G4S profits swell due to tight cost control during coronavirus pandemic October 14, 2020 Security firm G4S said this morning that profit for the first nine months of the year was ahead of 2019 levels despite a dip in revenue as it clamped down on costs during the coronavirus pandemic. The group’s revenue fell two per cent, which was “more than offset by tight direct and indirect cost control [...]
London’s £10m+ home market is booming in these postcodes despite lockdown pause October 14, 2020 The market for homes worth more than £10m has boomed this year with total sales eclipsing £1bn despite the shutdown of the industry during the coronavirus lockdown.
Mortgage applications soar after coronavirus lockdown lifted October 14, 2020 Mortgage applications soared after lockdown was lifted this summer, reaching an estimated value of £216bn, however the closure of the housing market means lending is expected to be down compared to last year. Pent-up demand and government incentives helped to jolt the UK property market back to life after restrictions were eased following the UK [...]
Amazon Prime Day piles pressure on retailers ahead of Christmas trading period October 13, 2020 Amazon Prime Day has launched today, kicking off the crucial Christmas trading period and piling the pressure on retailers to keep up with online discounting. The Amazon sale, which will see the e-commerce giant slash prices on 13 and 14 October, was postponed from July, bringing it closer to the Black Friday discounting bonanza and [...]
Ikea to buy back used furniture to resell as second hand October 13, 2020 Ikea has launched a scheme to buy back used flatpack furniture to be resold in stores as second hand. The Swedish firm announced this morning that the “Buy Back” initiative is part of its plan to “become a fully circular and climate positive business by 2030”. Customers will be given vouchers to spend in Ikea [...]
Property platform Onthemarket hails surge in potential buyers after lockdown October 13, 2020 Property platform Onthemarket toasted a surge in potential buyers following the lifting of lockdown restrictions earlier this year. Onthemarket said consumer engagement has been very strong after the government eased restrictions on the UK housing market in May, and it had delivered record leads to advertisers. The company said its “new and exclusive” property listings [...]
French Connection warns of further store closures as sales dive October 13, 2020 French Connection this morning warned of further permanent store closures in the coming months as the high street store reported that sales have plummeted due to the coronavirus pandemic. The struggling retailer, which closed nine stores in the first half, said it continued to target the closure of non-contributing sites and expects to shutter more [...]
Record rise in redundancies as firms battle coronavirus crisis October 13, 2020 Redundancies soared to the highest level in more than a decade, rising by a record 114,000 between June and August, due to the impact of the coronavirus crisis. The latest figures from the Office for National Statistics showed that redundancies increased by 113,000 on the year, and a record 114,000 on the quarter, to 227,000. [...]
Ocado sales surge on new M&S deal amid online shopping shift October 13, 2020 Ocado added thousands of new customers following the launch of its partnership with Marks & Spencer amid a sustained rise in the number of consumers choosing to shop online. In the 12 weeks to 4 October, Ocado increased sales by 41.9 per cent as the ecommerce retailer was buoyed by its new deal with M&S [...]
Leicester factory scandal: Boohoo supplier involved in ‘multi-million-pound’ fraud scheme October 13, 2020 Leicester clothing factories with links to Boohoo and Select Fashion have been involved in a “multi-million pound” money laundering and VAT fraud scandal, an investigation has found. Firms based in the city’s garment manufacturing district, some of which were suppliers to the fast fashion retailers, were revealed to have been involved in fraudulent activity relating [...]
