Government urged to increase support for retail firms after EU State Aid rule changes December 18, 2020 The government has been urged to increase the financial support available to retail and hospitality businesses after the European Commission confirmed that the UK is able to apply a revised state aid framework. The EU said earlier this week that the UK can implement the revised Covid-19 State Aid Temporary Framework, which increased the limit [...]
FTSE 100 and US stocks slip as market optimism dips December 18, 2020 The FTSE 100 fell along with European and US stocks as optimism faded on trading floors, with doubts creeping in about a US stimulus bill and fresh tensions with China. London’s main stock index was down 0.2 per cent in the afternoon session to 6,539 points. The FTSE 250, which is more domestically focused, fell [...]
London-based cryptocurrency exchange CEX.IO celebrates seven years of innovation and growth December 18, 2020 2013 was the year Bitcoin came of age as an investment vehicle. At the start of 2013 the digital currency was trading at around $13.50 per Bitcoin. By the end of November 2013, Bitcoin was trading at over $1,075. At that time the cryptocurrency industry in the UK was new and still small and yet [...]
Hammerson seeks secondary Irish listing amid Brexit worries December 18, 2020 European shopping centre owner, Hammerson has sought admission to Dublin's stock exchange to maintain access to the European market.
Are investors adjusting to the new normal? December 18, 2020 Potential for recovery following Covid-19 and trends which have accelerated as a result of it give many reasons for optimism heading into 2021 The list of reasons for investor uncertainty heading into 2021 remains long. A global pandemic. Lockdowns. Volatile markets. Political turbulence. Uncertainty over jobs and the economy. Record levels of government borrowing – [...]
FCA cancels £205,000 of bonuses after LCF scandal report December 17, 2020 The Financial Conduct Authority (FCA) has cancelled £205,000 worth of executive bonuses after a damning report found the watchdog had failed to properly regulate a collapsed firm. But FCA employees implicated in the report are now facing calls to pay back bonuses for previous years after an investigation found “significant gaps and weaknesses” in the [...]
FCA failed to properly regulate London Capital & Finance, inquiry finds December 17, 2020 The UK’s financial watchdog did not effectively supervise and regulate mini-bond scandal company London Capital & Finance (LCF) before it collapsed last year, an independent investigation has found. The inquiry singles out Andrew Bailey, who was the Financial Conduct Authority’s boss at the time, and who is now Governor of the Bank of England. LCF [...]
UK inflation drops to 0.3 per cent as clothes and food prices sink December 16, 2020 The UK’s inflation rate fell sharply to 0.3 per cent as food and clothes prices eased during England’s month-long lockdown, according to the latest official figures. The headline CPI rate sank from 0.7 per cent in October to 0.3 per cent in November, data from the Office for National Statistics (ONS) showed. Clothes and footwear [...]
H&M sales drop as second Covid-19 wave slows recovery December 15, 2020 H&M reported a sharp drop in sales in the fourth quarter as the second wave of coronavirus restrictions curbed spending. The world’s second-biggest fashion retailer said sales dropped 10 per cent, driven by a slowdown in the final quarter of the month. H&M said the recovery seen in the third quarter had continued into the [...]
FTSE 100 slips ahead of London lockdown as job losses mount December 15, 2020 The FTSE 100 slipped into the red as London prepared itself for a new lockdown and job losses climbed, with the index bucking the trend of European and US markets which rose amid positivity about coronavirus vaccines. London’s biggest index was down 0.5 per cent in afternoon trading to 6,501 points. The FTSE 250 was [...]