Dunelm reinstates dividend as pandemic continues to drive homeware sales February 10, 2021 Dunelm this morning announced it will reinstate its dividend as sales boomed – despite store closures in lockdown – due strong consumer demand for homewares. Total sales soared 23 per cent from £585m to £719.4m in the first half of the year and profit before tax was up 34.4 per cent from £83.6m to £112.4m. [...]
Heineken cuts 8,000 jobs in sobering company restructure February 10, 2021 Dutch brewer Heineken said it was cutting around 8,000 jobs following a review of its operations launched in October. The cuts will lead to a total restructuring charge of around €420m and savings on personnel expenses of around €350m. The brewer, which also owns brands Sol, Desperados and Amstel, has been hit hard by the [...]
Smurfit Kappa Group increases dividend payment February 10, 2021 Packaging company Smurfit Kappa Group (SKG) has increased its final dividend to eight per cent, which the company said reflected the board’s confidence about SKG’s future. The packaging company has also repaid all money it received from government support schemes relating to the pandemic. SKG saw revenue of €8.5bn in its 2020 financial year, down [...]
WPP buys Brazilian software engineering firm DTI Digital February 10, 2021 Creative transformation company WPP has acquired DTI Digital, a leading digital innovation and software engineering firm. DTI’s digital services help clients become more connected to their customers, through the development of support systems such as data collection software. The Brazilian company scales up its expert development teams in response to client needs, comprising more than [...]
Redrow profit jumps as sales boosted by demand for regional properties during pandemic February 10, 2021 UK housebuilder Redrow reported a jump in revenue and profit in the first half of the year, as shifting customer demand for bigger homes outside of London during the pandemic buoyed its regional business. Redrow this morning posted profit after tax of £141m, up from £128m in the first half of last year. The development [...]
London leaders urge government to let TfL keep £500m in vehicle duty ahead of new bailout talks February 10, 2021 The leaders of the London Assembly’s political parties have come together to urge transport secretary Grant Shapps to allow the capital to keep the £500m it raises in Vehicle Excise Duty (VED) every year. Led by Mayor Sadiq Khan, the leaders have written to the government asking that London receive its “fair share” of the [...]
Burnley and Asda are unlikely warnings of debt-driven troubles February 10, 2021 It has been a week of mixed messages. Not just on the release from lockdown, but on the economy. The Bank of England indicated that banks have been given six months to prepare for negative interest rates. The Monetary Policy Committee was quick to clarify that this did not mean that they would necessarily cut [...]
Senate votes to go ahead with Trump impeachment trial February 10, 2021 A majority of the U.S. Senate voted to hold a full impeachment trial of former President Donald Trump when they backed Democrats’ argument that the proceeding is allowed under the U.S. Constitution. Trump’s lawyers argued that as a former president, the Senate has no legal standing for holding a trial on the House of Representatives’ impeachment charge [...]
The City and Zurich can set a positive tone for free market competition February 10, 2021 The decision that trading firms, regardless of where they are situated, will be able to trade Swiss shares on UK exchanges should not just be seen as a political football, On the contrary, this agreement should be a symbol of a return to a more competitive market. Whilst rules such as MiFID II have sought [...]
Shakespeare: Paperchase look set for a stronger 2021 February 10, 2021 Stationary retailer Paperchase has struggled throughout the pandemic, and was at the brink of administration at the start of this year. The chain has now been rescued in a deal which will save 1,000 jobs and 90 of its 125 stores. A Paperchase spokesperson said the coronavirus crisis and the closure of non-essential retail had [...]
