Authentic Brands in talks over double swoop for Arcadia and Debenhams – report December 13, 2020 US retail giant Authentic Brands is planning an audacious double swoop for collapsed Arcadia and Debenhams in a deal that would transform the high street. The firm, which recently took over historic New York department store Barneys, is in talks with the administrators of the two companies this weekend. The Sunday Telegraph reported that the [...]
Britishvolt to build £2.6bn battery ‘gigaplant’ in Blyth December 11, 2020 Start-up Britishvolt has chosen Blyth in the north-east of England to be the site of the UK’s first ever battery “gigaplant”. The project, which will cost £2.6bn in total, is one of the largest ever investments into the region. Around 3000 people will be employed at the plant, which will produce lithium ion batteries for [...]
E-scooter firm Pure Electric to open stores in Paris and Madrid in European expansion December 10, 2020 E-scooter firm Pure Electric is set to open new stores in Paris and Madrid as part of a 20-store expansion into Europe next year. Despite Brexit uncertainty, the Glastonbury-based business will embark on a rapid scaling up in 2021 which will see it more than double its current number of stores. The first of these [...]
Canary Islands removed from travel corridors list after surge in cases December 10, 2020 Travellers returning from the Canary Islands from Saturday will now have to quarantine after a surge in cases on the archipelago meant its travel corridor has been taken away. Passengers will have to isolate for 14 days if they arrive before Tuesday, but if they arrive after they can opt to buy a private test [...]
Oil prices top $50 for the first time since pandemic declared December 10, 2020 Global oil prices today rose above $50 for the first time since the world went into lockdown back in March as traders welcomed the start of coronavirus vaccination programmes. Worldwide standard Brent Crude rose 3.5 per cent today to trade at $50.60, its highest levels since the first week of March. US benchmark West Texas [...]
Tube usage bounces back to October levels as Londoners dash for shops December 10, 2020 Tube and bus usage jumped back to pre-second lockdown levels last week as Londoners rushed back to shops, pubs, and restaurants after a month of restrictions. On 4 December, there were 1.56m journeys made on the London Underground, and 3.6m trips made by bus, data from TfL shows. That’s roughly a third higher than the [...]
AIM-listed Reabold finds largest onshore oil field in UK in 50 years December 10, 2020 A London-listed oil firm has today said it believes it has found the largest onshore oil field discovered in the UK since 1973, sending its shares soaring. Reabold Resources said that drillers at the West Newton site in east Yorkshire had found a new 62 metre oil reservoir, taking the total hydrocarbon column to 118 [...]
Honda looks to restart production at Swindon plant on Monday December 10, 2020 Japanese carmaker Honda said that it would try to restart production at its Swindon plant on Monday after a shortage of parts forced it suspend activities. In a statement, the auto giant said: “Production is not running today or Friday with a view to restarting on Monday.” Output was halted yesterday after transport delays at [...]
McLaren considering listing in bid to raise £500m – report December 10, 2020 British supercar firm McLaren is mulling a public listing in a bid to raise cash in order to shore up its finances after taking a battering from the coronavirus pandemic. The carmaker is looking to raise up to £500m over the next 12 months, and is considering going public via a deal with a special [...]
Manufacturers set for £24bn boost from surge in direct-to-consumer sales December 10, 2020 Manufacturers could see a £24bn boost in direct-to-consumer sales over the next three years as shoppers increasingly look to bypass traditional sales channels. According to new data from Barclays Corporate Banking, the direct-to-consumer segment could grow in value to £120bn, up from £96bn this year. The growth is down to more and more customers opting [...]
