Google employees could face pay cuts under remote working scheme August 10, 2021 Google employees could experience pay cuts if they choose to work remotely on a permanent basis, with those who commute hit hardest. In June, Google gave US employees access to a new Work Location Tool which allows them to see how moving would impact pay as part of plans to pay remote workers based on [...]
Housebuilder Bellway revenue nears pre-pandemic level August 10, 2021 Housebuilder Bellway has reported revenue nearing pre-pandemic level in its latest trading update. Revenue was just 2.5 per cent below the 2019 level thanks to underlying demand, the firm said in an update for the year ended 31 July 2021. Housing revenue rose by 41 per cent to over £3.1bn compared to £2,204.4m in 2020 [...]
UK fintechs shatter records and attract $24.5bn investment in first half of the year August 10, 2021 Investment in UK fintech has reached an all-time high, as firms in the industry attracted a staggering $24.5bn in the first half of the year across the highest volume of deals on record. British fintech investment across private equity (PE), venture capital (VC) and M&A deals has exploded as the country emerges from the pandemic, [...]
Fresh UK SPAC regime comes into force today August 10, 2021 The City watchdog’s new regime overseeing special purpose acquisition companies, or SPACs, in the UK comes into force today. Under the new rules implemented by the Financial Conduct Authority, investors will be able to dispose of holdings in a SPAC before an acquisition is completed. Previously, trading in SPACs was suspended as soon as the [...]
Strategic asset allocation or how I learned to stop worrying and love dispersion August 10, 2021 For decades, strategic asset allocation has been considered the driving force behind investment portfolio returns. But the old adage that allocation determines 90 per cent of performance is rapidly becoming outdated. During 2020 and 2021, we have seen how the world of investing is shifting from one in which declining interest rates drive beta performance [...]
Used car sales double as chip shortages deplete new model stocks August 10, 2021 The number of used cars changing hands doubled in the second quarter as stock shortages forced some people to turn to second hand models. According to the Society of Motor Manufacturers and Traders (SMMT), 2,167,504 used models were bought in the last period, up 108 per cent on 2020. The number sold was also up [...]
Derwent London snaps up Bloomsbury buildings as return to office builds August 10, 2021 Property giant Derwent London has announced the acquisition of five buildings around Bloomsbury and Marylebone as demand for new office space starts to rebound. Derwent London exchanged contracts for two properties totalling 182,100 sq ft located in the so-called knowledge quarter around University College London for £214.6m. The freehold office building at 250 Euston Road [...]
Oil prices rebound after nursing heavy losses August 10, 2021 Oil prices recovered ground this morning after suffering sharp losses yesterday amid concerns surging Covid cases in China will hit global oil demand. Global benchmarks WTI and Brent Crude added 1.31 per cent and 1.04 per cent to reach $67.35 and £69.76 respectively. Yesterday, oil prices shed over four per cent at the height of [...]
Delivery Hero to expand in Germany after Deliveroo investment August 10, 2021 Berlin-based company Delivery Hero has announced that it is to rollout its food and grocery delivery services in more German cities this autumn. The move comes after it announced buying a 5.9 per cent stake in rival delivery company Deliveroo. Delivery Hero was originally founded in Berlin a decade ago, but three years ago ceased [...]
Britain 2030: Can the tech success story continue? August 10, 2021 As the pandemic continues to wreak havoc across the UK economy, one plucky industry has continued its upward march unabashed. In an understated but significant milestone last month, the British tech sector welcomed its 100th unicorn — a private company valued at $1bn or more — becoming the first country in Europe to do so. [...]
