Budget 2021: Kwasi Kwarteng all but confirms furlough extension March 2, 2021 Business secretary Kwasi Kwarteng has appeared to confirm that Rishi Sunak will extend the furlough scheme in tomorrow’s Budget. Kwarteng said today that it was a “fairly good assumption” that the scheme will be extended beyond next month by the chancellor. The scheme – which sees the government part-subsidise people’s wages – is due to [...]
Doing good is now part of doing business: Why every sports brand and athlete needs to help society in order to find commercial success March 2, 2021 The influence and social media reach of sports women and men is incredible – and growing. But who is using it to greatest effect, both for their own benefit and that of society? Cristiano Ronaldo has 263m followers on Instagram and Lionel Messi has over 100m on Facebook. Manchester United, widely regarded as the biggest [...]
Global emissions surge back in December despite record annual fall March 2, 2021 Global carbon emissions have already returned to pre-Covid levels due to surge in energy usage driven by the global economic recovery to the crisis. According to data from the International Energy Agency (IEA), emissions were 2 per cent, or 60m tonnes, higher in December than they were in the same month a year earlier. That [...]
Aldi and Lidl sales growth slows as discounters struggle to compete with Big Four’s online capabilities March 2, 2021 The growth of the discount supermarkets Lidl and Aldi has slowed as the Big Four UK grocers benefitted from their more established online presence during the pandemic. German budget grocers Lidl and Aldi reported that sales were up 10.9 per cent and 5.6 per cent respectively in the 12 weeks to 21 February. However, three [...]
Taylor Wimpey reinstates dividend as profit falls two-thirds March 2, 2021 Housebuilder Taylor Wimpey today said that it would reinstate its dividend after a year in which profit before tax at the firm fell 68 per cent. Having cut its dividend when the coronavirus forced it into site closures in the second quarter, the FTSE 100 company said it would pay out a final dividend of [...]
Step aside, Tesla. We need electric ships to hit net zero March 2, 2021 It is not surprising that the government has already set aside £400m for electric car charging points. Electric cars are familiar, and on their way to becoming mainstream. It makes sense as the Government continues full-steam ahead for their war on climate change. A study released only this week shows their fossil fuel-guzzling counterparts waste [...]
Grave concerns prompt watchdog intervention on pre-paid funeral plans March 2, 2021 The City regulator has launched a consultation on how it plans to regulate the pre-paid funeral plans sector, which has faced criticism from the media and consumer groups. Under its remit, the Financial Conduct Authority (FCA) intends to ensure the products meet the individual needs to consumers, the plans are sold fairly and the price [...]
Blackstone founder took home $610m during the pandemic March 2, 2021 Blackstone boss Stephen Schwarzman’s salary swelled 20 per cent last year as he took home $610m from dividends and compensation. The majority of the pay package stemmed from Schwarzman’s 19.3 per cent stake in Blackstone after the firm’s distributable earnings jumped 16 per cent year-on-year. The private equity boss received $86m in compensation with $524m [...]
Online sales tax would ‘kneecap’ small retailers, startups warn March 2, 2021 The introduction of a new online sales tax would “kneecap” retailers and have a disproportionate impact on smaller businesses, UK startups have warned. In his Budget tomorrow, chancellor Rishi Sunak is expected to launch a consultation on new levies targeting online retailers such as Amazon and Asos that have seen their profits soar during the [...]
Alibaba billionaire Jack Ma dethroned as China’s richest man March 2, 2021 Alibaba founder Jack Ma has been dethroned as China’s richest man after disappearing from the public eye late last year, according to multiple media reports in China. The billionaire and Ant Group founder lost the title after his empire was placed under heavy scrutiny by Chinese authorities following challenges to fintech regulators he made in [...]
