US State Department issues ‘do not travel’ memo after UK Covid-19 cases surge July 20, 2021 Americans should avoid travelling to the UK, the US State Department has warned after Britain saw its Covid-19 cases soar to the highest levels since January. It follows the decision by the US Centers for Disease Control and Prevention to boost its travel warning to “Very High”. They cited the high number of cases that [...]
Government scales back isolation advice as ‘pingdemic’ hits businesses July 20, 2021 The government has toned down its guidance on whether people should self-isolate when pinged by the NHS test and trace app amid concerns about staff shortages. Speaking to Times Radio this morning, business minister Paul Scully said the app was there to allow people to make “informed decisions”, but added that isolation was “obviously up [...]
EasyJet revenues increase as airline prepares for more flights July 20, 2021 EasyJet reports increased revenues as the airline prepares to “emerge transformed post pandemic” and more people travel abroad. Their headline loss before tax was £318m, reduced from £347m last year. The no-frills airline reported a lower cash burn of £55m during the quarter ended 30 June 2021, in line with expectations. Revenue increased to £213m [...]
Wise reports solid revenue growth and surging customers in first trading update since IPO July 20, 2021 Wise, one of Britain’s biggest fintech firms, posted revenue in line with expectations of £123.5m in the first quarter of its financial year, up 43 per cent from a year earlier. In the first trading update since its £8bn float on London’s stock exchange earlier this month, the payments group said it processed £16.4bn in [...]
Bitcoin tumbles below $30k as cryptocurrency markets see major falls July 20, 2021 The world’s leading cryptocurrency has fallen below the major psychological mark of $30,000 as a market slump across the board continues to sting all major cryptocurrencies.
US drugmakers and distributors to cough up $26bn to settle opioid claims July 20, 2021 US drug distributors and drugmakers are set to cough up $26bn to settle claims they helped stoke a nationwide opioid epidemic. Drugmaker Johnson & Johnson will pay $5bn, while drug distributors McKesson Corp, Cardinal Health, AmerisourceBergen Corp will pay $21bn altogether. The news was first reported by Reuters. Read more: US bins 60m contaminated Johnson [...]
Parliamentary inquiry into Cameron Greensill saga says lobbying rules are ‘insufficient’ July 20, 2021 A parliamentary committee looking into the Greensill saga blasted ex-prime minister David Cameron for the “significant lack of judgement” he showed in his support for the failed firm. The “Lessons from Greensill Capital” report by the Commons Treasury Select Committee found that the current ministerial lobbying rules are “insufficient” and “there is a good case [...]
Young’s sees sales close in on 2019 levels despite Covid-19 restrictions July 20, 2021 Pent-up demand has seen Young’s Brewery’s pubs outperform board expectations as Covid-19 restrictions lift. Despite restrictions on capacity and the ban on indoor drinking for much of the second quarter, the company told markets this morning that sales sat at 95 per cent of 2019 levels. The pub industry has had salt poured in the [...]
Irn-Bru manufacturer A.G. Barr full year profit expected to be ahead of previous expectations July 20, 2021 Having communicated on 30 March that their business was in a strong financial state, the company has been able to kick on in the following months up to now and expects to post “better than anticipated” results. They say that this has been spurred by a number of factors, including: Covid-19 restrictions being relaxed and [...]
Study: Private equity and venture capital professionals work 56 hours a week during pandemic July 20, 2021 Working hours reportedly increased by 4 per cent on average between 2019 and 2020, according to a report by Movemeon.com and Payspective.com, shared with City A.M. this morning. Compiling 35,000 data points, the study was conducted before the second wave. It found that working hours increased by 8 per cent for private equity and venture [...]
