Hospitality sector ‘facing cash crunch’ without further support February 26, 2021 One in five businesses in the UK hospitality sector could run out of cash in the next week unless more emergency support is confirmed, the industry has warned. In a letter to the government, more than 200 hospitality firms warned they faced a “truly perilous” situation with months of continued restrictions ahead. Prime Minister Boris [...]
Pfizer Covid vaccine reduces transmission after one dose, study finds February 26, 2021 A single dose of the Pfizer Covid-19 vaccine could significantly reduce the risk of transmission, results of a UK study found on Friday. Researchers analysed results from thousands of Covid tests carried out each week as part of hospital screenings for healthcare staff in Cambridge. The vaccine, developed in partnership with BioNTech, could cut the [...]
FTSE 100 falls as bond sell-off knocks equities February 26, 2021 The FTSE 100 fell this morning as equities were hit by a global sell-off in bonds due to growing concerns about rising inflation. London’s blue chip index was down 0.5 per cent at 6,618 points, along with the FTSE 250, which also fell 0.5 per cent. Despite the fall, the FTSE 100 is still set [...]
EU likely to grant the City limited equivalence, says French minister February 26, 2021 The EU may grant the City limited access to its financial services market to allow the UK to do business across the bloc, a French minister has said. A minister close to Emmanuel Macron, Clement Beaune said Brussels may be able to grant limited equivalence by the middle of the year. Speaking to Bloomberg he [...]
Insurer RSA posts profit growth ahead of £7.2bn takeover deal February 26, 2021 Insurance group RSA posted a double-digit rise in profit for 2020 ahead of its £7.2bn takeover by a consortium of Canadian and Danish buyers. RSA, which owns brands including More Than, reported operating profit of £751m, up 15 per cent year on year. Group underwriting profit also jumped 36 per cent to a record high [...]
Sainsbury’s workers welcome third pandemic bonus and pay rises February 26, 2021 Sainsbury’s is set to award its staff with a third bonus and pay rises for keeping shops stocked throughout the pandemic, the supermarket chain said this morning. The group has also announced a pay rise, which forms part of a 24 per cent increase in wages for store staff over the last five years. Following [...]
Kalifa Review: Others waiting for UK fintech’s ‘crown to slip’ February 26, 2021 The head of the much-awaited government-backed review into the fintech industry has warned the UK risks falling behind if recommendations aren’t quickly implemented. Former head of payments firm Worldpay Ron Kalifa led the review published today which sets out plans to capitalise on the growing fintech industry. The scope of the review is large, ranging [...]
Tullow Oil signs new $1.7bn loan agreement February 26, 2021 London-listed Tullow Oil today said that it had agreed a new $1.7bn (£1.2bn) loan agreement with its banks, giving the exploratory firm liquidity of $900m. The loan comes as the company continues to negotiate with its creditors over financing its $2.4bn debt pile. Shares in the firm rose 5.5 per cent on the back of [...]
Bitcoin crashes for second time in a week February 26, 2021 Bitcoin’s second price crash of the week has sent a wave of nerves rippling across the cryptocurrency markets with red screens across the board this morning.
Jupiter Fund Management’s assets hit record high despite steep outflows February 26, 2021 Jupiter Fund Management reported record assets at year-end offsetting an increased level of outflows over the year. Assets under management (AUM) finished the year at £58.7bn, slightly ahead of the consensus £57.8bn. The fund manager was no doubt boosted by the defensive acquisition of Merian Global Investors for £390m last July, which added £16.6bn of [...]
