Debate: Will digital retailers continue to hoover up high street chains? January 27, 2021 Boohoo’s purchase of the Debenhams brand, and Asos’ pursuit of Topshop, suggests that the online revolution has very much succeeded. But is it that simple? Vicky Bullen, CEO, Coley Porter Bell says YES You don’t have to be Mike Ashley to spot the enormous opportunity in online retail since the coronavirus pandemic hit. Never before [...]
JP Morgan to launch UK digital bank within months January 27, 2021 JP Morgan will launch a digital consumer bank in the UK within months, the Wall Street giant confirmed today. The new challenger bank will operate under the Chase brand and offer a range of products, including current accounts. JP Morgan said its new business, which is based in Canary Wharf, had already hired 400 people [...]
White prevalence in senior roles drives ethnicity and gender gap at PwC January 27, 2021 PwC has for the first time published its Black, Asian and Mixed Ethnic background pay gaps, with the gap being driven by under representation of ethnic minorities in senior roles. PwC’s overall median ethnicity pay gap, including partners, decreased from 6.3 per cent in 2019 to 3.5 per cent in 2020. The firm’s median gender [...]
EU clears 737 Max for takeoff as Boeing plummets to $13bn loss January 27, 2021 The European aviation regulator has today deemed that Boeing’s 737 Max model is fit to return to service after being grounded for nearly two years. The decision by the European Union Aviation Safety Agency (EASA) came as the aerospace giant posted a mammoth $12.8bn (£9.3bn) operating loss. The twin crises of the grounding and the [...]
Major London law firms still making use of government’s furlough scheme January 27, 2021 Major law firms, some of which are based in the City of London, are still making use of the government’s furlough scheme. City firms Trowers & Hamlins, BLM and and TLT were among those still making use of the coronavirus jobs retention scheme last month, according to HMRC data published by The Lawyer. A spokesperson [...]
Chris Tremlett: Joe Root looked back to his best in England’s confidence-boosting 2-0 win in Sri Lanka January 27, 2021 Sri Lanka may not have looked the best, but that was an important Test series for England – and in particular Joe Root – to win 2-0. The tourists had very little preparation, with limited resources in Loughborough and then just one warm-up game once they got out there. Sri Lanka handed England the initiative [...]
Best of travel: Why the best Chinese food is found in Taiwan January 27, 2021 To tide us over until we’re able to travel again, we’re republishing classic travel stories from our archives. This week we revisit Simon Thomson’s trip to Taiwan, home to some of the world’s finest Chinese food. ••• In 1949, after years of civil war, the nationalist forces of the Kuomintang withdrew to an island in [...]
Apple set to break $100bn quarterly sales record as tech boom continues January 27, 2021 Apple’s bullish run shows no signs of slowing down, with the tech giant expected to join an exclusive club of companies to have earned revenue of more than $100bn (£730m) in a single quarter. Analysts have predicted quarterly revenue of $102.6bn for the iPhone maker, which would mark year-on-year growth of 12 per cent — [...]
Melvin Capital closes Gamestop short position amid Reddit feud January 27, 2021 The hedge fund targeted by Reddit investors Melvin Capital reportedly closed out its short position in Gamestop on Tuesday. The bricks-and-mortar retailer was targeted by an army of Reddit investors from the forum “Wall Street Bets” which boasts more than 2m subscribers. Manager of the fund Gabe Plotkin told CNBC it had closed out its [...]
EU opens up to US clearing houses in blow to City of London January 27, 2021 Brussels will allow US clearing houses operate throughout the EU in what could be a blow to the City of London’s largest clearing agencies. The European Commission announced today that it had decided that the US’ financial regulator’s rules was equivalent to the EU’s around clearing houses. This means the EU will now allow Wall [...]
