Amazon halts alcohol sales in Northern Ireland following new Brexit customs rules January 27, 2021 Online retail giant Amazon has halted sales of wines, beers and spirits in Northern Ireland as it prepares to de-list more products under new Brexit customs rules. The company is concerned that excise duty will now have to be paid twice on alcohol shipments sent from British mainland across the Irish Sea. Amazon suspended orders [...]
Shakespeare: Boohoo buys Debenhams brand to broaden its customer base January 27, 2021 Online fashion giant Boohoo has bought the Debenhams brand and website for £55 million, meaning its remaining stores will be forced to close. Boohoo already purchased the Karen Millen and Coast brands in 2019, however this is the first time the e-tailer has stepped out of the fashion category, with Debenhams enabling entry to the [...]
Are any stock markets cheap going into 2021? January 27, 2021 Where is the value in stock markets today? This is a difficult question to wrestle with. At face value, the bad news is that everywhere looks to be at nosebleed-red levels of expensiveness. Of the 25 measures in our regular stock market valuation grid below (five markets and five measures for each), 16 are more [...]
Paperchase rescue deal to save 1,000 high street jobs January 27, 2021 High street stationery retailer Paperchase is set to announce a rescue deal today that is expected to save around 1,000 jobs. Paperchase will be sold through a pre-pack administration to Permira Debt Managers – connected to its current private equity owners – which has provided funding for the business since 2015, Sky News reported. Up [...]
Fresnillo forecasts fall in gold production due to landslide January 27, 2021 Precious metals miner Fresnillo today said that gold production would fall over the coming year due to a landslip at one of its mines. The FTSE 100 company said that full year gold output for 2021 was expected to come in at 675 to 725 k/oz. This year the firm reported production of 769 k/oz, [...]
Hinkley Point C delayed by six months due to pandemic January 27, 2021 The start of electricity generation at Hinkley Point C in Somerset has been pushed back six months to June 2026, it was announced today. The project is now estimated to cost between £22bn and £23bn, more than previous estimates of £21.5bn – £22.2bn. French giant EDF, which is building the new nuclear power plant, said [...]
Brewin Dolphin total funds exceed pre-pandemic levels January 27, 2021 Fund manager Brewin Dolphin reported record total funds as market sentiment rebounded off the back of the Brexit deal and vaccine rollout. Total funds increased eight per cent to a record £54.1bn in the first quarter with total inflows of £0.6bn Net inflows stood at £0.1bn in the three months to December. It represents an [...]
City of London chief: Brexit impact ‘not at all catastrophic’ as Square Mile will thrive without EU access January 27, 2021 Brexit’s impact on London’s loss of financial business has not been catastrophic, the chief of the City of London Corporation said this morning. Catherine McGuinness, political leader of the Square Mile’s ruling body, insisted the City will thrive even if the European Union “irrationally” blocks access. London has endured business and job losses since the [...]
AstraZeneca CEO: ‘Britain will hit its vaccine targets’ January 27, 2021 CEO of AstraZeneca Pascal Soriot is confident the UK will hit its vaccine rollout targets, and has confirmed AZ will not reconsider its pre-agreed contract with the UK in the face of supply shortages in the EU. Speaking to Italian news site Repubblica, Soriot said the UK will have succeeded in vaccinating 28 to 30 [...]
3i Infrastructure holds dividend despite yearly income slump January 27, 2021 Investment firm 3i Infrastructure remains on track to meet its dividend target after it reported a resilient third quarter on Wednesday. The company secured a total income of £24m between 1 October and 31 December, a 45 per cent drop from the £44m it took home during the same period last year. It is on [...]
