Asos to create 2,000 jobs with new UK warehouse January 8, 2021 Online fashion giant Asos has pledged to create 2,000 new jobs via a £90m new warehouse in Staffordshire, the company announced this morning. The new 437,000 square ft site in Lichfield “will serve Asos’ growing number of customers in the UK and around the world”, the retailer said in a statement. Asos has seen sales soar [...]
High street suffers worst December retail sales on record as online growth slumps January 8, 2021 December retail sales were negative for the first time on record in 2020, with online purchases slumping to the lowest level since the pandemic began, in the latest blow to the beleaguered UK high street. Online sales were at their lowest level since March, increasing by 62 per cent on the previous year, and were [...]
FTSE 100 stutters after touching 6,900 but Wall Street pushes on January 7, 2021 The FTSE 100 stuttered today after touching 6,900 points this morning in yet another fast open to trading, but US markets traded higher again. London’s premier index rose 0.8 per cent at the open to stand at 6,903 points, its highest level since before the pandemic. However, traders soon slammed on the breaks, with the [...]
Debenhams shuts Irish website as Brexit ‘rule of origin’ clause leaves businesses blindsided January 7, 2021 Debenhams has shut its online business in Ireland as it is unable to send orders to the Republic of Ireland due to new Brexit trade rules. The business, which is in administration, said the website was “temporarily closed” but gave no details on if and when it would be back online. The website apologised to [...]
Ryanair cuts traffic forecasts again as carrier slams ‘brutal lockdowns’ January 7, 2021 Ryanair has cut its traffic forecast for the full financial year to 26m-30m passengers, just a fifth of last year’s number, amid the new coronavirus lockdowns. The Irish carrier said that due to new restrictions in the UK, Ireland, and parts of the EU, it would reduce flights from 21 January. Few, if any, flights [...]
Scandinavian fund EQT join race for First Group’s US businesses January 7, 2021 A Scandinavian fund has joined the bidding for transport operator First Group’s US assets, which are valued at £2.5bn. Sky News reported that EQT Infrastructure made a $3.7bn bid for the First Transit and First Student in the days leading up to Christmas. The fund, which is run by one of Scandinavia’s most powerful equity [...]
Sainsbury’s bags Christmas sales rise after online shopping boost January 7, 2021 Sainsbury’s today posted a strong rise in sales over Christmas as a record number of customers bought their shopping online. The supermarket chain said like-for-like sales were up 9.1 per cent during the festive period, despite people holding smaller gatherings due to lockdown measures. The company said it sold smaller turkeys and more beef and [...]
Discounter B&M sees impressive revenue growth amid Covid crisis January 7, 2021 Discount retailer B&M said this morning that it had seen impressive revenue growth in the third quarter despite the coronavirus pandemic. Group revenue increased 22.5 per cent to £1.4bn, up from £1.1bn in the same period last year. The firm said that the combination of its low prices and out-of-town stores had proved attractive to [...]
Before the Bell: Bulls in control, calm restored to Capitol Hill January 7, 2021 The disturbance at Capitol Hill derailed the process of certifying the Biden electoral victory for a number of hours last night but was then resumed so the final confirmation of Biden’s win should be relatively straightforward. Moreover, the FTSE 100 had a stellar run yesterday as it closed up more than 3 per cent and [...]
Footballers warned by own union to stick to lockdown rules following spate of high-profile breaches at top clubs January 6, 2021 Footballers’ union the PFA has urged players to observe lockdown rules as a matter of “vital importance” following a number of high-profile breaches. Stars from Manchester City, Tottenham and West Ham have attracted criticism for holding social gatherings over the festive period. The PFA’s warning comes as Covid-19 cases soar in the Premier League and [...]