To qualify or not to qualify? Auditors move to ditch risky clients November 30, 2020 Qualifying an audit could lead to unhappy clients and litigation risks, so it is safer to ditch clients instead, an expert has told City A.M., after several auditors dropped clients in October. Last month three separate auditors terminated contracts with clients in compromising circumstances. At the time the reputational risk of being associated with the [...]
FTSE 100 remains on track for best month in 30 years November 30, 2020 The FTSE 100 reversed early losses this morning to remain well on track for one of the best months in its history in November. London’s premier index gained 0.4 per cent this morning, meaning it is is set for a monthly gain of over 13 per cent – its best in 31 years. JD Sports [...]
Mike Ashley offers Philip Green’s embattled Arcadia emergency funding November 30, 2020 Mike Ashley has offered emergency funding to fellow retail billionaire Sir Philip Green’s Arcadia empire, which is on the brink of bankruptcy. After speculation that a deal was in the offing over the weekend, Ashley’s Frasers Group today confirmed that it had offered the Topshop-owner £50m in loans. It added that should the company enter [...]
Vaccine news leads to surge in London business confidence: Lloyds November 30, 2020 London business confidence increased following the news a Covid-19 vaccine may soon be a reality. According to the Lloyds Bank’s Business Barometer for 2020, overall confidence of firms in London rose five points in November to -19 per cent.Firms’ confidence with their own business prospects was -18 per cent, compared to -16 per cent in [...]
Covid-19: London in Tier 2 restrictions – what are the new rules to follow? November 27, 2020 The covid-19 restrictions have been strengthened since before the lockdown, so what are the new rules for work, home and socialising now that London's in Tier 2
Don’t make us pay national insurance for furloughed staff, say struggling businesses November 27, 2020 Business groups representing hospitality, retail and leisure businesses have united to urge the government to provide sector specific support for fear of going bust due to higher tier restrictions. The groups, which have launched a ‘Bounce Back Better’ campaign to urge the government to provide them support, have asked for National Insurance payments to be [...]
Primark to reopen all stores in England with extended hours on 2 December November 27, 2020 Primark will reopen all of its stores in England when lockdown lifts next week, with extended opening hours to cope with higher demand ahead of the holiday season. The fast fashion giant has 153 stores in the country, 11 of which, including the White City store in west London, will open for 24 hours on [...]
Philip Green’s Arcadia ‘faces collapse’ in the coming days November 27, 2020 Sir Philip Green’s retail empire Arcadia, owner of Topshop, could appoint administrators early next week. Sky News reported the move could put 13,000 jobs at risk. The appointment of administrators could happen as early as Monday, although one source close to the story told Sky News the plan had not been finalised and could be [...]
Planning permission granted for 454 new homes in Wembley November 27, 2020 Brent Council has given the green light on building 454 new homes, including 40 per cent affordable housing, next to Wembley Park underground station. The scheme covers a 1.6-acre site, and will be delivered across five buildings. The new homes will be a mixture of studios, one, two and three-bedroom apartments. The affordable homes will [...]
London Tier 2: City leaders breathe ‘sigh of relief’ but push for return to the office November 26, 2020 City leaders have welcomed the announcement that London will be placed into Tier 2 when lockdown lifts, but warned that the capital will only fully recover when the government outlines a clear policy on returning to work. Health secretary Matt Hancock today said London will join regions such as Liverpool and Suffolk on “high” alert [...]