Mexico headed for travel red list but India turns amber as hotel quarantine rises to £3,700 per couple August 5, 2021 Any couples travelling in Mexico will now see their holiday get whole lot more expensive: The tourist hotspot will move to the UK’s travel red list from 4am Sunday, meaning any Brits arriving back in England must pay for a 10-day hotel quarantine which will rise to £3,700 per couple. The UK Government announced the [...]
Daily Mail owner to sell insurance business for £1.4bn, clearing the way for take-private bid August 5, 2021 Daily Mail owner DMGT has today confirmed that it will sell its risk insurance business RMS to Moody’s for £1.4bn, the first step in a bid to take the group private. Last month it was revealed that the Rothermere family was considering a bid for a slimmed-down version of DMGT. An £810m offer is contingent [...]
Johnson and Sunak call for investment ‘big bang’ in UK to aid recovery August 5, 2021 The prime minister and the chancellor have called on the UK’s institutional investors to plough more capital into UK assets to ignite an “investment big bang” that drives an economic recovery from the pandemic. In a joint letter with Rishi Sunak, Johnson said the UK’s institutional investors should “seize the moment” and use their “hundreds [...]
Mike Ashley: Will the headline-grabbing Sports Direct boss go quietly? August 5, 2021 Frasers Group boss Mike Ashley is to relinquish his position as chief executive of the retail group after decades in the spotlight but there are suggestions the billionaire will continue to call the shots. The Sports Direct founder will hand over the reins next year to his daughter’s fiancé, Michael Murray, the group confirmed in [...]
Amazon tries to cut waste after backlash from ITV investigation August 5, 2021 E-commerce giant Amazon is to reduce rubbish with two new policies following an ITV News investigation which found the company destroying millions of items of unsold stock. The largest online retailer came under fire two months ago after ITV released footage of an Amazon warehouse in Dunfermline, Scotland destroyed everything from laptops and TV’s to [...]
WPP raises forecast, following further revenue growth August 5, 2021 WPP today reported continuing strong results for the first half of the year, in a sign of optimism for the global marketing industry. The London-listed ad giant reported revenue growth of 9.8 per cent and new net business worth almost $3bn in the first six months of the year as more customers return to investing [...]
Sadiq Khan wants to make not wearing a mask on Tube a criminal offence August 5, 2021 Refusing to wear a face mask on the Tube should be made into a criminal offence, Sadiq Khan has said. The mayor of London wants the government to introduce a new bye-law that would enshrine face mask wearing on Transport for London (TfL) in law. Wearing a face mask in enclosed spaces is no longer [...]
China tech crackdown: From Jack Ma’s disappearance to online tutoring debacle August 5, 2021 Chinese technology giants once seemed untouchable, with billions of profits through aggressive expansion. But that status is now more uncertain after a year of Beijing’s sweeping regulatory crackdowns that have spread like wildfire across sectors. The saga started last October when Chinese billionaire Jack Ma, who founded e-commerce behemoth Alibaba, criticised China for lacking a [...]
India’s financial crime watchdog looks to fine e-commerce giant Flipkart $1.3bn August 5, 2021 India’s financial crime watchdog is looking to fine Walmart-backed e-commerce giant Flipkart $1.35bn over claimed foreign investment violations, according to reports. The Enforcement Directorate agency has been investigating retail heavyweights like Flipkart and Amazon for allegedly bypassing laws that regulate multi-brand retail and restrict them to operating a marketplace for sellers, Reuters first reported citing [...]
City watchdog intensifies crackdown on high-risk products August 5, 2021 The City watchdog has intensified its crackdown on high-risk financial products being used to exploit retail investors, it announced today. The Financial Conduct Authority has stopped a Cypriot-based firm, BDSwiss Group, from offering high-risk contracts for differences to UK investors. Read more: City watchdog launches money laundering probe into Monzo Sarah Pritchard, executive director, markets [...]
