Commercial landlord Segro bucks trend to collect majority of rent owed in 2020 January 15, 2021 Commercial landlord Segro has bucked the current trend to collect almost all of the rent due last year, as its out-of-town business property assets proved to be resilient during the pandemic. The real estate investment trust (Reit) said it had collected 98 per cent of the £417m owed in 2020. Segro has also received 88 [...]
Hammerson finance chief James Lenton to step down January 15, 2021 Hammerson has announced its chief financial officer James Lenton intends to step down after less than 15 months in the role. The company, which owns Birmingham’s Bullring shopping centre, said it had started looking for Lenton’s replacement but he would continue in his role until then. Lenton took the role in October 2019, before the [...]
Minister insists vaccine works against Brazilian Covid variant as travel ban begins January 15, 2021 A Brazilian variant of the coronavirus is concerning enough to justify stopping flights from South America, Transport Secretary Grant Shapps said today. Shapps insists that the decision, which came into force at 4am this morning, was precautionary and does not mean vaccines would not work against the variant. “As with the variant that we saw [...]
Ashmore assets rise 9 per cent but net outflows persist January 15, 2021 Wealth manager Ashmore Group’s (ASHM) assets under management (AUM) rose by $7.5bn in the second quarter as positive market movements helped to offset outflows. The investment manager, which focuses on emerging markets, said total AUM rose 9 per cent to $93bn as at 31 December, after a positive investment performance of $8.1bn. But Ashmore still [...]
The Gym Group eyes expansion despite pandemic hit to trading January 15, 2021 The Gym Group is eyeing future expansion opportunities despite the impact of the pandemic on trading, which caused revenue to plummet last year. The budget fitness chain said total revenue last year was £80.5m, down from £153.1m in 2019, as the company lost 45 per cent of trading days due to closure as a result [...]
UK set for double-dip recession as GDP plummets 2.6 per cent January 15, 2021 The UK economy shrank by 2.6 per cent in November as the Covid-19 pandemic took hold of multiple sectors across the country, according to new figures published this morning. The Bank of England estimates Britain’s economy shrank by just over 1 per cent over the final three months of 2020. With a new lockdown in [...]
SFO closes investigation into British American Tobacco January 15, 2021 The Serious Fraud Office (SFO) has closed its investigation into British American Tobacco (BAT), its subsidiaries and associated persons. The SFO said the evidence in the case did not meet the evidential test for prosecution. According to the BBC, BAT, which owns brands Lucky Strike and Pall Mall, was under investigation over allegations it paid [...]
Major UK business body calls for furlough scheme extension to July January 15, 2021 One of the UK’s largest business lobbies is calling for the government to extend the furlough scheme to July and to give out a fresh round of business grants worth £25,000 each. The British Chambers of Commerce (BCC) also called for temporary VAT cuts and business rates relief to be extended, with the group saying [...]
Govt says it won’t lower employment rights in Brexit wake January 15, 2021 The government has rejected a report that it plans to tear up EU employment protections, which include the 48-hour working week. The deregulation is being put together by the business department with Downing Street’s blessing, the Financial Times reported, but has not yet been agreed by ministers. The main areas of focus were reportedly on [...]
London needs offices to thrive to secure its global future January 15, 2021 Are cities dead? There are plenty who think so – but Britain should hope they’re wrong. “The history book has not yet been written for cities” is the rallying cry emanating from Government. Those were Rishi Sunak’s words, echoing the Prime Minister’s faith when he spoke with FTSE 250 leaders last week that, post-pandemic, we [...]
