UK banks urged to scrap branch closures during lockdown January 28, 2021 Britain’s Financial Conduct Authority has today told banks to rethink moves to close branches during lockdown. The FCA said banks should consider the impact of national restrictions on their ability to comply with regulatory guidance on closing branches. The authority released a statement today urging banks to consult any customers that are affected directly. The [...]
Euromoney revenues drop as pandemic damages events unit January 28, 2021 Financial information company Euromoney has suffered lower first quarter revenues as its events business was hit by lockdowns, the company revealed today. Euromoney’s quarterly revenue fell to £78.7m, a 20 per cent drop from the £99.2m reported a year earlier. Group events revenue of £8.6m was just 30 per cent of the same period last [...]
EU and AstraZeneca hold crisis talks to resolve Covid vaccines row January 28, 2021 The EU and UK-based Covid vaccine maker AstraZeneca have vowed to resolve clashes over supply shortages after “constructive” crisis talks. Production issues means that AstraZeneca can deliver only a fraction of the doses promised to the EU in the first quarter of the year, leading to shortages across the 27-member bloc. The EU has remained [...]
Office demand drops as Workspace reports 33 per cent fall in enquiries January 28, 2021 Workspace remains optimistic about the future of London’s office work despite a sharp drop in enquiries throughout the pandemic. This morning’s results show the group averaged 672 enquiries per month in the third quarter, a 33 per cent drop from the previous year. Lettings per month also fell by 3.4 per cent to 109, driven [...]
Sadiq Khan accuses government of imposing ‘new era of austerity at worst possible time’ January 27, 2021 The Mayor of London has today warned that major cuts are inevitable unless the government adequately funds the capital. Khan has vowed to build a better city in the aftermath of the pandemic but argues that he is being forced to do so “with one arm tied behind my back”. Speaking at a Budget Plenary [...]
Amazon halts alcohol sales in Northern Ireland following new Brexit customs rules January 27, 2021 Online retail giant Amazon has halted sales of wines, beers and spirits in Northern Ireland as it prepares to de-list more products under new Brexit customs rules. The company is concerned that excise duty will now have to be paid twice on alcohol shipments sent from British mainland across the Irish Sea. Amazon suspended orders [...]
City of London chief: Brexit impact ‘not at all catastrophic’ as Square Mile will thrive without EU access January 27, 2021 Brexit’s impact on London’s loss of financial business has not been catastrophic, the chief of the City of London Corporation said this morning. Catherine McGuinness, political leader of the Square Mile’s ruling body, insisted the City will thrive even if the European Union “irrationally” blocks access. London has endured business and job losses since the [...]
3i Infrastructure holds dividend despite yearly income slump January 27, 2021 Investment firm 3i Infrastructure remains on track to meet its dividend target after it reported a resilient third quarter on Wednesday. The company secured a total income of £24m between 1 October and 31 December, a 45 per cent drop from the £44m it took home during the same period last year. It is on [...]
Riots erupt in Netherlands as lockdown protesters rage for third night January 26, 2021 Dutch police arrested hundreds of people across the country last night in a third evening of unrest triggered by a new night-time curfew. Groups of rioters set fires, threw rocks, and looted stores in violence generated by government-imposed restrictions aimed at curbing the spread of coronavirus. Prime Minister Mark Rutte has condemned demonstrators, who burned [...]
PZ Cussons washes pre-pandemic struggles away as soap sales boost profits January 26, 2021 A surge in hand washing products helped PZ Cussons shine as pandemic-led demands boosted its first-half profits. The consumer group’s focus brands grew revenue by 21.9 per cent as overall growth reached 14.6 per cent across the world. Carex led the way with £313m of sales, a 10 per cent increase on the previous year, [...]