Robert Walters: We stand to benefit from any Brexit repercussions January 12, 2021 Leading recruitment boss Robert Walters has said that despite a challenging year the firm stands to benefit from any Brexit repercussions because of its wide geographic reach. The FTSE 250 firm has offices across the world with a strong presence in Asia, where performance has improved in recent months. Its trading update published today showed [...]
Financial services M&A dips as management shifts priorities January 12, 2021 M&A in the UK’s financial services industry dropped amid the pandemic as management’s priority shifted away from deals to the preservation of cash. The UK financial services industry announced just 136 deals in 2020 down from 211 in 2019, according to exclusive EY data. Deal activity came to a near standstill at the start of [...]
Exclusive: City fund managers on the winners and losers from the Brexit deal January 12, 2021 The Christmas Eve announcement of a UK-EU trade deal promised an end to four and a half years of uncertainty and speculation. Whilst there are areas of the relationship still to be finalised, it has brought some much-needed clarity to many UK businesses, even though uncertainty for the financial services space and the City remains. [...]
European car giants count cost of dire year for auto industry January 12, 2021 European car giants this morning began to lay out of the full cost of the coronavirus pandemic on their performances in 2020. Over the course of the year, vehicle sales plummeted as factories and showrooms were shuttered around the world. French auto firm Renault said that worldwide sales fell 21.3 per cent last year as [...]
Exclusive: It takes a bot to catch a bot, says advertising chief January 12, 2021 Alongside its early challenges and uncertainty around digital ad spend, 2020 has been a big year for digital advertising as the pandemic forced businesses and consumers moved online. City A.M. spoke with Mayfair-based Nick Morley, EMEA Managing Director at online ad verification giant Integral Ad Science, which analyses the value of digital advertising placements. UK [...]
Very.co.uk enjoys record-breaking Christmas period January 12, 2021 Very.co.uk increased sales by 25 per cent year-on-year in the seven weeks leading up to Christmas, recording its best ever figures over the holiday period. Home and electrical goods were the standout categories for the online retailer, up 46 per cent and 45 per cent respectively. Among the top selling items were bedding and soft [...]
Fine wine merchant Bordeaux Index tops $125m in sales January 12, 2021 Fine wine and spirits merchant Bordeaux Index has posted sales of more than $125m (£92m) in 2020 as a recovery in trade in Asia helped offset the impact of the pandemic. The London-based company, which is the largest seller of fine wine in Asia, said a resurgence in sales in the region in the second [...]
Rishi Sunak warns UK economy will ‘get worse before it gets better’ January 11, 2021 The UK’s economy is set to “get worse before it gets better”, Rishi Sunak has today warned. The chancellor told MPs this afternoon that the country’s latest lockdown has scuppered any economic recovery from last year and that the new restrictions will “have a significant impact on the economy”. The Office for Budget Responsibility (OBR) [...]
Democrat sweep to open fiscal floodgates and boost growth January 11, 2021 Democrats have completed a sweep of Congress following the double victory in the state of Georgia’s run-off election. The disturbing scenes of protestors storming Capitol Hill last night may have soured the victory, but nonetheless the Democrat party now have control of the Senate and the House of Representatives for the first time since 2009. [...]
Jaguar Land Rover secures second straight quarter of sales growth January 11, 2021 Jaguar Land Rover closed out a brutal year for the car industry with a second successive quarter of sales growth, the luxury car brand reported today. The auto firm sold 128,469 cars in the last quarter, up 13.1 per cent from 113,569 vehicles sold in the preceding quarter. However, as a result of the pandemic, [...]