Rescue loans considered for manufacturers within bonus curb conditions October 12, 2021 Ministers are considering offering manufacturers rescue loans to help them weather rising energy prices, if they restrict bonuses. Steel, chemical and ceramics manufacturers will be asked to limit bosses’ bonuses and dividends under plans, The Telegraph reported. Business secretary Kwasi Kwarteng is understood to have submitted such a proposal to the Treasury within options to [...]
LVMH enjoys post-lockdown sales boom as shoppers turn to luxury goods October 12, 2021 Sales at French luxury giant LVMH swelled 20 per cent in the third quarter as shoppers rushed to buy high-end fashion amid the return of socialising. The company said like-for-like sales, stripping out the effect of foreign exchange fluctuations, rose to 15.51 billion euros ($17.90 billion) in the three months to September. It sells a [...]
Billionaire hedge fund tycoon Chris Hohn ramps up climate campaign against central banks October 12, 2021 Multi-billionaire hedge fund manager Sir Chris Hohn has ramped up his latest campaign against the banking industry with a set of reforms aimed at quelling its financing of fossil fuel producers, and called on regulators to “immediately reduce” climate-related risk in the financial system. Hohn, who paid himself £343m last year in what is believed [...]
Roof tiler Marley abandons £500m floatation plans amid growing market concerns October 12, 2021 The biggest producer of roof tiles in Britain has abandoned its £500m plans to float on the London Stock Exchange, blaming “market volatility” as investors fear a rise in UK interest rates. Marley Group announced its change of plans this morning despite “considerable institutional investor interest”, according to the company. The news came less than [...]
Coinbase to launch NFT marketplace October 12, 2021 Coinbase has stepped into the NFT arena with the launch of its marketplace for non-fungible tokens (NFTs).
More energy supplier collapses anticipated October 12, 2021 Energy regulator Ofgem is readying itself for a new wave of supplier collapses. At least four suppliers were reported to be in talks with Ofgem on Tuesday, according to Sky News. The companies were understood to be discussing joining the Supplier of Last Resort (SOLR) system. Some companies could make public a decision to cease [...]
THG shares dive after concerns over tech business October 12, 2021 THG shares sank 34 per cent after management failed to win over investors at a presentation on Tuesday afternoon. Executive chair and chief executive of the group, Matthew Moulding, said the group was under a “short attack” from hedge funds betting against its shares, The Financial Times reported. The presentation comes after The Analyst, an [...]
Cabinet office minister warns businesses giving bonuses and dividends to not expect government support October 12, 2021 Struggling companies facing high gas prices could be refused a government bailout this winter if they have paid out big dividends and bonuses. Cabinet office minister Steve Barclay told Times Radio that the Treasury would scrutinise whether any interventions represented “value for money”. He said: “It’s right from a taxpayer point of view, mindful of [...]
US job openings still high despite falling to 10.4m in August October 12, 2021 Although job openings in the US fell in August, they were still significantly high compared to previous years, against a backdrop of worker shortages. In the first time this year the number of new jobs available fell by 659,000 to 10.4m by the end of August, according to figures released by the US Labor Department [...]
Carney backs government support for energy users during gas price crisis October 12, 2021 Mark Carney believes the UK government should support energy users hit by rapidly rising energy costs. With gas prices soaring to record levels, the former governor of the Bank of England appeared to lend his support to the Prime Minister’s upcoming bail-out plans for businesses. The government is set to provide state loans to struggling [...]
