FTSE opens up higher again in February rebound February 2, 2021 London’s main market opened up some 0.40 per cent higher this morning, continuing a positive start to the month after a volatile January. The FTSE 250, the second larger UK index, was up a similar 0.40 per cent, at 20,479. The rebound follows turbulence last week surrounding Gamestop and other companies targeted by both short-sellers [...]
Virgin Money adds £18m fresh provisions for troubled loans February 2, 2021 Lender Virgin Money has set aside a further £18m this quarter to protect its balance sheet from potential loan losses, as it reported a “modest” increase in the number of customers needing additional support after exiting pandemic payment holidays. The new £18m this quarter is in addition to £726m the company is holding on its balance sheet [...]
PwC’s new leader of FS: ‘The outcome of Brexit on financial services is still unknown’ February 1, 2021 Last month Isabelle Jenkins was named the new leader of financial services at PwC UK, after spending 17 years as a partner at the firm. Jenkins replaced Andrew Kail, who held the role over the last four and a half years. In her first interview as leader of financial services at the Big Four firm, [...]
Wall St follows FTSE higher as Reddit attention turns from Gamestop to silver February 1, 2021 Wall St follows FTSE higher as Reddit attention turns from Gamestop to silver
Covid testing push in Surrey after South African variant found with no travel links February 1, 2021 Residents in Woking, Surrey will be offered coronavirus tests after two people in the community tested positive for the South African variant, with no travel links to South Africa. Households in the Goldsworth Park and St Johns areas of Woking will be visited and requested to carry out a Covid-19 test – regardless of whether [...]
High and dry: London medical cannabis company enters administration February 1, 2021 London-based pharmaceutical company Senzer has entered administration, after failing to get enough backing to float on the Alternative Investment Market. Professional services firm Begbies Traynor has been appointed administrator of Senzer, which entered administration in early January. Senzer developed and manufactured respiratory devices for medical cannabis use. Its core product was a breath-activated inhaler that [...]
Hedge fund Melvin Capital bags billions from investors following GameStop debacle February 1, 2021 After losing more than 53 per cent in January, Melvin Capital, the hedge fund at the centre of the GameStop drama, enjoyed a cash injection from investors in the last days of the month. The firm started the year with roughly $12.5bn, according to reports, but that dramatically dipped after it was at the centre [...]
Asos buys Arcadia’s Topshop and Miss Selfridge in £330m deal, leaving thousands jobless February 1, 2021 Arcadia’s Topshop, Topman, Miss Selfridge and HIIT brands have been sold to online retailer Asos in a £330m deal. Arcadia’s administrator Deloitte this morning confirmed Asos would buy the brands for £295m, and would also take on certain liabilities for forward committed stock orders. Asos paid around £265m for the brands, some £30m for the [...]
JD Sports buys American sportswear brand DTLR Villa February 1, 2021 JD Sports will buy American sportswear brand DTLR Villa, in a deal worth $495m. Based in Baltimore, Maryland, and currently majority owned by BRS & Co. and Goode Capital, DTLR was established in 1982 and is an athletic footwear and apparel streetwear retailer. Originally named Downtown Locker Room, the company later re-branded as DTLR and, [...]
United Airlines warns 14,000 staff could be stood down without pay January 29, 2021 United Airlines has warned some 14,000 employees could be stood down without pay when a second round of payroll support for airlines in the US expires on 1 April. The Chicago-based airline recalled 13,000 employees from furlough – a term in the US that means a mandatory suspension without pay – when the fresh payroll [...]
