Michael Gove annonuces £700m Brexit border force July 12, 2020 The government will spend £700m preparing the UK’s borders for Brexit as it begins a widespread information campaign to prepare businesses for next year. The funding is being spent on 500 new border guards, IT systems and essential infrastructure at Dover and other ports of entry as the UK prepares for the end of the [...]
Virgin Atlantic set to announce £1bn rescue deal July 12, 2020 Virgin Atlantic is reportedly finalising a £1bn rescue deal that would save thousands of aviation jobs in the UK. The airline, founded by Richard Branson, is finalising a deal to release tens of millions of pounds in credit-card cash that was being withheld. Sky News last night reported that Virgin was trying to resolve a [...]
Primark set to reject Treasury’s furlough bonus payment July 12, 2020 Primark will reportedly reject a £30m bonus handout unveiled in the Chancellor’s summer statement. The retailer has said it will not claim the £1,000 payment for every worker it brings back from furlough, according to the Sunday Times. Last night gambling firm William Hill also reportedly indicated it would also reject the furlough bonuses worth [...]
Michael Gove: Face coverings will not be mandatory in shops July 12, 2020 Face coverings will not be made mandatory inside shops by the government but it is “basic good manners” to wear one, according to Cabinet Office minister Michael Gove. Gove said today that he trusted “people’s good sense” to wear face coverings where necessary, without forcing people to do it by law. Pressure has begun to [...]
Private equity firms eye listed companies as economy starts to reopen July 11, 2020 The coronavirus pandemic has left a number of UK-listed companies scrambling for cash, with private equity firms tempted to swoop as the crisis develops. PE firms are eyeing opportunities as they move to deploy more of their dry powder into public entities as the economy starts to reopen in the wake of the coronavirus crisis. [...]
Pub-goers opt for pints on first weekend back but sales still fall short July 10, 2020 Consumers returning to pubs and bars last weekend seemed to be thirsting for their first pint of beer as lockdown restrictions eased in England, but sales still fell short. Beer sales held up best over the weekend of 4 and 5 July, according to data firm CGA’s new Drinks Recovery Tracker. However they were [...]
Standard Life Aberdeen offloads Boohoo stock over Leicester factory scandal July 10, 2020 Investment giant Standard Life Aberdeen has dumped its entire stake in fast fashion firm Boohoo after the retailer was caught up in a scandal over low pay and poor conditions for factory workers. Boohoo launched an independent review of its UK supply chain following allegations of poor working practices and underpayment of workers at a [...]
The Gym Group loses a fifth of its members as it prepares to reopen July 10, 2020 The Gym Group lost one in five of its members since lockdown started, it said today, as it gets ready to reopen most of its gyms on 25 July. The hit to its numbers came despite the group freezing all membership payments during lockdown. It has around 692,000 remaining customers. The low-cost gym firm said [...]
Amazon-backed Tesla rival Rivian picks up $2.5bn in single round July 10, 2020 Rivian, an electric truck-making startup backed by Amazon and Ford, has raised $2.5bn in a fresh funding round led by T. Rowe Price. The new round takes the total investment in Rivian to at least $6bn, including a $1.3bn round in December also led by T. Rowe Price. Rivian’s latest funding round was supported by [...]
FTSE 100 climbs but Wall Street flat as US coronavirus cases jump July 10, 2020 The FTSE 100 rose but Wall Street was mixed as investors weighed a record daily rise in new coronavirus cases in the US against the reopening of economies. The UK’s main stock index was 0.6 per cent higher in afternoon trading at 6,083 points. The FTSE 250 index of slightly smaller jumped 1.2 per cent. [...]
