The Gym Group eyes expansion despite pandemic hit to trading January 15, 2021 The Gym Group is eyeing future expansion opportunities despite the impact of the pandemic on trading, which caused revenue to plummet last year. The budget fitness chain said total revenue last year was £80.5m, down from £153.1m in 2019, as the company lost 45 per cent of trading days due to closure as a result [...]
UK set for double-dip recession as GDP plummets 2.6 per cent January 15, 2021 The UK economy shrank by 2.6 per cent in November as the Covid-19 pandemic took hold of multiple sectors across the country, according to new figures published this morning. The Bank of England estimates Britain’s economy shrank by just over 1 per cent over the final three months of 2020. With a new lockdown in [...]
SFO closes investigation into British American Tobacco January 15, 2021 The Serious Fraud Office (SFO) has closed its investigation into British American Tobacco (BAT), its subsidiaries and associated persons. The SFO said the evidence in the case did not meet the evidential test for prosecution. According to the BBC, BAT, which owns brands Lucky Strike and Pall Mall, was under investigation over allegations it paid [...]
Major UK business body calls for furlough scheme extension to July January 15, 2021 One of the UK’s largest business lobbies is calling for the government to extend the furlough scheme to July and to give out a fresh round of business grants worth £25,000 each. The British Chambers of Commerce (BCC) also called for temporary VAT cuts and business rates relief to be extended, with the group saying [...]
Govt says it won’t lower employment rights in Brexit wake January 15, 2021 The government has rejected a report that it plans to tear up EU employment protections, which include the 48-hour working week. The deregulation is being put together by the business department with Downing Street’s blessing, the Financial Times reported, but has not yet been agreed by ministers. The main areas of focus were reportedly on [...]
London needs offices to thrive to secure its global future January 15, 2021 Are cities dead? There are plenty who think so – but Britain should hope they’re wrong. “The history book has not yet been written for cities” is the rallying cry emanating from Government. Those were Rishi Sunak’s words, echoing the Prime Minister’s faith when he spoke with FTSE 250 leaders last week that, post-pandemic, we [...]
An introvert’s confession: I really need the office January 15, 2021 I’m an introvert. When people first get to know me they find it ridiculous I tell them this. I apparently do a very convincing impression of someone who isn’t panicking, but the truth is socialising is a very difficult thing for me. When faced with social situations, my flight or fight reflex kicks in, and [...]
Transport for London facing £2bn a year funding gap, warns report January 15, 2021 Transport for London (TfL) is facing a funding gap of up to £2bn every year as a result of Covid-19, a new report has found. The pandemic has forced passengers off London’s transport network in record numbers, causing its finances to crumble. The operator has already received two bailout deals with a combined worth of [...]
Pubs and restaurants suffer festive flop as Christmas sales slump January 15, 2021 Pubs and restaurants were plunged into festive misery as tough Covid-19 lockdown restrictions prompted a slump in sales in Christmas. UK boozers and eateries saw total sales drop by almost three-quarters during what should have been the sector’s busiest trading period of the year. Drink-led pubs and bars were worst hit, with sales down 83.7 [...]
Ladbrokes owner Entain ‘lines up’ first female gambling boss January 14, 2021 Ladbrokes owner Entain is said to be lining up the first female chief executive of a major listed UK gambling firm as it pushes back against a £8bn takeover approach from MGM. Entain, formerly known as GVC, is in advanced talks to appoint board member Jette Nygaard-Andersen as its new boss, Sky News reported. It [...]
