‘Bond market tantrum risks’: Gilt traders brace for Labour leftward pivot as Starmer future uncertain
French Connection in talks with two potential buyers after challenging year February 5, 2021 French Connection is in discussion with two potential buyers, the company confirmed this morning. French Connection is in early stage talks with Spotlight, owned by Gordon Brothers International, and Go Global, owned by HMJ International Services. The two businesses are in separate talks, and are not acting together. The two businesses interested in French Connection [...]
Corporate collapse and pre-pack wave February 5, 2021 The pandemic has wrought massive damage to many business. A dramatic drop in trading has left many firms unable to pay their debts. The normal assumption is that this would trigger a wave of corporate failures. However, the official figures to Q3 2020 is that the number of corporate insolvencies is lower than the previous [...]
GameStop and the ethics of short sellers February 5, 2021 The global media has recently been entranced by a battle between retail traders and hedge funds over the US computer game store, GameStop. It has also shone a light on a practice that makes many people feel uneasy: “short selling”. So much so that lots of members of the Reddit community which spearheaded the attack [...]
GIP joins forces with Blackstone and Cascade in $4.7bn Signature Aviation bid February 5, 2021 The former owner of Gatwick Airport has teamed up with Blackstone and Cascade to bid for private jet firm Signature Aviation. The offer values the London-based aviation company at $4.7bn, the parties said on Friday. It emerged that Signature was up for sale in December, prompting a bidding war between several investors. Commenting on the [...]
Wall Street opens at record high on stimulus progress February 5, 2021 The S&P 500 and the Nasdaq opened at record highs on today on signs of progress towards more economic stimulus, while a closely watched jobs report confirmed the labor market was stabilising. The Dow Jones Industrial Average rose 38 points, or 0.12 per cent, at the open to 31093.81. The S&P 500 rose 6.6 points, [...]
Amazon to hire 1,000 UK apprentices as revenue surges February 5, 2021 Amazon will hire 1,000 apprentices across the UK this year as the ecommerce giant continues its rapid expansion amid a pandemic-driven trading boom. The US tech firm said the roles will cover more than two dozen different programmes ranging from engineering, safety technicians and broadcast production to IT and HR. The plan includes 100 degree-level [...]
Year of the unicorn: 24 companies have surpassed $1bn valuation this year already February 5, 2021 There has been somewhat of a stampede of companies reaching unicorn status since the start of the year following a strong year for the tech sector. Some 24 companies have already reached $1bn valuation since the start of the year with a particularly strong showing from e-commerce and fintech companies, according to research by Tipalti. [...]
Energy prices to rise for millions of households in April February 5, 2021 Ofgem has today announced that the energy price cap will return to pre-pandemic levels from April due to changes in wholesale prices. The price cap will increase by £96 to £1,138 for 11 million default tariff customers. There will be an £87 increase to £1,156 for those using payment meter. Ofgem has allowed the increases [...]
Londoners could face tougher face mask rules in transport crackdown February 5, 2021 Tube and bus passengers in London could be made to wear higher-grade face masks to help combat new mutant strains of Covid-19. Mayor Sadiq Khan and Transport for London have both launched reviews of current guidance amid concerns about the rapid spread of the so-called Kent strain across the UK. Face coverings have been mandatory [...]
Permanent staff recruitment falls sharply in January February 5, 2021 The latest national lockdown led to permanent staff hires plummeting in January, according to a UK jobs report. Research conducted by KPMG and REC shows the reduction was driven by the return of tough coronavirus measures and greater economic uncertainty. The resurgence of Covid-19 also caused growth in short-term vacancies to weaken in most sectors. [...]
