s latest house price index released today reveals the highest number of monthly sales in more than 10 years in August. It is up by 20 per cent on the previous high, and with [...]
UK tradespeople remain optimistic despite pandemic uncertainty August 17, 2020 Tradespeople in the UK continue to remain optimistic for near-term workloads despite the economic havoc triggered by the pandemic. A survey of over 1,300 tradespeople conducted by builders’ merchant Travis Perkins, found half of the respondents believe their workloads will increase and will have to buy new materials over the next two months. The first [...]
