SoftBank to pause investment in China as tech crackdown withers shares August 10, 2021 SoftBank will take a “wait and see” approach and pause its investments in Chinese tech startups until Beijing’s current regulatory crackdown on the sector calms, chief executive Masayoshi Son said on Tuesday. Son hoped the situation will be resolved and new rules for the sector would be introduced within “a year or two”, but still [...]
Watches of Switzerland reports ‘extremely strong’ UK sales August 10, 2021 Luxury watchmaker Watches of Switzerland revenue has almost doubled during its first quarter with “extremely strong” UK trading. Group revenue was £297.5m during the first quarter, up from £151.6m last year, as shoppers were keen to purchase both luxury watches and jewellery. UK sales grew 104.7 per cent compared to the first quarter of the [...]
Travers Smith partner profits soar 21 per cent to £1.2m August 10, 2021 Travers Smith partner profits have soared by over a fifth to £1.2m, following investment in asset management, M&A and dispute resolution. Profit per equity partner rose by 21.5 per cent to £1.2m while turnover was up 15 per cent at £186m according to provisional figures for the year ended 30 June 2021. “None of us [...]
Record high marks given to A-level students August 10, 2021 Almost half (44.8 per cent) of all A-Level grades handed out today were either A or A*, a record high in A-level history. Sixth-formers have received teacher predicted results today after exams were cancelled due to the pandemic. Concerns have been raised around inflated grades with pupils given results given by teachers for the second [...]
Hybrid working powers office provider IWG towards recovery August 10, 2021 IWG, a company that delivers real estate solutions for businesses, has made a modest financial recovery as hybrid working brings employees back to offices. IWG’s interim results show that while revenue across its centres has fallen by 10.4 per cent in the first half of 2021 compared to the same period last year, revenue has [...]
Tower Bridge reopens after being stuck in raised position overnight August 10, 2021 Tower Bridge has finally reopened to traffic after a technical fault caused the London landmark to jam in an open position overnight. The bridge was raised for a scheduled lift yesterday afternoon, but remained open for almost 12 hours, shutting down one of the main roads across the Thames before it reopened to traffic at [...]
Brits still using pennies and pounds to buy goods August 10, 2021 Cash is continuing to play a significant role in facilitating transactions as Brits flock to high streets after “Freedom Day”, new figures released today reveal. A record £665m was withdrawn from Post Office counters in July, the highest monthly total excluding the historically busy Christmas period ever. Personal cash withdrawals in July were up 4.6 [...]
Consumer fatigue slows retail sales growth August 10, 2021 Signs of fatigue among consumers after the initial burst in spending triggered by the gradual easing of Covid restrictions are starting to emerge, according to new figures released today. Research from the British Retail Consortium and KPMG show retail sales jumped 9.8 per cent in July compared to the same period in 2019, before the [...]
Euro 2020 and ‘Freedom Day’ lift consumer spending above pre-Covid levels August 10, 2021 Euro 2020, the Tokyo 2020 Olympics and “Freedom Day” provided the perfect storm to lift consumer spending above pre-Covid levels, new figures released today reveal. Data from Barclaycard shows consumer spending was 11.6 per cent higher than in the same period in 2019, before the onset of the Covid crisis. Consumers rushed to pubs to [...]
Oops: Traffic chaos mounts after Tower Bridge gets stuck open August 9, 2021 The moving elements of Tower Bridge remain stuck in the raised position tonight, shutting down one of the main road arteries across the Thames. The Bridge was raised to allow a sailboat passage along the river, but the bridge’s bascules this afternoon became lodged in the raised position. The technical fault last occurred in August [...]
