Tencent shares fall ten percent amid crackdown fears August 3, 2021 Chinese tech firm Tencent saw shares fall by some 10 per cent on Tuesday after the Chinese government labelled video games “spiritual opium.” An article posted by the state-run newspaper, Economic Information Daily, warned that a “new type of electronic drug” was “advancing by leaps and bounds”. Fears that Beijing might crackdown on online gaming [...]
Greggs bakes in recovery as chain plots high street expansion August 3, 2021 Greggs appears well set for expansion after a sustained recovery in sales as coronavirus restrictions have eased. The British bakery and fast-food chain made £55.5m in pre-tax profit in the first half of 2021, compared to a pre-tax loss of £64.5m in the same period last year. Total sales amounted to £546.2m. The increase in [...]
EU eyes pandemic exit with 70 per cent of population administered first dose August 3, 2021 Despite protests against coronavirus restrictions rocking the streets of Paris and Berlin last weekend, the EU’s quiet move towards an exit from the pandemic continues apace. The European Union surpassed its target of injecting at least one jab into the arms of 70 per cent of its population by the end of July. And according [...]
BP’s dividend edges up as profit beats estimates on climbing oil prices August 3, 2021 BP this morning said it will increase its dividend by 4 per cent and will kick off $1.4bn worth of share buybacks after its profit sprinted past estimates and rose to $28bn in the second quarter, buoyed by higher oil and gas prices. The oil giant raised its dividend to 5.46 cents, beating analysts’ expectations [...]
Olympics: Team GB sailors win double gold as Norway’s Karsten Warholm creates history in the 400m hurdles August 3, 2021 Great Britain’s sailors won two gold medals in quick succession this morning, on day 11 of the Tokyo 2020 Olympics. After a delay to proceedings yesterday owing to no wind, Dylan Fletcher and Stuart Bithell claimed gold in the men’s 49er event. Shortly afterwards Giles Scott retained his men’s Finn title. But the performance of [...]
Rishi Sunak: For young people, working from home is no substitute for office August 3, 2021 Rishi Sunak has said that working from home is not nearly as “valuable” for young people’s career progression as going into the office, after the government changed its guidance. “The mentors I found when I first started my job I still talk to and they have been helpful to me even after we have gone [...]
BMW raises 2021 profit forecast, but warns chip shortage will hit second half August 3, 2021 BMW has raised its profit forecast for 2021 today announcing strong quarterly results while warning investors about the impact of the global semiconductor chip shortage on the carmaker. The company saw “strong customer demand during the first half of the year,” according to a statement by chief executive Oliver Zipse. “However,” he continued, “in light of [...]
The pandemic has the power to set back gender equality and care burdens – we mustn’t let it August 3, 2021 Britain has been at the forefront of empowering women economically and combating gender inequality, but the uneven impact of the pandemic has thrown much of this progress into jeopardy. Research on the economic fallout has found that the pandemic-driven recession may be driving the first “she-cession” where women’s economic prosperity, relative to men’s, has slid [...]
Domino’s profits rocket as ‘Freedom Day’ ushers in more consumer cash August 3, 2021 Domino’s has seen its sales and profits rocket in the past six months, as the end of restrictions in the UK ushered in greater consumer spending power. The pizza group’s profits after tax pulled in £41.3m in the six months to 27 June, surging 117.4 per cent from its just £19m profit in 2020. Sales [...]
Boris Johnson ‘kills amber watch list travel plan’ August 2, 2021 Boris Johnson has quashed the idea of instating a new “amber watch list” for foreign travel after fears of the devastating impact it could have on people’s summer holiday plans. According to multiple reports this evening the Prime Minister has elected to bin the proposal, which triggered outrage on the Tory backbenches. The reports came [...]
