Chancellor plots one-off Covid grant for benefit claimants January 16, 2021 The Chancellor is reportedly planning a one-off payment for benefit claimants instead of extending the temporary £20-per-week increase. Rishi Sunak met with the work and pensions secretary Therese Coffey on Friday to discuss the alternatives to the increase in universal credit payments, according to The Times. He increased universal credit and the basic working tax [...]
Aviation industry risks collapse without ‘urgent’ support following travel curbs January 16, 2021 The aviation industry risks collapse without “urgent” government support, industry groups have warned following the latest travel curbs. From Monday all travel corridors to the UK will be scrapped to prevent any further spread of the new strains of coronavirus. Travellers arriving in the UK must now provide a negative test pre-departure, followed by a [...]
UK house prices: What will happen to property values in 2021? January 16, 2021 The UK residential property market boomed in 2020, with house prices ending the year at a record high, despite the shutdown of the sector during the first coronavirus lockdown. Government measures such as the stamp duty holiday helped revitalise the market, while the lifting of lockdown restrictions prompted a surge in demand. Lockdown also inspired [...]
In memoriam: Ian Taylor 1946-2020 January 16, 2021 Ian Taylor, who died in June of last year, ran Vitol for two decades. He was well-liked in the City not just for his business acumen, but for his philanthropy – which, it was revealed last week, continued after his death. Bloomberg reported he left £1m to the Royal Opera House and significantly more than [...]
Back to work Monday? Perhaps a four day week is good for all of us January 16, 2021 The idea of moving to a four-day working week has grown in popularity and momentum since Covid, and we’re beginning to see signs that British businesses are warming towards the prospect. Awin, a leading online marketing firm, is currently undertaking one of the biggest trials yet, with their 1,000 strong workforce – including 300 based [...]
Whatsapp delays controversial update following privacy backlash January 15, 2021 Whatsapp has delayed changes to its privacy policy following a backlash that saw scores of users flocking to rival apps Telegram and Signal. The messaging app today said it was pushing back the date by which users would have to accept the new terms, adding that no one would have their account suspended or deleted [...]
Dating app Bumble files for US stock market float January 15, 2021 Dating app Bumble has filed for a US initial public offering, joining a host of major tech companies expected to go public this year. The app, which is backed by private equity giant Blackstone, registered for a float of up to $100m (£74m), though this is a placeholder amount and is expected to change. Previous [...]
ITV taps headhunter Stuart Spencer to pick new chairman January 15, 2021 ITV is said to have hired executive search firm Stuart Spencer as it kicks off the hunt for a replacement to outgoing chairman Sir Peter Bazalgette. The broadcaster’s nominations committee, led by former Jupiter Fund Management boss Edward Bonham Carter, has tapped the US headhunter to scout out potential applicants, Sky News reported. Bazalgette, who [...]
FTSE 100 drops to October lows on recession fears January 15, 2021 The FTSE 100 sunk into the red today, capping off its worst weekly performance since the end of October amid fresh Covid woes. The blue-chip index closed down 0.97 per cent at 6,735 points after new data showed UK GDP fell 2.6 per cent in November, sparking fears of a double-dip recession. London’s main market [...]
Hi-de-hi, hi-de-buy? Blackstone in for Butlin’s owner January 15, 2021 US private equity firm Blackstone is closing in on a stake in the owner of Butlin’s holiday resorts as it looks to cash in on higher demand for staycations after the pandemic. The investment giant is in advanced talks with Bourne Leisure over acquiring a significant holding in a deal that values the company at [...]
