Boohoo and Nike grilled over supply chain links to slave labour in China November 5, 2020 MPs this morning grilled fashion firms, including Boohoo and Nike, over potential supply chain links to slave labour and exploitation in China. The retailers’ sourcing and sustainability bosses were today called in to give evidence to the Business Select Committee, as part of an investigation into the extent to which the products of forced labour [...]
FCA bans three financial advisers for sex crime convictions November 5, 2020 Three former financial advisers have been banned from working in the financial services industry following sexual assault and other non-financial convictions. Russell Jameson, Mark Horsey and Frank Cochran were each convinced of crimes of a sexual nature in 2018. City regulator the Financial Conduct Authority (FCA) has now banned them from working in financial services. [...]
Alibaba gets post-pandemic revenue boost amid Ant Group float woes November 5, 2020 Chinese tech giant Alibaba has posted continued sales growth following the coronavirus lockdown, just days after Beijing slammed the brakes on Ant Group’s mammoth stock market float. The conglomerate, run by billionaire Jack Ma, posted a 30 per cent year-on-year increase in revenue to 155bn yuan (£17.9bn) in the three months to the end of [...]
Wizz Air boss predicts carrier will make full recovery within a year November 5, 2020 Wizz Air’s chief executive has said that the airline will return to pre-pandemic service levels within a year. Speaking to City A.M., Jozsef Varadi that although it would likely take the aviation sector as a whole much longer to recover, he was incredibly upbeat about the Hungarian airline’s prospects. “It’s going to take five years for [...]
Bank of England goes big with £150bn stimulus amid second lockdown November 5, 2020 The Bank of England will inject £150bn more stimulus into the UK economy to help it handle a new England-wide lockdown, and predicted that growth would go into reverse in the final three months of the year. The big increase in bond-buying – which came as the BoE left interest rates untouched at 0.1 per [...]
Take the edge off the US election with a bourbon cocktail November 5, 2020 With the Presidential election still dragging on, you could be forgiven for having somewhat frayed nerves right now. Will it be resolved with decisive-enough wins in the outstanding states? Will it end up in the courts? Will it lead to the death of democracy and civil conflict? As if 2020 was already stressful enough, without [...]
Switch it up: Nintendo profit triples on lockdown gaming boom November 5, 2020 Nintendo’s profit tripled in the six months to the end of September as consumers splashed out on gaming during the coronavirus lockdown. The Japanese tech giant posted a first-half operating profit of 291.4bn yen (£2.1bn), up from 94bn yen in the same period last year. Nintendo has enjoyed booming demand for its Switch consoles, with [...]
BT threatened with strike action over job cuts and pay November 5, 2020 BT could be facing its first major strike action in more than 15 years after union members accused the company of “putting profit before people”. The Communication Workers Union (CWU) today asked members to vote on whether to hold a strike ballot at the company over an “increasingly aggressive” approach by management across BT, Openreach [...]
Covid19: Test and trace success rate stays near record low November 5, 2020 Of the 327,203 people identified as coming into close contact with someone who had tested positive between 22 October and 28 October, 59.9% were reached and asked to self-isolate
Bank of England to ‘look into’ suspected leak of stimulus decision November 5, 2020 The Bank of England will “look into” a suspected leak of its monetary policy decision to The Sun newspaper, which correctly reported its decision to pump £150bn into the economy before the BoE officially announced the position. There is no suggestion that The Sun acted improperly in its reporting of the story, which also said [...]
