Lloyds banking group lifts forecasts as UK economic outlook brightens July 29, 2021 Lloyds banking group has lifted its forecast for the year after the UK’s economic outlook has brightened in the past six months amid its vaccine rollout. Statutory profit before tax hit £3.9bn in the six months to 30 June, a ‘significant’ increase from the first half of 2020. The banking group has confirmed it bought [...]
A path to Britcoin: a UK digital currency isn’t just about the money, it’s a public service July 29, 2021 Innovations in central banking rarely attract attention. But, from the Bank Charter Act of 1848, which set in motion the Bank of England’s monopoly on printing money, through to its operational independence in 1997, the central bank has reinvented itself time and again to strengthen public trust in the pound. Now, a wave of technological [...]
Virgin Media O2 to upgrade UK broadband network to full-fibre by 2028 July 29, 2021 Virgin Media O2 today unveiled plans to upgrade its UK broadband network to full-fibre by 2028 as it ramped up the pressure on telecoms rival BT. The company, which launched last month following the £31bn merger between Virgin Media and O2, said its project will cover 14.3m premises across the country, including 1.3m homes already [...]
National Express back in black as savings take effect July 29, 2021 Transport operator National Express said that cost reductions had helped it return to the black in the first half of 2021 despite continuing Covid-19 restrictions. Although revenue was slightly down on last year, the FTSE 250 firm said that underlying operating profit came in at £22.9m for the period, up from a £30.6m loss in [...]
How to celebrate ‘Black Tot Day’ with a special rum July 29, 2021 You can either celebrate or mourn 31 July, see it as a day of thanksgiving or a day of grieving. This Saturday marks the 51st anniversary of what some have called “a barbaric act by government”: it is the anniversary of the last rum ration given to Royal Navy sailors serving on British ships. However [...]
Uber shares slide as SoftBank look to soften blow of Didi NYSE chaos July 29, 2021 Uber shares have fallen after reports that technology investment firm SoftBank is selling a third of its stake in the ride-hailing app. SoftBank is thought to be planning to offload up to 45 million shares, at an overall value of around $2bn. The Japanese investment group bet big on Didi ahead of its New York [...]
Trading platform CMC sees customer base grow after record surge last year July 29, 2021 Online trading platform CMC has forecast its net operating income to exceed £330m for its upcoming full-year results after client numbers have lifted in the past few weeks. Monthly active clients were up around a third from pre-pandemic levels in the weeks to 30 June 2021 but remain at similar levels as reported in its [...]
Green with envy: companies around the world have pledged to go net zero without a plan to get there July 29, 2021 There has been an avalanche of commitments to reduce emissions, from private companies to governments around the world. More than 20 per cent of the world’s largest corporations have set net zero targets and most major economies have committed to achieving net zero by the mid century. Yet, with the existing policies, we are currently [...]
One in six small business owners will not be taking any holidays this year July 29, 2021 Covid-19 travel restrictions are putting off small business owners from vacationing this year. After a tough year, small business owners are reluctant to take time off from work to travel abroad. One in six don’t plan to take any holiday, while almost a quarter of sole traders plan to keep working without leave for the [...]
Coronavirus and the impact on UK insolvencies July 29, 2021 We’ve spoken to insolvency expert, David McGinness, Insolvency Practitioner at French Duncan Restructuring & Debt Advisory, on how the coronavirus pandemic has impacted businesses across UK and what the future holds for them. David McGinness has more than 15 years experience in all types of personal and corporate insolvency. Through the course of his insolvency [...]
