Sunak’s Budget set to be a mix of tax rises and Covid cash giveaways February 25, 2021 Rishi Sunak’s Budget next week will reportedly be characterised by a mixture of Covid support extensions and tax rises, with few extra funds for day-to-day departmental spending. This is set to include a £30bn package to extend current Covid support schemes – including the furlough scheme, VAT cut for retail and hospitality, stamp duty exemption [...]
City A.M. TV: Daily Market Snapshot (video) February 25, 2021 City A.M. TV: Daily Market Snapshot (video)
Exclusive: Jefferies drops mooted ‘no jab, no entry’ policy for office return February 25, 2021 Global investment bank Jefferies has dropped plans to require staff to receive a vaccine before returning to the office, City A.M. can reveal. An all-staff memo, sent at the start of the month, said that “verification of vaccination will be required to access the office” once work-from-home restrictions were lifted across the globe. But a [...]
Cardano hard fork ‘Mary’ proudly announced while the Saylor Musk saga keeps on turning February 25, 2021 Bitcoin markets appear to settle but Elon Musk continues to make mischief with his tweets about Doge coin.
Asda puts 5,000 jobs at risk in online shopping push February 25, 2021 Asda has put around 5,000 jobs at risk as it aims to simplify the business and focus on its online shopping offer. The grocer this morning said it had begun formal consultations with 5,000 employees, but that it will create 4,500 new jobs in online operations this year. The supermarket has proposed the simplification of [...]
Atom Bank taps investors for cash as it targets IPO February 25, 2021 Digital challenger Atom Bank is looking to raise £40m from existing investors as it targets an IPO in the next few years. The neobank Atom is confident it will move to profitability from its mortgage and business lending “within a year”. The optimism contrasts with its fintech peers which have faced difficulties since the outbreak [...]
Retail landlord Shaftesbury expects West End ‘revival’ as lockdown lifts February 25, 2021 West End landlord Shaftesbury this morning said occupier interest had improved after the lockdown lifting roadmap was announced, saying the easing of restrictions will herald a “revival” of the London’s theatre and shopping district. However, the FTSE 250 developer said current restrictions were continuing to have a “significant impact on economic activity and consumer spending [...]
Channel Tunnel operator Getlink sees summer bookings jump after profit tumbles February 25, 2021 Channel Tunnel operator Getlink this morning said that its earnings fell two-fifths last year as a result of travel restrictions caused by the pandemic. But chief executive Yann Leriche said that Boris Johnson’s recent announcement of an end to travel restrictions on 17 May had prompted a 200 per cent surge in bookings. The firm [...]
Brits could receive £480m payout in Qualcomm smartphone legal case February 25, 2021 Roughly 29m Brits could be entitled to a £480m payout if a landmark legal claim against US chipmaker Qualcomm is successful. Consumer group Which is suing Qualcomm over claims it breached UK competition law by taking advantage of its dominance in the patent-licensing and chipset market. The lawsuit alleges that this enabled the chipmaker to [...]
British Gas owner Centrica falls to £360m loss as warm weather and lower prices bite February 25, 2021 British Gas owner Centrica said today that it fell to a £362m statutory loss due to a combination of coronavirus, lower commodities prices, and a spell of warm weather. The loss is less than half the £783m hit the firm reported last year. It also said it would not pay out a divided for last [...]
