Selfridges to cut 450 jobs due to coronavirus pandemic July 28, 2020 Luxury department store Selfridges announced this morning it will make around 450 people redundant as the coronavirus crisis claims more UK high street jobs. The retailer said it will reduce its overall headcount by 14 per cent as sales this year are forecast to be “significantly less” than 2019. The retailer will focus on strengthening [...]
London estate agent Foxtons reports widening losses after coronavirus lockdown July 28, 2020 London estate agent Foxtons this morning said it was confident in the capital’s “resilient” housing market, despite reporting widening losses for the first half of the year due to coronavirus restrictions. The figures In the half year to 30 June group revenue fell 22.2 per cent to £40.4m as the housing market was brought to [...]
The good, the bad and the ugly of the cryptocurrency dream July 28, 2020 Way back in 2014, I debated the merits of bitcoin with cryptocurrency evangelist Andreas Antonopoulos. It was a wonderful, civil and not too disobedient dialogue. I was sceptical, not cynical. Six years later, I remain sceptical but now have a cynical bias. Let me explain what I see as the good, the bad and the [...]
Moneysupermarket’s profit drops as coronavirus hits core markets July 28, 2020 Moneysupermarket reported a drop in interim profit and revenue as its core markets took a hit from the pandemic. The price comparison site said the “exceptional market conditions” had led to its drop in revenue with a “mixed outcome” across its verticals The figures Revenue grew two per cent in the first quarter but the [...]
Bank of England could extend bank dividends suspension July 28, 2020 The Bank of England will weigh up whether its request that banks do not pay out dividends or buy back their own shares should be extended beyond the end of the year, it said today. It came as the European Central Bank (ECB) extended its recommendation that banks do not pay dividends until January 2021. [...]
Top 5 Reasons why Cryptocurrencies are a waste of time July 28, 2020 Cryptocurrencies. Bitcoin has been around since 2009 and Ethereum since 2015. And there are thousands of other cryptocurrencies – or cryptos for short. Many of them died during the alt-coin apocalypse. Others have managed to hodl on and barely keep themselves afloat. Not every digital token is a cryptocurrency. Some are security tokens – typically [...]
The next wave of innovation? It’s here. July 28, 2020 “How did you go bankrupt?” Bill asked. “Two ways,” Mike said. “Gradually and then suddenly.” ~Ernest Hemingway I’m sure many of you are familiar with Hemingway’s oft mis-attributed quote about financial calamity. I believe it also applies to change, particularly in technology, which tends to happen very slowly, and then all at once – at [...]
How Blitzscaling can strengthen your business during the global health crisis July 28, 2020 In today’s volatile business environment, market share is up for grabs, the talent pool is wider than ever, and blitzscaling might just give you the edge over your competition. Let’s face it: Growing a business is challenging even in the best of times. Growing rapidly adds a whole new set of challenges. So what happens [...]
St James’ Place reports increase in net inflows despite pandemic July 28, 2020 Wealth manager St James’ Place beat estimates and reported a modest rise in net inflows due to a recovery in market sentiment following the coronavirus-induced selloff. The figures Net cash inflows rose two per cent to £4.5bn in the six months to the end of June, beating the consensus expectation of £4.4bn, the same as [...]
