Pandemic essentials: Hand gel, dumbbells and loungewear enjoy consumer boost March 15, 2021 Hand gel, dumbbells and men’s loungewear bottoms are among the latest post-pandemic additions to Britain’s official consumer price index this month, the Office for National Statistics (ONS) said today. Consumer habits have transformed throughout the pandemic, reflected in data from ONS which has, unsurprisingly, revealed a rise in casual clothing, home exercise equipment and travel-sized [...]
Great fire of Londoners: Capital feels more ‘burnt out’ than any other UK region March 15, 2021 In the era of ‘grind culture’, Londoners feel more ‘burnt out’ and stressed due to work pressures than people in any other region in the UK, according to research published this morning. The study by Delamere Health Cheshire said that the average person will spend one-third of their life at work, with Londoners giving the [...]
Tecent, Baidu and SoftBank fined in China for monopolistic behaviour in fintech crackdown March 12, 2021 China’s market regulator said today it has fined 12 companies $77,000 each for flouting anti-monopoly rules. Concerning ten deals in particular, companies including Tencent Holdings, Baidu Inc, Softbank and a ByteDance-backed firm, were fined for behaviour that caused market concentration, the State Administration for Market Regulation (SAMR) said. The companies’ actions did not completely exclude [...]
Analysts: UK economy ‘like a punchdrunk boxer hanging off the ropes’ March 12, 2021 UK’s GDP shrank by 2.9 per cent in January, it was announced this morning, blowing a “cold snap” through the UK economy as a third national lockdown was imposed. Analysts were torn as to whether the harsh fall is a glass of cold water to the face, or better than what was forecast. January’s figures [...]
UK says China ‘hollows out democratic debate in Hong Kong’ in latest spat March 11, 2021 Foreign secretary Dominic Raab has condemned Beijing parliament’s decision today to impose measures that will assess Hong Kong politician’s loyalty to Beijing. “This is the latest step by Beijing to hollow out the space for democratic debate in Hong Kong, contrary to the promises made by China itself,” Raab said in a statement. “This can [...]
HSBC concedes to investor pressure over climate change March 11, 2021 HSBC has given in to investor pressure by tabling plans to phase out its financing of coal power by 2040, staving off backlash over the bank not being aligned with its climate ‘ambitions’. The bankin giant said today it will retire from funding both coal-fired power and thermal coal mining across the EU by 2030, and [...]
FTSE 250 Ascential COO joins the board of cyber security firm Darktrace March 11, 2021 AI cyber security platform Darktrace has appointed Ascential’s COO to its board as a non-executive director. Paul Harrison, who formerly held the chief financial position at Just Eat, will aid the board in tackling the fast-changing challenges that the digital landscape brings. “As cyber-threats become more sophisticated and better-resourced, it is clear that the cyber [...]
Ted Baker bags licences to expand into Middle East, North Africa and Indonesia March 11, 2021 Ted Baker said this morning it has secured two 10-year long territory license deals, in a bid to grow further into the Middle East, North Africa and Indonesia. The retailer has extended its pre-existing Al-Futtaim agreement for retail, which now includes e-commerce rights in the Middle East and North Africa (MENA), after operating its retail [...]
VW strategy chief quits to pursue smart boats March 10, 2021 Volkswagen strategy chief Michael Jost is set to quit his role to pursue smart boat building with his family, a statement on his website said today. “Since 1996 I am leading a weekend marriage and family. Now corona has brought me home and we’ve realised that we can live together. I want to stay here. [...]
City Moves: Who is switching jobs in the Square Mile this week? March 10, 2021 Snakes and Ladders provides a roundup of the most important hires and job moves across the City, every Wednesday afternoon. Email citymoves@cityam.com to be featured. New strategy director joins Wates Construction Wates Construction Group has appointed a new strategy and integration director for its recently formed group of businesses Wates Integrated Construction Services (WICS). Joining the London office, [...]
