The Week Ahead: Tesco, Coinbase IPO, JD Sports, JPMorgan, Goldman Sachs April 12, 2021 Some of the biggest banks are set to report earnings this week, with JPMorgan, Wells Fargo and Goldman Sachs all due on Wednesday. On a macro level, Tuesday’s UK GDP figures and inflation data from the US are undoubtedly going to be important. Meanwhile, the largest US cryptocurrency exchange, Coinbase, goes public. City A.M. looks at [...]
Pensionbee targets £384m valuation as it gears up for London float April 12, 2021 Pensionbee is targeting a valuation of up to £384m as it prepares to list on the London Stock Exchange later this month. In a filing today the fintech firm priced its initial public offering at between 155p and 175p per share, giving a market capitalisation of between £346m and £384m. It plans to raise £55m [...]
Birmingham Bullring owner Hammerson confirms talks over £350m sale of UK retail parks April 12, 2021 Property giant Hammerson has confirmed that it is in talks over a deal to sell its portfolio of UK retail parks. It comes a day after reports the Birmingham Bullring owner was set to sell its seven sites for around £350m to Canadian private equity firm Brookfield. Hammerson told investors this morning that it is [...]
FTSE falls as England starts to reopen April 12, 2021 London’s main market fell 0.4 per cent this morning despite positive sentiment about England starting to open up following the coronavirus lockdown. The FTSE 100 was down 0.4 per cent while the FTSE 250 fared slightly better, down a more moderate 0.2 per cent. For most, today marks the first day of 2021 that non-essential [...]
This week: Tesco set to report higher sales following pandemic boost April 12, 2021 Tesco is expected to post rising sales this week as its supermarkets stayed open throughout the pandemic. The UK’s biggest grocer may also reveal more muted profits in its update for investors on Wednesday, however, as they are forecast to be broadly in line with last year’s profits. Analysts have predicted that the supermarket, which [...]
Senior staff to quit Asda after Walmart’s share payout April 12, 2021 Senior staff at Asda are preparing to stage an exodus after receiving final payouts from a share scheme run by the supermarket’s owner Walmart. Industry sources said that they had been contacted by Asda executives looking to leave, according to the Times. One source said that the level of inquiries was much higher than normal [...]
Optimism over reopening of pubs and shops tempered by concerns over next month’s elections April 12, 2021 In a week that saw the FTSE100 close at its best levels in over a year, optimism over this week’s economic reopening of outdoor pubs, shops, gyms and hairdressers, appears to be being tempered by concerns over next month’s local and regional elections. There is particular focus on how well the SNP might do in [...]
Pub time: What Londoners and people across the UK can and cannot do from today April 12, 2021 Londoners can look forward to getting a round in for the first time in months today. Pub gardens and restaurants with outdoor dining are preparing for a surge of customers as lockdown eases, prompting Boris Johnson to urge the nation to “behave responsibly”. While the English are the only ones looking forward to a pub-pulled [...]
We must help the small businesses in the Square Mile get back on their feet April 12, 2021 From today, many businesses that are so essential to the energy and vibrancy of the Square Mile will be able to reopen their doors and welcome back customers. This is a much-needed return to a semblance of normality after a long and difficult winter. Large parts of the City have adapted remarkably well to working [...]
Boris Johnson urges people to ‘behave responsibly’ as pubs open tomorrow April 11, 2021 Boris Johnson has urged people to “behave responsibly” as thousands of pubs across England are set to open their doors tomorrow. Covid restrictions will be eased for large parts of the economy tomorrow, with non-essential retail, hairdressers, beauty salons, gyms and outdoor hospitality allowed to reopen in London after four months of forced closure. However, [...]