Premier Inn owner Whitbread confirms 1,500 job cuts amid restructuring January 14, 2021 Premier Inn owner Whitbread (WTB) has confirmed 1,500 job cuts following a restructuring of its hotel and restaurant operations as sales tumble amid lockdown restrictions. While the restructure had led to 1,500 job cuts, it is far lower than the 6,000 it had projected in September. The group, which also owns Beefeater and Brewers Fayre, [...]
Crypto markets rally – next stop $50,000 for bitcoin?Crypto sees record demand as bitcoin bounces back January 14, 2021 Crypto at a Glance Was that the dip? It seems reports of Bitcoin’s demise have been, once again, greatly exaggerated. The price of bitcoin is now back at $38,000 and the total cryptocurrency market cap is above $1 trillion again. The sun is shining, the birds are singing in the trees, and the chemical odour [...]
Taylor Wimpey orders increase by £500m despite 2020 pandemic hit January 14, 2021 Taylor Wimpey saw orders increase by £500m despite the housing market shut down, its annual performance review revealed this morning. Despite the house builder suffering during 2020, with housing completions falling nearly 40 per cent, the company started 2021 with an order book valued at £2.7bn, as opposed to their £2.2bn orders for 2019/20. “Looking [...]
Government launches legal action against former Carillion directors January 14, 2021 Ministers have launched legal action against eight former directors of collapsed outsourcing giant Carillion, a move that could see them banned from serving as directors for up to 15 years. Nearly three years after the firm went bust, business secretary Kwasi Kwarteng has brought proceedings against the former chairman, two chief executives, two finance chiefs, [...]
Recruiter Hays sees fees slip a fifth as hiring slump goes on January 14, 2021 Recruitment firm Hays this morning said that second quarter net fees fell 19 per cent as the pandemic continued to squeeze hiring around the world. However, the fall was better than that recorded in the first quarter, where fees dropped 29 per cent. As a result, the FTSE 250 hiring firm said that operating profit [...]
China’s President Xi writes to former Starbucks chairman in push to improve trade relations January 14, 2021 China’s President Xi Jinping has written to Starbucks’ former chairman to promote trade, state media reported this morning. Xi asked former Starbuck’s tycoon Howard Schultz to promote trade and business relations between Washington and Beijing, urging Schultz to “continue to play an active role in promoting China-US economic and trade cooperation”, the official Xinhua news [...]
Dunelm sales jump as lockdown fuels interest in homewares January 14, 2021 Dunelm recorded a jump in sales in the weeks leading up to Christmas despite the closure of its stores, as lockdown measures continued to fuel an interest in home improvements and interior decorating. The retailer said total sales were up 11.8 per cent in the 13 weeks to 26 December, driven by “buoyant” consumer demand [...]
Why everyone’s talking about hydrogen January 14, 2021 What is all the excitement about? Renewable energy can and will decarbonise power generation. Renewable energy and batteries can and will decarbonise the automotive sector. But these technologies will not be as viable for aviation, shipping, commercial vehicles, steel or fertiliser manufacturing. In all of these vital industries it looks as though hydrogen will be [...]
Card Factory suffers loss as closures rip through festive sales January 14, 2021 Closed stores over the Christmas period meant Card Factory suffered significant losses, sending its shares down 4.1 per cent this morning. Card Factory experienced a year-on-year decline of over 38 per cent, where forced store closures prohibited openings for 37 per cent of available trading days. Sales over the eleven-month period fell from almost £425m [...]
Pandemic cycling boom drives growth at Halfords January 14, 2021 Halfords saw sales growth of nearly 12 per cent in the third quarter, boosted by a pandemic-driven rise in cycling. Growth in Halford’s cycling department jumped more than 35 per cent in the third quarter, boosted by a surge in sales for cycling products, e-bikes and e-scooters. The firm’s performance cycling business Tredz grew more [...]
