Five steps to put digital at the heart of Britain’s recovery July 8, 2020 If, at the start of this year, you’d have told me that I was going to celebrate my brother-in-law’s thirtieth birthday via Zoom, I would probably have asked you what Zoom was. I certainly wouldn’t have guessed that I would have ministerial meetings, museum tours and even makeup lessons on the platform. But the world [...]
The City View: Edwin Brenninkmeyer on private aviation July 8, 2020 Subscribe to The City View Podcast: Apple / Google / Spotify / RSS Today Andy is joined by Edwin Brenninkmeyer, Chief Executive of Oriens Aviation – a firm based out of London Biggin Hill Airport which operates and sells private jets. Edwin talks about the increased interest in business aviation after the Covid-19 crisis, his views on the future of travel as [...]
Boohoo shares dive following Leicester factory allegations July 6, 2020 Shares in fast fashion retailer Boohoo slumped more than 18 per cent today following allegations of illegally low wages at the firm’s factory in Leicester. Boohoo shares fell 23 per cent during trading today, after the Sunday Times yesterday reported that workers making clothes for the firm’s Nasty Gal brand were paid as little as [...]
Watchdog orders Big Four to separate auditing units by 2024 July 6, 2020 The Big Four accounting firms — PwC, Deloitte, KPMG and EY — must separate their audit units from the rest of their businesses by 2024, the audit watchdog said this morning. The Financial Reporting Council (FRC) is asking the companies to agree to operational separation by June 2024 to ensure their audits “do not rely [...]
Markets live: Nasdaq hits record intraday high as FTSE 100 rallies on recovery hopes July 6, 2020 The FTSE 100 and US stock markets rose sharply today as investors cheered the prospect of more stimulus for the UK economy and followed the lead of Asian markets. London’s index of blue-chip companies was 1.87 per cent higher this afternoon at 6,2572.5 points. The FTSE 250 index of slightly smaller firms rose 1.27 per [...]
High street footfall soars on Super Saturday after lockdown lift July 6, 2020 Footfall in England hiked almost 36 per cent on Saturday evening, according to new research, as revellers flocked to high streets around the country to enjoy their first pints out after more than three months of lockdown. New data released by Springboard today showed that footfall on English high streets rose 35.8 per cent on [...]
Pret A Manger to close 30 stores after lockdown, putting 1,000 jobs at risk July 6, 2020 At least 1,000 jobs are understood to be at risk at Pret A Manger as it prepares to close 30 of its shops following a brutal lockdown. Pret has said it has suffered “significant operating losses” during the UK-wide shutdown of non-essential shops since late March. And while it has reopened 339 of its 410 [...]
Lloyds chief executive Antonio Horta-Osorio to step down next year July 6, 2020 Lloyds chief executive Antonio Horta-Osorio will step down in 2021 after a decade at the helm, the bank said this morning. The lender also announced the appointment of industry veteran Robin Budenberg as its new chairman, who will take over from Lord Norman Blackwell next year. Read more: FCA puts UK banks on notice on [...]
Young people face economic ‘scarring’ from Covid, says top think tank July 3, 2020 The coronavirus recession has dealt a double blow to young people in the UK, who are more likely to have lost their jobs amid the lockdown and now face bleak career prospects, a leading think tank has warned. New research from the Institute for Fiscal Studies (IFS) today said the carnage in the hospitality and [...]
4 July reopening: Soho to sizzle as street festival kicks off this weekend July 2, 2020 The West End is set to be the epicentre of 4 July reopening revelry this weekend with newly pedestrianised streets heralding what some are calling “The Summer of Soho”. Westminster Council have now confirmed that a number of streets in the famous entertainment district will be closed to motor traffic. That will allow venues to [...]