FCA approves world’s first air travel revenue hedging system January 11, 2021 The UK’s financial regulators has approved Airbus subsidiary Skytra’s Air Travel Price Indices, a key step in allowing airlines to manage revenue volatility. Through building the world’s largest air ticketing database, the firm has developed a set of regulated benchmarks based on US$ per Revenue Passenger Kilometre ($/RPK). This represents the price of air travel [...]
Chancellor Rishi Sunak: The City could be set for a post-Brexit Big Bang 2.0 January 11, 2021 Rishi Sunak believes the Square Mile is set for a post-Brexit “Big Bang 2.0” and that the City’s “culture and creativity” will see it to greater, global heights. In a candid interview with City A.M., the Chancellor also pushed back against criticism of the UK’s trade deal with the European Union, saying that it should [...]
The week ahead, 11-15 January: FTSE housebuilders, Asos, Tesco and UK GDP January 10, 2021 London’s markets started the new year in a frenzy last week, picking up over five per cent and closing the gap on their counterparts around the world. This week is set to be a busy one for the FTSE, with a raft of companies due to provide updates, as well as key economic data in [...]
Covid-19 lockdown: Government tells public to ‘act like you have the virus’ January 9, 2021 The government has instructed the public to act like they have got the coronavirus and adhere to Covid-19 lockdown rules amid fears that the NHS is struggling to cope with the influx of new cases. A new advertising campaign has been launched reinforcing the “stay at home” message, in a bid to stem the transmission [...]
Explainer: What the Brexit deal means for UK nationals and EU migration January 8, 2021 New immigration rules and pandemic travel restrictions are colliding to cause a bumpy start to 2021. Although the Brexit transition deadline has passed, individuals who are eligible can continue apply under the Withdrawal Agreement until 30 June 2021 in many cases. There is confusion in these early days and some airlines have reportedly refused boarding [...]
Moonpig plans £1bn London float after lockdown boom January 8, 2021 Digital card company Moonpig is set to be the first British unicorn to go public this year as its private equity owners plan an IPO. Moonpig, which has been owned by Exponent Private Equity for four years, is set to outline plans for a £1bn flotation within the next fortnight, first reported by Sky News. [...]
Coronavirus cases in London almost double the national average as R rate hikes to 1.4 January 8, 2021 Confirmed cases of coronavirus in London are almost double the national average, the latest official figures showed, as the capital continues to record the highest level of infection in the country. An estimated 1 in 30 Londoners were infected with coronavirus in the week after Christmas, according to data released today by the Office for [...]
M&S sales fall over Christmas quarter as lockdown hammers clothing division January 8, 2021 Marks and Spencer (M&S) saw their sales slip over the quarter leading up to Christmas as new lockdown restrictions cast a shadow over the normally lucrative season. The high street stalwart said that total sales fell 8.2 per cent to £2.5bn in the three months to 26 December. Shares in the retailer fell 1.9 per [...]
Aviation bosses demand end to quarantine after introduction of mandatory testing January 8, 2021 The aviation industry has called for the government to scrap its quarantine regime following the introduction of a mandatory testing regime. Nearly 10 months after the coronavirus pandemic began to sweep through the UK, the government has finally put in place restrictions on people entering the country. Despite consistent lobbying from the aviation industry, business [...]
Not just for Christmas: Pets at Home raises profit outlook after December growth January 8, 2021 Pets at Home has raised its full year profit guidance after recording impressive sales growth during December. The country’s leading pet care firm said that it now expected profit for the year to come in at £77m, despite the voluntary repayment of £28.9m in business rates relief. In a trading update this morning, the company [...]