Elon’s twitter, record borrowing and Zoom stocks: City A.M.’s Business Quiz of the Year (Part 1) December 18, 2020 It’s been a… strange year. But there have been some lighter, albeit somewhat baffling, moments in the business world. See if you can remember the highs and lows of 2020, from Barclays behaving badly to the aftermath of Carlos Ghosn’s daring escape – and look out for part 2 before the end of the year.
Sir Jim Ratcliffe and INEOS take stake in Mercedes F1 team December 18, 2020 INEOS have taken a one-third stake in the Mercedes Formula One team, it was confirmed this morning. Daimler had owned 60 per cent of the outfit, and will reduce down to 33 per cent. Toto Wolff, the team’s CEO and racing impressario, will up his stake from 30 to 33 per cent. Mercedes-AMG Petronas have [...]
Heathrow connectivity collapses by two-thirds due to pandemic December 18, 2020 Some six thousand air routes across Europe are yet to be restored nine months into the Covid-19 crisis, a new report reveals, with Heathrow’s connectivity collapsing by more than two-thirds. The report, from Airports Council International, measures connectivity through a set of direct, indirect and hub indexes. European and UK airports have been the hardest [...]
Franco Manca owner on a bargain hunt despite revenue hit December 18, 2020 Restaurant group Fulham Shore is on a bargain hunt for expansion sites despite a 44 per cent fall in revenues in the six months to September. The group, which operates more than fifty Franco Manca pizza restaurants and 19 The Real Greek outlets, saw revenues fall from £36m in 2019 to £19.9m as lockdowns took [...]
Retail sales dip in November as lockdowns bite December 18, 2020 Retail sales remained above their pre-pandemic levels in November despite a month-on-month fall, new figures reveal. The closely watched retail sales figures from the Office for National Statistics show a 3.8 per cent drop in November compared to October, with many stores particularly in England forced to close for much of the month. Online retailing [...]
Consumer confidence jumps on back of vaccine news December 18, 2020 An influential survey into consumer confidence saw a significant spike on the back of positive Covid-19 vaccine news, but there remains some way to go before confidence returns to the wider economy. The Gfk Consumer Confidence tracker saw a 7-point jump in its overall index, to -26 in December from -33 the month previously, still [...]