Uber losses mount even as it expands delivery business February 10, 2021 A strong showing from Uber’s delivery service has not helped to offset huge losses amid dwindling demand for rideshares. The ride-hailing app has faced huge setbacks as lockdown restrictions all but decimated its core business. In the third quarter the company posted losses of more than £1bn and revenue also missed analysts’ estimates. Uber reported [...]
Bank of England’s Alex Brazier steps down from Financial Policy Committee February 10, 2021 The Bank of England’s executive director for financial stability strategy is stepping down to take a career break. Alex Brazier has worked at the bank for two decades and served as former Governor Mervyn King’s principal private secretary. “Throughout my career, I’ve been very lucky to have worked with such an incredibly talented group of [...]
KPMG UK chair steps down after telling staff to ‘stop moaning’ February 10, 2021 KPMG UK chairman Bill Michael is stepping aside amid a probe into alleged comments made during an online meeting with consultants. On Monday, the Financial Times first reported Michael told consultants to “stop moaning” about working conditions during the pandemic. He reportedly told staff to stop “playing the victim card”. The chairman apologised saying: “I [...]
Westfield London owner posts €7.6bn loss after rent squeeze as UK tenants go bankrupt February 10, 2021 The shopping centre landlord that owns Westfield London, Stratford City and a swathe of similar mega-malls across Europe and the US has seen its like-for-like rental income drop 24 per cent.
Are vaccine passports inevitable to keep the global travel industry afloat? February 10, 2021 Transport secretary Grant Shapps today gave the clearest indication yet that people could soon be required to prove they had been vaccinated in order to travel abroad. Speaking to the BBC, he confirmed talks had been held with his counterparts in the US and Singapore over creation of an international vaccine certification system. Such a [...]
BoE’s Bailey: EU demanding more of London than other partners February 10, 2021 The Bank of England Governor has hit out at the EU for expecting more of London than its other partners when it comes to a post-Brexit financial services agreement. In his Mansion House speech, Andrew Bailey said Brussels’ demands were far higher than when the bloc negotiated with Canada, the US, Australia and others. “The [...]
Rusty Rabbit is Europe’s first black female owned Champagne February 10, 2021 Lapin Rouillé Champagne, which means “Rusty Rabbit” – has become the first and only female black-owned Champagne brand in Europe. Sourced from a small single estate producer near Reims, Nichole Johnson’s Rusty Rabbit is made from 100 per cent Pinot Meunier grapes. Johnson’s Rusty Rabbit Drinks portfolio includes Brentingby True Craft Gin, Revel Spirits, California’s [...]
Musk’s mischief sends shockwaves through crypto markets February 10, 2021 Elon Musk has disrupted the cryptocurrency world yet again with Doge tweet
The Little Things – Washington can’t save detective yarn February 10, 2021 Director John Lee Hancock (The Blind Side, Saving Mr Banks) brings a long gestating project to the big screen. The Little Things was written by the filmmaker in 1993, originally intended for Steven Spielberg to direct. Nearly three decades later, the story sees the light of day with Denzel Washington and Remi Malek on the [...]
Man Down: Rihanna’s Fenty fashion line closes after two years February 10, 2021 Pop star Rihanna is closing her Fenty fashion line less than two years in production. Luxury goods group LVMH announced it was putting the brand “on hold” but pledged to concentrate on the “Fenty ecosystem” which includes Rihanna’s lingerie and beauty ranges. The singer and Louis Vuitton owner launched the brand in May 2019 and [...]
