FTSE 100 slips but global markets hit fresh highs on vaccines and stimulus December 17, 2020 The FTSE 100 slipped, weighed down by a rising pound, as global markets hit a new all-time high amid optimism about vaccines and fiscal and monetary stimulus. Despite the rise in global stocks, the FTSE 100 lagged behind as the pound rose 0.8 per cent to $1.360, a 32-month high. A higher pound weighs on [...]
Tide to introduce new business payroll service in 2021 December 17, 2020 Business fintech firm Tide has announced that is it to release its first payroll service via its banking app in early 2021. Tide Payroll will be HMRC compliant and will allow SMEs to conduct their payroll from within their Tide account with an all-in-one payroll service that will allow users to run payroll and pay [...]
Upper Crust owner SSP swings to huge loss as travel restrictions continue December 17, 2020 Upper Crust owner SSP swung to a huge loss this year as the travel food operator’s sales suffered a sharp drop due to a reduction in passenger numbers. Profit plunged from £197.2m in 2019 to a loss of £425.8m in the year ended 30 September as the impact of coronavirus restrictions hurt sales. SSP reported [...]
Exclusive: 33,000 suspicious activity reports filed as Covid fuels fraud December 17, 2020 Some 33,000 suspicious activity reports (SARs) linked to the Covid-19 pandemic have been filed this year, suggesting government schemes designed to help people and businesses through the pandemic are open to abuse. SARs are filed by professionals working in a regulated sector, typically bankers, lawyers and accountants, and alert law enforcement to potential instances of [...]
Mid-market firms optimistic about Brexit impact despite talks dragging December 17, 2020 Despite the increasing possibility of a no-deal Brexit, 38 per cent of UK mid-market business predict that Brexit would have a positive impact on their business.
Industrial services firm Altrad hails ‘robust’ year December 17, 2020 Industrial services giant Altrad said that it was optimistic about its future prospects after a “robust” financial performance in 2020. The Montpellier-based group, which provides services for the oil, gas, and petrochemicals sectors, said that it had managed to maintain profitability despite intense pressure from the pandemic. Over the year revenue dropped a sixth, from [...]
Breaking the barrier December 17, 2020 Monkey of the back Bitcoin finally pierced its way through the key $20,000 level and more important for the longevity of the uptrend, the break did not result in an aggressive trigger of stops. Instead, the break was well managed and steady. The subsequent price action was equally steady, even if somewhat one directional and [...]
Pimlico Plumbers flush with cash despite pandemic pressure December 17, 2020 Pimlico Plumbers has defied the potential impact of coronavirus on its books and increased its pre-tax profits in its latest financial year. The central London-based company achieved turnover of £43.27m for the 12 months to 31 May 2020. This is compared to £44.84m reached during its previous financial year. Pimlico Plumbers said the drop in [...]
Pound hits 31-month high on Brexit hopes and dollar weakness December 17, 2020 The pound has shot up to its highest level since early 2018, with investors hoping the UK will soon sign a post-Brexit trade deal and the dollar falling sharply. Sterling was last up 0.6 per cent at $1.358, a 31-month high. It was 0.3 per cent higher against the euro at €1.111. The British government [...]
Talktalk to go private after £1.1bn Toscafund deal December 17, 2020 Talktalk has this morning announced that it will be taken private in a £1.1bn deal with shareholder Toscafund and private equity firm Penta. Under the offer, shareholders of the broadband supplier will receive 97p per share, a 16 per cent premium on shares as of 7 October, when the offer was first made. The deal [...]
