Provident Financial to shut doorstep lending arm after 141 years as it crashes to loss May 10, 2021 Troubled sub-prime lender Provident Financial today confirmed plans to shutter its doorstep lending arm as it reported a hefty loss for the full year. The Bradford-based company said it was withdrawing from the home credit market after 141 years, adding that it has begun a consultation process for 2,100 employees. “In light of the changing [...]
Oil prices rise after critical US pipeline hit by cyber attack May 10, 2021 Oil prices climbed higher this morning after a major cyber attack forced the shutdown of a critical US pipeline, sparking fears of shortages. Brent crude was up 0.6 per cent, at $68.66 a barrel this morning, having risen 1.5 per cent last week. US West Texas Intermediate futures rose 0.5 per cent at $65.24 a [...]
Sadiq Khan unveils huge London tourism campaign after reelection May 10, 2021 Sadiq Khan has today pledged to launch the “biggest domestic tourism campaign the capital has ever seen” following his reelection as London mayor. In a speech at Shakespeare’s Globe this morning Khan will unveil the new Let’s Do London campaign in bid to kickstart the city’s economy as Covid-19 restrictions are eased. The domestic tourism [...]
Service sector confidence surges as vaccine rollout continues May 10, 2021 Service sector confidence soared to its highest level in more than a year last month as the UK’s continued vaccine rollout and the easing of lockdown restrictions boosted optimism. Confidence among businesses in the service sector hit a 14-month high in April after rising 1.36 points to 99.86, according to BDO’s latest services optimism index. [...]
UK business borrowing forecasts fall by £7bn on recovery hopes May 10, 2021 Forecasts for UK business borrowing have been slashed as the economy rebounds from the Covid-19 pandemic more quickly than anticipated. Banks are set to lend £19bn to British companies this year, up four per cent year on year but down from the £26bn forecast in February. Growth is set to slow further in 2022 to [...]
Rail disruption set to continue next week after cracks found in trains May 9, 2021 Travel chaos caused by safety checks after cracks were discovered in some high-speed trains is set to continue into next week, Brits have been warned. Robert Nisbet of the Rail Delivery Group said initial inspections of 183 trains taken out of service yesterday should be completed by the end of the day. But he warned [...]
Elon Musk reveals he has Asperger’s in Saturday Night Live appearance May 9, 2021 Eccentric billionaire Elon Musk has revealed he has Asperger’s syndrome during an appearance on US sketch show series Saturday Night Live. The Tesla founder told viewers he was the “first person with Asperger’s” to host the show, “or at least the first person to admit it”. It is thought to be the first time the [...]
Hugging to be allowed soon as UK on track for lockdown easing May 9, 2021 Brits will be allowed to hug once again soon as Boris Johnson is set to confirm the next stage of the UK’s easing of lockdown restrictions. Cabinet Office minister Michael Gove said the prime minister will give the green light tomorrow for the next stage of the roadmap on 17 May. This will mean people [...]
Lloyds in talks over £400m deal for retirement group Embark May 9, 2021 Lloyds Bank is in talks over a £400m deal to acquire retirement products provider Embark in what would be its biggest acquisition since it returned to private ownership four years ago. The lender is close to finalising a deal and an announcement could come as early as this month, Sky News reported. Embark, which was [...]
Taxman owed millions following Greensill collapse May 9, 2021 The taxman is owed millions of pounds following the collapse of scandal-hit finance firm Greensill Capital. Documents from administrator Grant Thornton show that HM Revenue & Customs is among more than 200 creditors out of pocket since the company’s collapse in March. It is owed $8m (£5.7m), the Sunday Times reported. In total Greensill owes [...]
