Hospitality firms urge Boris Johnson to stick to reopening roadmap April 18, 2021 Some of the UK’s biggest hospitality companies have urged Prime Minister Boris Johnson to “stick” to the current plan for easing lockdown restrictions. In an open letter the pub and restaurant bosses said two-thirds of venues were unable to open outdoors from 12 April and “none is breaking even”. They called on the prime minister [...]
Steel tycoon Gupta raised cash through circular selling April 18, 2021 Embattled tycoon Sanjeev Gupta is facing fresh questions over his Liberty Steel empire following reports the company raised cash from Greensill Capital by selling steel that it then planned to buy back itself. Liberty Steel Newport in south Wales used a circular trading scheme where it sold steel to a company with close links to [...]
Eurostar secures lender support as it eyes government bailout April 18, 2021 Eurostar is said to have signed a deal with its lenders to refinance hundreds of millions of pounds of debt as it looks to secure financial support from the UK government. A group of banks, including Natwest, have agreed to refinance £400m of loans that were due to be repaid this summer, the Daily Telegraph [...]
Calls for new hospitality tipping policy amid fears of ‘massive’ financial hit April 15, 2021 Campaigners are calling for a new fair tipping policy in British pubs and restaurants amid fears the industry could take a “massive” financial hit as restrictions are lifted. Concerns have been raised that a forecasted decline in gratuities after Covid could have a severe impact on workers, many of whom are already on the minimum [...]
Decline in UK marketing budgets slows amid rebound hopes April 15, 2021 Cuts to UK marketing budgets eased in the first quarter, sparking hopes that the easing of Covid-19 restrictions could pave the way for a sector rebound. Total marketing budgets declined again in the first three months of the year, with a net balance of -11.5 per cent of companies surveyed reporting lower ad spend. But [...]
Live events: UK to launch pilot insurance scheme as part of sport and culture reopening April 14, 2021 Live events: UK to launch pilot insurance scheme as part of sport and culture reopening
Competition watchdog clears £31bn O2-Virgin Media merger April 14, 2021 The competition watchdog has provisionally cleared the £31bn merger between O2 and Virgin Media following an in-depth investigation. The Competition and Markets Authority (CMA) launched a probe into the tie-up amid concerns it would harm competition in the wholesale market. Virgin Media provides leased lines to mobile operators such as Vodafone and Three, while O2’s [...]
Facebook splashes out $23m on Mark Zuckerberg’s security April 14, 2021 Facebook forked out more than $23m (£16.6m) on security for its chief executive Mark Zuckerberg last year. In a filing published this week the tech giant said it handed the boss $23.4m in compensation in 2020 to cover personal security at his homes and during personal travel. Of this, $13.4m represented a security allowance while [...]
Audioboom books first profit as podcast downloads grow April 14, 2021 Podcast platform Audioboom has booked its first ever profit for the first quarter after cashing in on continued growth in on-demand audio. The Aim-listed firm posted adjusted earnings before interest, tax, depreciation and amortisation of $30,000 (£22,000) in the first three months of the year, up from a $500,000 loss the previous year. The maiden [...]
Easyjet eyes late May travel rebound after hefty first half loss April 14, 2021 Easyjet today said it expects passenger numbers to pick up from late May after continued lockdown measures sparked a hefty loss for the first half of the year. The budget airline forecast capacity to hit 20 per cent of 2019 levels in the third quarter, with an increase from late May onwards. It said it [...]
