Plus-size fashion retailer N Brown reshuffles board amid chairman’s exit February 25, 2021 N Brown, the plus-size fashion retailer, announced this morning that its chairman will step down to focus on his other business activities. The firm, which owns Simply Be and Jacamo, said Matt Davies will leave the group from 31 March and will be replaced by Ron McMillan, who will subsequently give up his senior independent [...]
David Cameron tells Sunak not to raise taxes in Budget next week February 25, 2021 Former Prime Minister David Cameron has urged Rishi Sunak not to hike taxes in next week’s Budget amid speculation he is set to increase corporation tax to help pay off the UK’s Covid spending. Cameron said increasing corporation tax “wouldn’t make any sense at all” before the UK’s economic recovery is further advanced and compared [...]
Soho House mulls $3bn New York listing amid IPO boom February 25, 2021 Private members’ club Soho House is the latest company reportedly mulling a New York listing with a valuation of up to $3bn. Soho House, which operates 27 clubs around the world, first considered a Wall Street listing in 2018. This time round the company has hired JP Morgan and Morgan Stanley and is looking to [...]
Tesla temporarily freezes production at California assembly plant February 25, 2021 Tesla, Elon Musk’s electric vehicle company, has told workers it will temporarily freeze parts of production at its assembly plant in California. Workers on a Model 3 production line in the California-based Fremont factory were told their line would be down from Monday until 7 March, according to Bloomberg. Impacted staff expected to take holiday [...]
Judas and The Black Messiah: Kaluuya a shoo in for awards February 25, 2021 Two of the most exciting actors of their generation reunite to share the screen in Judas and The Black Messiah, a drama that is hoping to be among the winners come awards season. This true story stars Lakieth Stanfield (Sorry To Bother You, Uncut Gems) as Bill O’Neal, a petty car thief caught by the FBI [...]
Bin firm Biffa snaps up surplus food collectors Company Shop for £80m February 25, 2021 Waste disposal firm Biffa today said that it has bought surplus food group Company Shop for £82.5m. Company Shop, which describes itself as the country’s biggest surplus food firm, collects waste items and then redistributes them to its member organisations. Surplus produce can include production overruns, trial products, or produce that has been incorrectly labelled [...]
Challenger bank Monument raises £28m ahead of summer launch February 25, 2021 A new challenger bank that wants to target wealthy savers has raised £28m from individual investors ahead of its launch this summer. Monument is targeting “mass affluent” clients, including property investors and entrepreneurs, offering a similar service to private banking. The neobank has said it will offer customers the opportunity to seek property investment loans [...]
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 [...]
