M&G Investments has eyes on UK Mortgages July 20, 2020 M&G Investment Management is pursuing a bid for UK Mortgages on behalf of one of its managed funds, M&G Specialty Finance Fund. M&G said it had made several approaches to the listed UK Mortgages on behalf of the fund. It said all of the proposals, including the latest one at 67p per share valuing the [...]
Retail footfall growth slows after Super Saturday rush July 20, 2020 Retail footfall growth slowed last week following the initial rush to high streets when pubs and restaurants reopened. Footfall across all UK retail destinations rose by 4.5 per cent last week from the week before, less than half the rise of the 10.6 per cent jump recorded the previous week. The number of high street [...]
Keep shopping like you did during lockdown July 20, 2020 No, not stockpiling. Nobody wants more stockpiling. But in other ways, lockdown has changed how we shop for the better — and there are valuable lessons we should all learn from this period of disruption. Over the years we’ve grown accustomed to easy access to a huge variety of food. We’re not typically too concerned [...]
Marks & Spencer cuts 950 jobs as pandemic accelerates transformation plan July 20, 2020 Marks & Spencer (M&S) announced this morning that it will cut 950 jobs as it accelerates its transformation plan during the coronavirus pandemic. The retailer announced today that it will create a new retail management structure, which will affect 950 roles across central support functions and property and store management, in the latest blow for [...]
Ant Financial to float in dual Shanghai-Hong Kong listing July 20, 2020 Alibaba’s payments arm Ant Financial has started the process of a concurrent initial public offering in Shanghai and Hong Kong. The world’s most valuable tech unicorn said it would list its shares on both the Shanghai’s Nasdaq-style Star Market and the Hong Kong stock exchange. In a statement Ant Financial, which provides the digital payment [...]
The road towards a greener, cleaner Square Mile July 20, 2020 As the UK starts to rebuild its economy in the wake of the Covid-19 crisis, it is crucial that the plan is developed with tackling climate change at its heart. We need to shape a greener, fairer and more resilient City. And we want the whole Square Mile to play its part. That’s why last [...]
FTSE 100 falls as rising coronavirus cases dent optimism July 20, 2020 The FTSE 100 slipped in morning trading as investors weighed rising coronavirus cases in the US and Hong Kong against hopes that a vaccine may soon be found. London’s main stock index dropped 0.7 per cent to 6,246 points. The FTSE 250 index of slightly smaller companies fell 0.2 per cent. Germany’s Dax rose 0.4 [...]
Carlos Ghosn labels Renault ‘pathetic’ as sales tumble 35 per cent July 20, 2020 Carmaker Renault revealed that worldwide sales of its vehicles had fallen 34.9 per cent in the first half after disgraced boss Carlos Ghosn labelled the recent performance of the Renault-Nissan partnership as “pathetic”. The French auto giant said that the fall in sales was due to its “high exposure to countries that have undergone a [...]
Airlines call on Rishi Sunak to waive passenger tax for 12 months July 20, 2020 The UK’s airlines have renewed calls for a 12-month waiver from paying Air Passenger Duty (APD) in a bid to protect the industry from damage from the coronavirus crisis. A new survey from industry body Airlines UK has found that without such a waiver, 600 air routes will be lost in the short-term, as well [...]
Financial pressure on UK households eases but pessimism sets in July 20, 2020 Britons’ views of their financial situation continued to improve in July after deteriorating at a record pace in April, figures have shown, but households became more pessimistic about the future. IHS Markit’s household finance index rose to 41.5 in July from 40.7 in June. That was above the long-term average but still lower than the [...]
