In a face off against FinTech, traditional face-to-face banks must become more bespoke than ever March 19, 2021 There’s no doubt digital banking is in demand. Last year, $4.1bn was invested into FinTech in the UK, accounting for just under half of Europe’s FinTech investment. Since lockdown began this has continued to grow, with a 72 per cent rise in the use of FinTech apps in Europe as a result of pandemic restrictions. [...]
Wetherspoons in the red as Tim Martin calls for end to lockdown ‘mayhem’ March 19, 2021 Pub giant JD Wetherspoon today reported a half-year pre-tax loss of £46.2m as Covid restrictions forced hundreds of its pubs to close through key holiday seasons. Wetherspoon’s operating loss hit £20.7m, while revenue sunk by more than 53 per cent to £431.1m Like-for-like sales were also down by almost 54 per cent for the six [...]
Hollywood real estate firm expands £350m east London film studio project March 19, 2021 Plans for a major new film studio complex in east London have been given a further boost after the scheme’s Hollywood backer announced it was pumping a further £50m into the project. Hackman Capital Partners (HCP), which owns studios where classics such as Citizen Kane and Gone With the Wind were filmed, last year took [...]
Roadmap out of lockdown sends consumer confidence to near 12-month high March 19, 2021 Roadmap out of lockdown sends consumer confidence to near 12-month high
Sadiq Khan: London’s Covid recovery must fight injustice and promote a greener capital March 19, 2021 London has faced many difficult times before, but there’s no doubt that the last year has been one of the most testing, traumatic and turbulent periods in our city’s history. In 1945, Londoners rebuilt and renewed, working together to forge a more equal society from the ruins of war. They wanted to ensure that our [...]
Nike scores revenue jump as China and online sales offset US and Europe store closures March 18, 2021 Sportswear giant Nike reported a jump in revenue in the third quarter, despite the impact of coronavirus restrictions on trading in the US and Europe, driven by soaring growth in China and online sales. The US company said this evening that reported revenues were $10.4bn in the three months ended 28 February, up three per [...]
Asda chief exec to step down following grocer’s £6.8bn sale to Issa Brothers March 18, 2021 Roger Burnley, the chief executive and president of Asda, will step down next year after the supermarket has transitioned to its new ownership, following its £6.8bn sale to the Issa Brothers and TDR Capital. A process to replace Burnley, who has held the top job at the supermarket for just over three years, is set [...]
British Airways owner IAG tops up survival bond issue to €1.2bn on increased demand March 18, 2021 British Airways owner IAG increases survival bond sale to €1.2bn on increased demand
Goldman Sachs junior staff slam bank’s ‘inhumane’ 100-hour working weeks March 18, 2021 Junior bankers at Goldman Sachs claimed they have suffered ‘inhumane’ treatment and workplace abuse, leading to a deterioration in mental health while employed by the US investment bank. A survey circulated on Twitter today that was presented to the bank last month, showed that all of the 13 respondents felt their working hours had negatively [...]
Sarbanes-Oxley-style audit reform ‘to cost business more than £430m a year’ March 18, 2021 Businesses face paying hundreds of millions of pounds more every year under plans to reform the audit sector and crack down on shoddy practices at the UK’s largest firms. More than £430m could be added to businesses costs as a result of the proposals, according to analyses carried out by the Financial Times. This morning [...]
