Jaeger and Peacocks collapse into administration, putting 4,700 jobs at risk November 19, 2020 Fashion chains Jaeger and Peacocks have collapsed into administration, putting 4,700 jobs and almost 500 shops at risk. The latest blow to the UK high street comes just weeks after the owner of both retailers began insolvency proceedings for sister brand Edinburgh Woollen Mill. Administrators have been unable to find a buyer for Jaeger or [...]
Nightclub owner Deltic asks for rent holiday as it warns of closure November 19, 2020 The UK’s largest nightclub operator has asked for a break from rent payments as it warned of imminent collapse unless a sale can be agreed. Deltic Group, which owns brands including Oceana and Przym, has put itself up for sale after months of closure during the pandemic threatened to force the company into liquidation. But [...]
FTSE 100 and global stocks fall after vaccine sugar-rush November 19, 2020 The FTSE 100 and global stocks dropped as worries about rising coronavirus cases and longer-than-expected lockdowns knocked the index after positive vaccine news drove it higher yesterday. London’s main stock index fell 0.9 per cent to 6,327 points by mid-afternoon. The FTSE 250 of slightly smaller firms also fell 0.9 per cent. In the US, [...]
Qatar’s sovereign wealth fund invests in Lloyd’s insurance vehicle Inigo November 19, 2020 A group of investors including Qatar’s sovereign wealth fund are reportedly in talks to back the new Lloyd’s of London vehicle Inigo. Earlier this week Enstar and Stone Point Capital announced it had sold certain underwriting assets, including its Lloyd’s Syndicate 1301 and its managing agency, to Inigo. The new company is led by former [...]
Toy stores demand to reopen or risk ‘allowing Covid to steal Christmas’ November 19, 2020 Toy stores have urged the Prime Minister to allow their shops to open as essential businesses during lockdown, or risk allowing “Covid to steal Christmas”. In a letter to Boris Johnson, toy industry chiefs warned that without bricks and mortar trade during November and December many stores will be forced to close permenantly. British Toy [...]
From drill music to Baby Shark: The record label plumbing profits from subculture hits November 19, 2020 There is, on the face of it, very little to connect Baby Shark with Headie One. The first is an infuriatingly catchy children’s song that is now the most-watched Youtube video in history. The other is a drill rapper from Tottenham who was jailed in January for carrying a knife before releasing a chart-topping debut [...]
Boris Johnson set to only warn Priti Patel over bullying claims November 19, 2020 Boris Johnson is reportedly preparing to censure Priti Patel over bullying civil servants, but will stop short of sacking the home secretary. An inquiry into Patel’s conduct toward civil servants in the Home Department was launched nine months ago after a series of complaints. Included among the complainants was the department’s top civil servant Philip [...]
UK salaries rise by 1.7 per cent on low inflation November 19, 2020 UK employees in the private sector received a better-than-forecast average salary increase this year next year are set to be muted. ECA International’s Salary Trends report reveals most employees received a 1.7 per cent salary increase, ahead of the forecasted 1.1 per cent due to low inflation. Real salary increase is based on the difference [...]
Government-backed Covid loans swell to £65.5bn November 19, 2020 The government has given banks guarantees on £65.48bn of lending to businesses hit by the coronavirus via the Bounce Back Loan scheme. According to the latest finance ministry data, the biggest part of the lending was to small businesses, for which banks received a 100% state guarantee on £42.18bn of loans that have been made. [...]
Game over: Major retailer websites crash amid PS5 release frenzy November 19, 2020 The websites of major retailers including Amazon, John Lewis and Currys crashed this morning after frenzied gamers rushed to get their hands on the new PS5. Shoppers hoping to get their hands on the latest console also ran into problems on the Tesco and Game websites, as retailers were overwhelmed by demand. Amazon released its [...]
