UK borrowing to hit record £394bn as economy shrinks 11.3 per cent November 25, 2020 Government borrowing is set to soar to a peacetime record of £394bn this year while the economy will contract at the fastest pace since the 1700s thanks to the coronavirus pandemic, according to bleak predictions from the UK’s budget watchdog. The figures from the Office for Budget Responsibility (OBR) show that unemployment is expected to [...]
Going green – Does it threaten the future of oil speculation? November 25, 2020 Going green has rapidly risen on the agendas of the world’s leading companies, and by extension, investors big and small. You don’t have to look far in the news to see the growing popularity, if not expectation, of Environmental, Social and Governance (ESG) values being adopted in boardrooms. Combine those changing attitudes with the chaos [...]
Franco Manca owner The Fulham Shore to open new sites in vote of confidence for London’s restaurant sector November 25, 2020 Franco Manca owner The Fulham Shore is opening new London restaurants in a vote of confidence in the capital’s hospitality sector despite the impact of the coronavirus pandemic. The company said today that it launched a Franco Manca restaurant in Waterloo in September that had traded well before the most recent lockdown, despite lower than [...]
Spending review live: Sunak pledges cash for city centres and transport but aid and public sector pay cut November 25, 2020 Spending review live: Sunak pledges cash for city centres and transport but aid and public sector pay cut
Selling like hot cakes: Bake Off final smashes Channel 4 ratings record November 25, 2020 Channel 4 last night smashed its ratings records after millions of Brits tuned in to the final of The Great British Bake Off. The final baked up a storm with a record-breaking average audience of 9.2m viewers, taking an almost 40 per cent slice of the audience pie. Viewing numbers for the baking bonanza peaked [...]
ECB says banks still vulnerable to corporate coronavirus debt November 25, 2020 The Eurozone’s banks are likely to have to put aside more cash to pay for loan losses as the recovery from the coronavirus crisis enters a new stage, the European Central Bank (ECB) has said. “Bank profitability is expected to remain weak. Provisions have increased but look optimistic in some cases,” said Luis de Guindos, [...]
Crypto Extreme November 25, 2020 Macro Trends Narratives and broader macro trends can push valuations and multiples to extremes (too high or too low), even if the underlying fundamentals tell a different story. On that note, the Dow reached record highs amid what John Hussman of Hussman Funds described as capitulation in the face of overwhelming liquidity. With that in [...]
Shakespeare: Walkers’ ad fails to flavour up Christmas amongst new customers November 25, 2020 By the end of November most brands have released their Christmas adverts, and this year is no exception. One brand keen to be known for their festive feature is crisps manufacturer Walkers, whose advert this year features viral YouTuber LadBaby, Gary Lineker and others. The advert sees Christmas carols turned into “Sausage CaROLLs” as a [...]
Hoxton hotel chain Ennismore to merge with Ibis owner Accor November 25, 2020 Ennismore, the owner of London hotel chain Hoxton, is planning to merge with Accor, the parent company of Ibis, Novotel and Mercure, in further consolidation for the struggling travel and tourism industry. The companies announced an all-share merger which is expected to create cost synergies of €15m a year, while the deconsolidation of existing leases [...]
EU watchdog: Commission failed in vetting Blackrock climate contract November 25, 2020 The EU watchdog has given the European Commission a slap on the wrist for failing to weigh up possible conflicts of interest when it hired Blackrock to help look into green banking rules. EU ombudsman Emily O’Reilly asked the Commission – the executive branch of the bloc – to consider toughening up its conflict of [...]
