Christmas shoppers flock to toy shops ahead of second Covid-19 lockdown November 10, 2020 Toy and entertainment retailers reported a surge in shopper numbers in the days leading up to the coronavirus lockdown, as Brits snapped up Christmas presents ahead of the closure of non-essential stores. The latest analysis showed that toy stores more than doubled their share of pre-pandemic footfall between Monday and Wednesday last week. But one [...]
UK unemployment hits four year high as redundancies reach record levels November 10, 2020 Redundancies hit a record high in the three months to September while the unemployment rate jumped, according to new figures which show the UK’s labour market declined rapidly before the chancellor U-turned on coronavirus support measures. A record 314,000 British workers were made redundant in the three months to September, 181,000 more than in the [...]
Westfield owner rejects €3.5bn rights issue after shareholder backlash November 10, 2020 Shareholders in the owner of Westfield shopping centres have voted against a controversial €3.5bn (£3.1bn) rights issue, the company said today. Unibail-Rodamco-Westfield said its proposals for a capital increase had failed to win the required two-thirds majority following a remote vote that closed yesterday. The Paris-headquartered company faced fierce opposition over the plans from a [...]
Persimmon to pay extra dividend on back of ‘robust’ summer performance November 10, 2020 Housebuilder Persimmon today announced that it would pay an interim dividend of 70p per share in December after fending off the challenges of the coronavirus pandemic. The extra payout comes on top of a 40p per share dividend paid in September, and means that the company will have fully replaced its previously delayed 110p per [...]
Softbank rides e-scooter wave with $250m Tier funding deal November 10, 2020 Softbank has jumped onto the booming e-scooter market, leading a $250m (£190m) investment round in Berlin-based Tier. Tier has grown rapidly since its inception in 2018, and now operates 60,000 e-scooters in more than 80 cities across 10 countries. The latest funding takes its valuation to just under $1bn unicorn status, the Financial Times reported, [...]
Mr Kipling owner Premier Foods raises outlook as lockdown feeds demand November 10, 2020 Premier Food has raised its full-year profit outlook, saying it expects a higher demand for its brands – which include Mr Kipling, Bisto, and Oxo – due to fresh lockdown restrictions on eating out. The group reported a 35.5 per cent increase in pre-tax profit to £50.5m for the six months to 26 September, as [...]
Direct Line premiums stabilise as insurance market climbs back November 10, 2020 Direct Line today posted flat trading for the third quarter as shopping habits began to recover after a decline sparked by the coronavirus outbreak. The insurance group said its total written premiums slipped a marginal 0.8 per cent to £851.5m in the three months to the end of September. The performance was primarily driven by [...]
FRC: Auditors must challenge management view of firm implications of climate change November 10, 2020 Audit watchdog the Financial Reporting Council (FRC) has said auditors should test and challenge board and management’s assessment of the implications of climate change outlined in financial statements. Following a major review of how companies and auditors report on the impact of climate change, the FRC determined that boards and companies, auditors, professional associations, regulators [...]
House of Lords defeats Boris Johnson’s controversial Brexit bill November 10, 2020 The House of Lords has rejected Boris Johnson’s controversial Brexit bill that could potentially breach the Brexit Withdrawal Agreement and break international law. Peers voted to remove two clauses from the Internal Market Bill, which deal with the status of Northern Ireland after the Brexit transition period ends on 31 December. The legislation will now [...]
Auto industry pleas for zero-tariff deal as Brexit prep bill passes £735 million November 10, 2020 The UK auto industry has issued a last-chance plea for a zero-tariff, zero-quota trade deal, as the UK-EU free trade talks enter the final stretch. The plea comes as a survey from the Society of Motor Manufacturers and Traders (SMMT) has revealed the cost to the sector for preparing for Brexit has surpassed £735 million [...]
