Japanese auto giants to ‘demand payback’ in event of no-deal Brexit October 6, 2020 Two of Japan’s auto giants will ask the UK to pay them back for any additional custom charges levelled against their cars if it fails to agree a free trade deal with the EU. The Nikkei reported that Toyota and Nissan will want payments to cover the extra 10 per cent of tax that will [...]
Yougov hikes dividend by a quarter as Covid-19 data demand drives up revenue October 6, 2020 Yougov today said it will raise its dividend by 25 per cent after strong demand for its data products and services during the coronavirus pandemic helped drive up revenue for the full year. The figures Yougov posted revenue of £152.4m in the year to the end of July, up 12 per cent on 2019. Statutory [...]
MPs probe fast fashion industry after Boohoo’s Leicester factory scandal October 6, 2020 The fast fashion industry will be scrutinised by a committee of MPs in the wake of Boohoo’s Leicester clothing factory scandal, after the government dismissed most of the recommendations of an initial inquiry in 2018. The Environmental Audit Committee (EAC) has today launched a follow-up inquiry into sustainability and working conditions within the fashion industry [...]
FCA bans sales of crypto-derivatives to retail consumers October 6, 2020 The Financial Conduct Authority has announced rules banning the sale of derivatives related to certain types of crypto-assets to retail consumers. The ban will affect the sale, marketing and distribution of any derivatives – including contracts for difference, options and futures – as well as exchange traded notes that relate to unregulated cryptoassets. Read more: [...]
Travelex owner Finablr agrees takeover offer after fraud scandal October 6, 2020 Travelex owner Finablr today said it has approved a takeover offer from software group Prism Advance Solutions in a deal that will settle the fraud-hit payment firm’s debts. The deal will see Prism acquire 100 per cent of Finablr and its subsidiaries, though the companies did not disclose the value of the transaction. The agreement [...]
Rishi Sunak signals that tax hikes will be delayed for some time October 6, 2020 Rishi Sunak has signalled he will hold off on tax rises and Budget cuts until the UK’s economic recovery is further along. Sunak said today that the UK needs to balance its books “over time”, just a day after saying at his conference speech that the Tories had a “sacred responsibility to future generations to [...]
Allianz boss warns over ‘zombie companies’ reliant on government support October 6, 2020 The chief executive of Allianz has warned there are a lot of “zombie companies” surviving only because of government support, but said that households were proving more resilient than many thought during the pandemic. “We are camouflaging for now the underlying effects, we have a lot of zombie companies now that are just surviving because [...]
Licence to kill: Will the Bond debacle be fatal for the UK’s cinema sector? October 6, 2020 It was a plot twist that would have made Ian Fleming proud. For decades James Bond has been a leading light of cinema, delivering a reliable string of blockbuster hits to line pockets in Hollywood. But overnight the suave spy has been transformed into a villain, and has left cinemas fighting for survival. The decision [...]
ECB’s Christine Lagarde: Coronavirus cases putting recovery at risk October 6, 2020 European Central Bank (ECB) president Christine Lagarde has warned that a second coronavirus wave could lead to a “shaky” economic recovery in the Eurozone, and said Covid has scarred some parts of the economy “probably for the long haul”. However, Lagarde told the Wall Street Journal in an online conversation that monetary and fiscal policy [...]
