DFS navigates lockdowns and supply chain disruption to land profit June 10, 2021 DFS is set to make at least £105m in underlying profit before tax for its 2021 financial year, despite Covid-related disruption and and supply chain issues. In a market update this morning ahead of its full year results, the sofa retailer said total order intake for its fourth quarter was up 92 per cent against [...]
Worsening UK/EU relations over Northern Ireland ‘commanding attention’ of Biden June 10, 2021 America’s most senior diplomat in Britain has given Brexit minister Lord Frost a dressing down for Britain’s role in heightening tensions in Ireland and Europe. Yael Lempert, who was instructed by President Joe Biden, said she had been told to issue London with a demarche, a formal diplomatic reprimand and an uncommon move among [...]
So much for the pandemic exodus: Home sellers’ confidence grows while WFH drives suburb popularity June 9, 2021 London has brushed off fears its population plan to leave en-masse, however home working has influenced where workers would like to live in the capital. Much has been made of the ‘London exodus’; the idea being that professionals who are no longer obligated to sit at a desk for five days per week would rather [...]
Gap to close 19 stores in the UK June 9, 2021 American retailer Gap will close 19 stores in the UK and the Republic of Ireland following a strategic review of the company. The remaining 50 standalone and outlet stores in the UK and Ireland are still under review, fashion news site Drapers first reported, and will continue to operate until a decision has been made. [...]
Online sales at Zara owner Inditex see company profit despite lockdown June 9, 2021 Online sales at Inditex grew 67 per cent in the first quarter of 2021, helping the group swing from a loss in 2020 to an underlying profit. In the three months to 30 April sales stood at €4.9bn, up 56 per cent from last year, excluding the impact of currency changes, but 11.5 per cent [...]
‘Arrest us’: Lloyd-Webber vows to reopen theatres on 21 June regardless of restrictions rules June 9, 2021 Andrew Lloyd-Webber has vowed to reopen his London shows later this month, regardless of whether the government goes ahead with so-called ‘freedom day’. The theatre entrepreneur has had he is willing to be arrested if authorities try to intervene in his plans to re-open. “We are going to open, come hell or high water,” Lloyd-Webber [...]
Haldane: Rishi ‘played a blinder’ but inflation fears are very real June 9, 2021 The threat of inflation is very real for chief economist at the Bank of England Andy Haldane, who this morning said the UK could “overshoot” its inflation target for longer than planned. Speaking on LBC this morning Haldane said there are “punchy pressures on prices” across the UK economy. A combination of high prices on [...]
Michael Gove ‘would bet on’ lockdown restrictions ending on 21 June June 9, 2021 Michael Gove has said he would bet on a relaxation of coronavirus restrictions on 21 June in line with the government’s roadmap out of lockdown. If he were a betting man, he would gamble that restrictions will be eased in just under two weeks’ times, Gove told a meeting of ministers on Monday, the Huffington [...]
UK asks EU for ‘flexibility’ on Irish Sea debacle following trade war threats June 9, 2021 Brexit minister Lord Frost will meet his EU counterpart Marcos Sefcovic later today, in which it is hoped a compromise can be reached over the Irish Sea debacle. Ahead of the today’s meeting in London, Frost reportedly said: “Time is short and practical solutions are needed to make the protocol work. “I look to the [...]
Sunak pushes for City of London exemption from G7 tax plan June 9, 2021 Chancellor Rishi Sunak is pushing for an exemption for the City of London from the G7’s recently agreed global tax plan. Sunak is looking for a deal for financial services, the Financial Times first reported, in wake of fears that global banks with head offices in London could be affected. Major banks are headquartered in [...]
