Major London law firms still making use of government’s furlough scheme January 27, 2021 Major law firms, some of which are based in the City of London, are still making use of the government’s furlough scheme. City firms Trowers & Hamlins, BLM and and TLT were among those still making use of the coronavirus jobs retention scheme last month, according to HMRC data published by The Lawyer. A spokesperson [...]
AstraZeneca CEO: ‘Britain will hit its vaccine targets’ January 27, 2021 CEO of AstraZeneca Pascal Soriot is confident the UK will hit its vaccine rollout targets, and has confirmed AZ will not reconsider its pre-agreed contract with the UK in the face of supply shortages in the EU. Speaking to Italian news site Repubblica, Soriot said the UK will have succeeded in vaccinating 28 to 30 [...]
Revealed: How have audit industry rankings changed in 15 years? January 27, 2021 From success stories to hours of struggle, the audit market and its key players have changed considerably in the last decade and half. Challenger firm BDO has been the standout success story of the past 15 years, doubling its client count to 314 and snatching first place for number of clients away from Big Four [...]
Covid-19 drives growth at Microsoft as cloud business benefits from home working January 26, 2021 Revenue was up at Microsoft in its second quarter, with the pandemic accelerating the company’s switch to cloud-based computing. Microsoft beat Wall Street estimates for revenue growth from Azure, it’s cloud computing service, as the software giant continued to benefit from a global shift to working and learning from home. The company’s shares, which gained about [...]
Companies raise record $400bn in first weeks of 2021 January 26, 2021 Companies have raised some $400bn in the first three weeks of 2021, marking the biggest haul of the past two decades for the comparable period. The buying frenzy is around $170bn above the average for this time of year, the Financial Times reported, citing Refinitiv data, and is a result of global government and central [...]
Louis Vuitton owner LVMH sees revenue fall after tough year January 26, 2021 Luxury product group LVMH saw revenue decline 17 per cent in 2020, after the coronavirus pandemic caused serious disruption to the business. The business recorded revenues of 44.7bn euros in 2020, down 17 per cent on 2019, and profit from recurring operations at the business, which also owns brands Moet and Hennessy, declined by just [...]
New Skyscraper approved for City of London January 26, 2021 A new 30-storey skyscraper has been approved on 55 Gracechurch Street in the centre of the City of London. The new building, which the City of London Corporation has granted planning permissions for, will be located between Monument station and Leadenhall Market. It will include social and breakout zones, and the building’s floorplan will offer [...]
Government set to announce £1,500 hotel quarantine policy for UK arrivals January 26, 2021 Government set to announce £1,500 hotel quarantine policy for arrivals
Topshop owner Arcadia collapsed with debts of hundreds of millions of pounds January 26, 2021 Troubled retailer Arcadia collapsed with gross liabilities of more than £550m, according to documents prepared by Deloitte, Arcadia’s administrator. Reports prepared at the end of November 2020 revealed Topshop – Arcadia’s flagship brand – and Topman failed with gross liabilities of more than £550m, the Telegraph revealed. Discount brand Outfit owed £80m. The Telegraph [...]
Avo and toast all the way to growth? Don’t ask millennials to bail out the economy January 26, 2021 Millennials finally have some capital – don’t ask them to spend it to ‘save’ the economy Two things are known universally about millennials: they like avocados, and they are the first generation in history that will be financially worse off than their parents. It’s because of that second point that millennials should not be encouraged [...]
