UK financial sector calls for caution over any work from home law June 21, 2021 How people divide their working hours between home and office should not be forced into law, senior financial services industry officials said today. Britain has hinted that it may legislate to allow employees to work flexibly by dividing their time between the office and home, despite the government previously pushing back against suggestions that it [...]
1 in 5 London office firms expect staff to work from home five days a week after pandemic June 21, 2021 One in five businesses which were office-based before the pandemic expect staff to work from home for five days a week after the Covid crisis finishes. That’s according to a poll of 520 business leaders by the London Chamber of Commerce and Industry (LCCI), which also found that nearly half of firms that are able [...]
Anthony Joshua becomes shareholder in CBD firm Love Hemp June 21, 2021 British boxer Anthony Joshua has become a shareholder in Love Hemp, the UK’s leading CBD and hemp products supplier. Joshua has signed a three-year endorsement deal from next month when he will take up the role of international ambassador for the brand. Love Hemp will also collaborate with the two-time heavyweight champion on a licenced [...]
Prosus and Naspers post record revenues as internet investments pay off June 21, 2021 Technology investor Prosus today posted its strongest annual performance to date, with revenues soaring by a third to $28.8bn. Prosus, which is controlled by South African company Naspers, said the record revenues were driven by strong returns at its stake in Chinese internet giant Tencent. The group also doubled its e-commerce portfolio value to $39bn [...]
FTSE 100 drops while industrial stocks boost mid-caps June 18, 2021 London’s FTSE 100 dipped this morning after a fall in heavyweight oil majors BP and Royal Dutch Shell dragged down the index. The blue-chips fell by 0.5 per cent at the open, with oil dips offsetting gains in large dollar-earning consumer staples firms including Unilever and Diageo. These companies benefitted from a weaker pound, as [...]
UEFA could move Euros final from Wembley after backlash to quarantine-free VIPs June 18, 2021 UEFA today said it has a contingency plan to replace Wembley as the host for the Euro 2020 final unless the government agrees to exempt travelling foreign fans from a 10-day quarantine. Tournament organisers have been in negotiations with the British government since it scrapped plans to end lockdown restrictions on 21 June. Wembley is [...]
UK retail sales fall in May as Brits swapped supermarkets for restaurants June 18, 2021 UK retail sales fell by 1.4 per cent in May following a sharp increase in April when lockdown restrictions were eased, according to new Office for National Statistics (ONS) data. The monthly drop was unexpected, with economists predicting a 1.6 per cent increase. The largest contribution to the decline came from food stores, where sales [...]
US stocks fall as Fed’s taper talk drags down tech shares June 17, 2021 Tech stocks dragged Wall Street lower today after the Fed hinted at tapering its stimulus sooner than expected, piling pressure on a sector that is vulnerable to higher interest rates. The tech-heavy Nasdaq fell by 0.25 per cent at the open, while the Dow Jones Industrial Average was down 0.1 per cent. Meanwhile, the S&P [...]
Investors are balancing crypto volatility with lower-risk bets, study shows June 17, 2021 Investors are offsetting crypto risk by diversifying their portfolios with lower-risk bets, according to new research. The digital currency has seen a period of intense popularity recently due to increased savings during the pandemic, as well as through endorsements from big corporations and influential public figures. Money management fintech Plum today published new data on [...]
Lloyd’s of London takes out £650m cover to protect emergency fund June 17, 2021 Insurance market Lloyd’s of London has taken out £650m in cover to protect its backup central fund against possible high-risk events that could cause losses. The five-year cover is financed by JP Morgan as well as other reinsurers including Berkshire Hathaway and Swiss Re, according to a Financial Times report. The central fund at Lloyd’s [...]