Euro 2020 and ‘Freedom Day’ lift consumer spending above pre-Covid levels August 10, 2021 Euro 2020, the Tokyo 2020 Olympics and “Freedom Day” provided the perfect storm to lift consumer spending above pre-Covid levels, new figures released today reveal. Data from Barclaycard shows consumer spending was 11.6 per cent higher than in the same period in 2019, before the onset of the Covid crisis. Consumers rushed to pubs to [...]
Consumer fatigue slows retail sales growth August 10, 2021 Signs of fatigue among consumers after the initial burst in spending triggered by the gradual easing of Covid restrictions are starting to emerge, according to new figures released today. Research from the British Retail Consortium and KPMG show retail sales jumped 9.8 per cent in July compared to the same period in 2019, before the [...]
Brits still using pennies and pounds to buy goods August 10, 2021 Cash is continuing to play a significant role in facilitating transactions as Brits flock to high streets after “Freedom Day”, new figures released today reveal. A record £665m was withdrawn from Post Office counters in July, the highest monthly total excluding the historically busy Christmas period ever. Personal cash withdrawals in July were up 4.6 [...]
Oops: Traffic chaos mounts after Tower Bridge gets stuck open August 9, 2021 The moving elements of Tower Bridge remain stuck in the raised position tonight, shutting down one of the main road arteries across the Thames. The Bridge was raised to allow a sailboat passage along the river, but the bridge’s bascules this afternoon became lodged in the raised position. The technical fault last occurred in August [...]
UK to relax Covid travel rules for Cop26 climate delegates August 9, 2021 The UK will relax Covid-19 travel rules for thousands of delegates attending the UN Cop26 climate summit in Glasgow in November. Cop26 officials have set out conditions for the event, which is expected to welcome up to 25,000 government delegates, journalists and campaigners from around the world for talks on curbing global warming. The summit, [...]
JPMorgan hikes pay for junior bankers in bid to fight off competitors August 9, 2021 Another American investment bank has hiked its pay for junior staff as Wall Street giants strengthen incentives across the board in a bid to attract the best talent. JPMorgan has increased pay for junior sales, trading and research analysts across its corporate and investment banking practice. The news was first reported by Bloomberg. First-year analysts [...]
Wall Street dragged down by falling airline stocks August 9, 2021 US benchmarks were dragged down by poor performances among airline stocks this morning as surging Covid cases dampens the outlook for the travel sector. The blue-chip S&P 500 dipped 0.08 per cent to 4,432 points, while the Dow Jones slid 0.24 per cent to 35,123 points. The tech-heavy Nasdaq fared better, jumping 0.19 per cent [...]
David Cameron was paid £7.2m by Greensill Capital before collapse August 9, 2021 David Cameron was paid a total of £7.2m over a number of years by failed supply chain finance firm Greensill Capital before it went bust in March. Documents, uncovered by the BBC Panorama, have revealed this included £3.3m he received after selling his Greensill share options in 2019. Cameron has said in the past that [...]
BBC headquarters ‘in lockdown’ as anti-vax protesters target broadcaster August 9, 2021 The BBC’s central London headquarters have reportedly been placed under lockdown as anti-vaccination protesters target the public service broadcaster. Earlier today the clueless mob attempted to storm Television Centre in west London, which stopped serving as the BBC’s headquarters in 2013. It is now home to studios for daytime ITV shows including Loose Women, luxury [...]
Former Woodford-led fund invests in Revolut August 9, 2021 A fund formerly headed by failed money manager Neil Woodford has invested in the UK’s most highly valued privately held tech business, Revolut. Schroder UK Public Private Trust, formerly known Woodford Patient Capital Trust, announced today it had acquired a small stake in the fintech. Read more: Watchdog warns Monzo and NatWest over banking transaction [...]
