British Gas owner Centrica to sell US business for £3bn July 24, 2020 Centrica has today announced that it will sell US subsidiary Direct Energy for £2.8bn as it attempts to restructure after a brutal couple of years for the British Gas owner. Shares in the firm rose 24.3 per cent on the back of the news. The move comes as the former FTSE blue chip attempts to [...]
UK retail sales surge close to pre-lockdown levels in June recovery July 24, 2020 UK retail sales almost recovered in June from their staggering drops during Britain’s coronavirus lockdowns, official data showed today. The volume of retail sales jumped 13.9 per cent from May to June as shops and non-essential stores opened their doors to customers once again following a lockdown that started on 23 March. Non-food store sales [...]
Pearson swings to a loss as pandemic forces schools to close July 24, 2020 Education publisher Pearson swung to a first-half loss as the coronavirus pandemic closed schools and test centres, but said it is on track to recover in the second half of the year. Pearson, which has withdrawn guidance for the year, said underlying sales had fallen 17 per cent in the first half of the year [...]
Two Londoners clean up after flipping their business into sanitiser bays July 24, 2020 Two twenty-something Londoners are set to clean up after pivoting their mobile charging units firm into a hand sanitiser supplier. Hugo Tilmouth and Charlie Baron were set to launch ChargedUp, a network of mobile phone charging units which would sit in public places across the capital. But as Covid-19 hit, the firm – backed by [...]
Asian shares retreat as US-China tensions sour July 24, 2020 Asian shares sunk overnight from six-month highs as tensions between the US and China worsened, following the closure of the US consulate in Chengdu. China announced the closure of the US consulate in Chengdu, just days after Washington told Beijing to close its Houston consulate. Beijing said it notified the US embassy in Beijing and [...]
The Friday Interview: London Cocktail Week back for 2020 July 24, 2020 It’s been a grim few months for the bar industry, but there’s good news on the horizon: London Cocktail Week will be back in October, with a focus on driving revenues into the hands of the watering holes that need them most. In the latest in his Friday Interview series, shining a light on the [...]
Where is the no-deal planning we need to extract a deal from the EU? July 24, 2020 The UK ended its fifth round of negotiations this week, and still there has been no agreement on the principles of a future trading deal — let alone an actual deal. This was all too predictable. The EU is seeking a deal founded in ideology, and the UK simply wants to trade. Back in January, [...]
After a year in the job, Boris Johnson is a disappointment to even his biggest fans July 24, 2020 On the Institute of Economic Affairs’ Live With Littlewood show this week, I was asked to score Boris Johnson’s first year as Tory leader. I am accustomed to being the token left-winger (relatively speaking) on the IEA’s show, which tends to feature economists and journalists who identify firmly on the Conservative right. I was therefore [...]
DEBATE: Should Brits embrace the joys of the domestic staycation this summer? July 24, 2020 Should Brits embrace the joys of the domestic staycation this summer? Victoria Mackarness, senior account manager at CMS Strategic, says YES. The UK is lucky to boast an abundance of incredible holiday destinations with something to appeal to everyone. From the Highlands of Scotland to the beaches of St Ives, we are blessed with glorious [...]
