The curse of the Mail-In Vote: How this contested US election became a horror show November 4, 2020 For a number of months now, good political risk man that I am, I have worried aloud in these pages with increasing dread about the 2020 US presidential election. There are times when you hate being right about making correct political risk calls. The Iraq War debacle was surely such an occasion for me. Sadly, [...]
UK services sector ‘close to stalling’ as coronavirus cases surge November 4, 2020 The recovery in the UK services sector slowed sharply in October as a surge in coronavirus cases and new restrictions knocked the economy, a survey has shown. The IHS Markit/Cips services purchasing managers’ index (PMI) – a closely followed measure of the sector’s health – fell to 51.4 in October, down heavily from 56.1 a [...]
Prop 22: Uber and Lyft win California bid to class drivers as contractors November 4, 2020 Uber and Lyft have secured a major victory today after winning a vote in California that allows the ride-hailing apps to continue classing their drivers as contractors rather than employees. Voters in California yesterday passed Proposition 22, a state ballot measure that will enable companies in the gig economy to bypass labour laws. Roughly 58 [...]
Marks & Spencer posts first loss in firm’s history November 4, 2020 Marks & Spencer posted its first loss in 94 years as a publicly listed company as clothing sales collapsed due to the coronavirus crisis. The high street stalwart reported a £87m pre-tax loss for the first half of the year. In the same period last year it made a profit of £158.8m in the same [...]
BMW profit races back but second wave fears abide November 4, 2020 Car giant BMW’s profit came roaring back in the third quarter as growing Chinese demand for its cars helped the firm recover from the coronavirus pandemic. Profit at the German auto company rose 9.6 per cent to €2.5bn in the period, up from 2.2bn last year. BMW was boosted by a 31 per cent sales [...]
STV holds guidance as advertising recovery beats expectations November 4, 2020 Scottish broadcaster STV today said advertising had bounced back more quickly than expected following a coronavirus-induced slump, though it warned the short-term outlook remained uncertain. STV, which holds the channel 3 licence in Scotland, suffered a 20 per cent drop in advertising revenue in the first half of the year as the outbreak of coronavirus [...]
Shakespeare: Monzo’s tough year doesn’t improve with new card November 4, 2020 Monzo has had a tough 2020 so far. During the COVID-19 pandemic, the challenger bank has laid off employees, doubled its losses, and faced difficult questions about its viability as a “going concern”. October proved to be no exception. New data from YouGov BrandIndex shows that Monzo’s latest attempt to launch paid-for accounts adversely affected [...]
Shares in cyber firm ECSC spike as home working drives up demand November 4, 2020 Shares in ECSC jumped more than 11 per cent this morning as the cybersecurity firm said a shift to home working during the pandemic had boosted demand for its services. In a trading update for the four months since June, ECSC said revenue and profit had continued to rise as clients bolstered their cyber defences. [...]
Marcus Rashford and the new player power: it won’t be long until clubs and sponsors put a price on it November 4, 2020 Just when you think that 2020 can’t throw up any more surprises, Marcus Rashford, a 23-year-old footballer, becomes the government’s loudest source of opposition. At the time of writing there’s been no U-turn on extending the provision of free school meals when faced by Rashford’s campaign. But by generating support and sentiment through his 3.7m [...]
Ahold Delhaize launches €1bn share buyback as Covid-19 boosts sales November 4, 2020 Supermarket giant Ahold Dehlaize today said it will launch a €1bn (£896m) share buyback as it posted a rise in revenue for the third quarter. The retailer, which operates grocery chains across the US and Europe, said the buyback will begin at the beginning of 2021 and marked the strength in its business model. It [...]
