Buying the hype – Are baskets a solution to bubbles? November 17, 2020 The events and turbulence of this year need no explanation. The global pandemic, US election and everything in between have sent dramatic waves across the markets. With so much volatility and uncertainty rocking the markets, stocks have continued to break records and climb to new highs and equal lows throughout the year. In response, increasing [...]
Rishi Sunak ‘pushing’ for cut in UK’s aid budget in spending review November 17, 2020 The Treasury is reportedly pushing Number 10 to slash the UK's annual foreign aid budget of 0.7 per cent of gross national income
Swissport axes 3,000 jobs after ‘refusing’ to access furlough scheme November 17, 2020 Baggage handler Swissport is making 3,000 employees redundant after refusing to put them on furlough, according to a leading union. There was a wave of redundancies ahead of the 31 December deadline for the furlough scheme, which sees the government pay 80 per cent of employees’ wages. The Chancellor Rishi Sunak belatedly extended the scheme [...]
Transport for London to begin e-scooter trials in the spring November 17, 2020 Transport for London (TfL) will begin trialling rental e-scooters in the spring, it was announced today. The transport network will work with London Councils to select three companies for the trials, which will take place across all London boroughs that wish to take part. Trials will last for 12 months, with roughly a third of [...]
Huawei sells Honor smartphone brand as US sanctions bite November 17, 2020 Huawei is selling its budget smartphone brand Honor to a newly-formed consortium of Chinese buyers after US sanctions pushed the division to the brink of collapse. The Chinese tech giant said it will offload Honor’s business assets to Shenzhen Zhixin New Information Technology Co, a group of over 30 agents and dealers, including several state-owned [...]
Ban EY from public contract bids following professional misconduct, urges charity November 17, 2020 The government should consider banning big four auditor EY from bidding on public contracts for three years following a number of recent scandals, charity Spotlight on Corruption has said. The charity has written a 17-page letter to government that accuses EY of “grave professional misconduct” that “renders its integrity questionable”, and suggests there should be [...]
Homeserve boosts profit forecasts as lockdown buoys firm November 17, 2020 Homeserve said it would beat current full year profit expectations after a strong first half saw the home repairs firm increase its revenue by nearly a fifth. The FTSE 100 company posted £536.7m in turnover for the first six months of the year, up 17 per cent on last year’s take. It said that the [...]
How central bankers see the prospects for digicurrencies November 17, 2020 Last week three of the world’s central bankers met for an online European Central Bank Forum: BoE Governor Andrew Bailey, ECB President Christine Lagarde, and Fed Chair Jerome Powell. Their opinions will affect policy for the near-term—policies that determine inflation, interest rates, economic activity, the sales your company makes and the salaries or raises you [...]
Exclusive: UK investors turn to property as they brace for a recession November 17, 2020 UK investors worried about the government’s handling of the pandemic and Brexit are turning to property as they brace for a recession. A survey of over 1,000 investors by FJP Investment reveals nearly two thirds – 62 per cent – are concerned that the government’s mishandling of the pandemic will result in a long-term recession. [...]
Tesla shares pop again on confirmation that firm will join S&P 500 November 17, 2020 Tesla shares jumped 14 per cent yesterday after it was announced that the electric car maker would join the S&P 500 index in December. The admission comes on the back of five consecutive quarters of profit at the California-based firm, which has thrived amid the coronavirus pandemic. Shares in Elon Musk’s company have risen around [...]
