Shakespeare: Just Eat could deliver on promise thanks to Covid-19 August 26, 2020 Many assumed that food delivery companies would actually benefit from the COVID-19 crisis, as nobody was allowed to eat in restaurants, but some of the biggest players in the market have been struggling during the pandemic. Just Eat has been an exception. The company, which acquired Grubhub in the United States this year, recently reported [...]
Lekoil shares drop as annual loss widens August 26, 2020 Oil and gas company Lekoil’s share price dropped this morning after the firm revealed that losses widened last year. The figures The company, which fell victim to fraud earlier this year, reported a $12m loss in the year ended 31 December 2019 compared to a loss of $7.8m in 2018. Total revenue for the year [...]
CVC and Advent team up in €1.3bn bid for Italy’s Serie A August 26, 2020 Private equity firms CVC Capital Partners and Advent International have reportedly joined forces in a €1.3bn (£1.17bn) offer for a minority stake in Italy’s Serie A football league. Last month Lega Serie A, the governing body of the league, placed a cap of 15 per cent on any potential private equity investment. CVC and Advent [...]
A dam site better: Craft brewer Beavertown builds new London brewery August 26, 2020 Craft brewer Beavertown is moving production from its Tottenham home, with its new brewery in Enfield allowing it to make enough beer for 90m pints. The expansion to the six-acre plot in Ponders End will lead to 150 new jobs in north london over three years, the craft brewer said. Beavertown, the maker of Gamma [...]
New Look launches restructuring plan to slash rents August 26, 2020 High street retailer New Look has asked landlords to change the way it pays rent on most of its stores in a bid to secure a £40m cash injection. The fashion chain launched a company voluntary arrangement (CVA), which involves resetting 402 stores to turnover rent to align rent payments with future performance. The turnover [...]
What does value investing have in common with Forrest Gump? August 26, 2020 Gump is rewarded for his determination and resilience in the face of vicious storms in the 1994 film “Forrest Gump”. We believe returns could be bountiful for the genuinely long-term and patient value investor too. When I look at a chart like this, I think one of two things. Either it’s different this time for [...]
Germany extends job-support scheme – contrasting with UK’s approach August 26, 2020 Germany has extended its job-support programme that subsidises workers’ wages at coronavirus-hit firms until the end of 2021 in a bid to support its economy. The move contrasts sharply with the UK’s approach. British chancellor Rishi Sunak has pledged to end the country’s “furlough” scheme in October. Germany’s scheme, known as “short-time work” or “Kurzarbeit”, [...]
No plans to return to the office for millions of workers August 26, 2020 There are no plans for millions of public and private sector workers to return to the office. A survey of 50 large employers by the BBC found none of them had plans to return all staff to the office full-time in the near future. Twenty firms have reopened their offices for staff unable to work [...]
Provident Financial swings to a loss and scraps interim dividend August 26, 2020 Subprime lender Provident Financial has swung to a first-half loss and scrapped its dividend, as its revenues slipped amid the coronavirus pandemic. The figures Doorstep lender Provident Financial reported a £28m pre-tax loss in the six months to the end of June, compared to a £43.1m profit in the same period a year earlier. On [...]
