Economists raise fears over Rishi Sunak’s new job support plan September 24, 2020 Economists this afternoon raised concerns that Rishi Sunak’s new support measures could lead to many workers losing their jobs as they do not encourage firms to keep employees on. The centrepiece of the chancellor’s scheme is a new “Job Support Scheme”, which will replace the existing furlough initiative. Under the plan, the government will support [...]
FTSE 100 surges after restrictions ‘not as tough’ as feared but US stocks mixed September 23, 2020 The FTSE 100 jumped as it continued to recover from Monday’s rout, while US stocks were mixed as investors weighed up the chances of fresh stimulus. London’s blue-chip index was up 1.7 per cent at 5,926 points, edging it closer to the 6,000 threshold. The FTSE 250 was up 1.05 per cent. Read more: Coronavirus: [...]
Mars scraps Uncle Ben’s branding over racism links September 23, 2020 Mars has announced its Uncle Ben’s rice brand will be renamed Ben’s Original following accusations of racial stereotyping, as the retail giant joins a list of global brands seeking to brush up their image. Mars today unveiled its revamp for the 70-year-old rice brand, which will see its logo of an African-American man dropped in [...]
The “homebody economy” – investing in your digital back yard September 23, 2020 It is clear that UK shares are unloved. No likes, no shares, no new friend requests. The level of gloom surrounding this market is remarkable even amongst UK based investors, who, you might think, should feel more comfortable investing here. This is not just pandemic queasiness. Although the UK economy is service-led to some extent, [...]
Sadiq Khan calls for emergency business support as London restrictions loom September 22, 2020 Mayor of London Sadiq Khan has called on the Prime Minister to introduce emergency financial support for businesses affected by the new 10pm curfew and warned that extra restrictions lay on the horizon for the capital. Khan said he has had “constructive” conversations with Boris Johnson today about the new 10pm curfew for hospitality and [...]
Debate: Has pandemic-induced online shopping killed the high street for good? September 22, 2020 The coronavirus lockdown in March forced the vast majority of high street shops to close their doors, at least temporarily. In turn, online shopping became the new normal for UK consumers. And even as the country eased out of lockdown, many have stuck with the habit. In fact, a recent survey found that two in [...]
Hipgnosis plots £250m share placing to fund song buying spree September 21, 2020 Hipgnosis today announced plans to raise £250m through a share placing as the music royalties investment firm ploughs on with its aggressive expansion strategy. The London-listed company said it aims to raise the funds through the placing of up to 216m new ordinary shares at 116p per share. It will also offer up to 3.6m [...]
FTSE 100 and US stocks slip amid rising coronavirus cases September 18, 2020 The FTSE 100 and US stocks slipped as investors weighed up rising coronavirus cases and the latest decisions by the Bank of England and US Federal Reserve. London’s main stock index fell 0.5 per cent to 6,017 points at 3pm. Mid-cap firms were hit harder, with the FTSE 250 dropping one per cent. Read more: [...]
West End footfall bounces back faster than London’s business districts September 17, 2020 Visitor numbers in the West End are recovering faster than London’s business districts, the latest footfall data showed. Parts of the West End have reached more than 50 per cent of pre-Covid movements despite the continued closure of the area’s theatres, boosted by the prevalence of pubs, shops and restaurants. However footfall in the Holborn [...]
Aspinal of London prepares to close stores due to low city centre footfall September 17, 2020 Luxury brand Aspinal of London is the latest retailer to launch a restructuring process as it seeks to close stores due to a sharp drop in city centre footfall during the coronavirus pandemic. The firm, which has 10 stores as well as concessions in Harrods and Selfridges, has unveiled a company voluntary arrangement (CVA) proposal [...]