Easyjet cancels all holidays until late March January 15, 2021 Easyjet has cancelled all holidays until the end of March as a result of international travel restrictions brought about by the latest lockdown. The airline is in the process of cancelling holidays booked up to and including March 24 and is contacting affected passengers to offer them a range of options, including future holiday credit [...]
Covid mutations: what we know so far January 15, 2021 A Brazilian variant of coronavirus has arrived in Britain, one of the UK’s leading scientists announced this morning. Speaking during a Science and Media Centre briefing, Professor Wendy Barclay said: “There are two different types of Brazilian variant and one of them has been detected in the UK.” Transport secretary Grant Shapps this morning insisted [...]
The City A.M. Punter Podcast EP:35 Warwick & Market Rasen January 15, 2021 The cold weather has been dominating racing again during the week, but both Warwick and Market Rasen are fairly confident of staging meetings this weekend Trainer Tom Lacey joins to chat about Adrimel who has won his last two races and goes for a hat-trick of wins at Warwick on Saturday. City AM racing editor [...]
Business interruption case: Light at the end of the tunnel for SMEs January 15, 2021 Hundreds of thousands of businesses will today breathe a sigh of relief after the Supreme Court ruled leading insurers must pay out on business interruption policies. The court “substantially allowed” the appeal brought by the Financial Conduct Authority (FCA) and campaign groups Hiscox Action Group and Hospitality Insurance Group Action. It brings months of uncertainty [...]
More than 200 jobs axed after M&S deal to buy Jaeger fails to save stores January 15, 2021 More than 200 high street jobs have been axed after womenswear brand Jaeger collapsed, resulting in the closure of its 63 stores. Marks & Spencer has acquired Jaegers stock and marketing assets but the retailer’s stores and concessions were not part of the deal. In total 211 store staff and 22 head office employees have [...]
Babcock shares plunge nearly 20 per cent before profitability review January 15, 2021 Babcock shares sank this morning after it said £100m had been shaved from its profit.
Petrofac shares sink after former executive pleads guilty to $30m Abu Dhabi contracts bribe January 15, 2021 Shares in Petrofac are down 20 per cent today after its former global head of sales pleaded guilty to further bribery charges. David Lufkin pleaded guilty in Westminster Magnistrates Court to another three counts of bribery in charges brought aginst him by the Serious Fraud Office (SFO). Lufkin offered and paid bribes of around $30m [...]
Plus-size retailer N Brown’s shares drop after pandemic hits revenue January 15, 2021 Shares in plus-size fashion retailer N Brown plunged this morning after the company, which owns Simply Be and Jacamo, announced a dip in revenue due to a drop off in occasionwear sales during the pandemic. N Brown’s share price fell 13.48 per cent to 64.2p after it reported a 1.4 per cent drop in product [...]
5 things you need to know about DeFi January 15, 2021 Towards the end of 2020, we witnessed an explosion in Decentralised Finance (DeFi) usage and awareness. These projects aim to decentralise the intermediary in financial transactions, moving away from the traditional rent-seeking finance model and toward stakeholder finance. Here’s what you need to know about this fast-growing industry. Open Innovation verse Walled Gardens DeFi networks [...]
Ether demand boom sparks liquidity crisis? January 15, 2021 Crypto at a Glance Bitcoin came back within striking distance of $40,000 again yesterday and has now recouped most of its losses from the dip earlier this week. There have been a number of reasons posited for the retrace and subsequent recovery, and it’s likely that a large part of it was simply the natural [...]
