City Moves for 1 April – Who’s switching jobs at Rainmaking, Raymond James and Coupa? April 1, 2020 Today’s City Moves includes Rainmaking, Raymond James and Coupa Rainmaking Corporate innovation and venture development firm Rainmaking has announced that Simon Torrance will be joining its UK and European leadership team as a senior adviser. Simon is a world-leading expert on business model transformation and platform strategy. He has 25 years’ experience working across multiple [...]
What impact is Covid-19 having on global economies and markets? March 31, 2020 The impact of the new coronavirus (Covid-19) pandemic continues to play out. The extent to which the virus will spread, both between and within countries remains unclear, and the duration and impact are highly uncertain. Sadly, the human impact continues to grow, and the virus has now claimed the lives of over 22,000 people, as [...]
Brits spent an extra £1.9bn in stockpiling spree before coronavirus lockdown March 31, 2020 Brits made over 79 million extra trips to supermarkets in the four weeks leading up to the coronavirus lockdown, as people rushed to stock up on groceries ahead of restrictions being introduced, according to industry data. The stockpiling drove a 20.5 per cent jump in supermarket sales up to 21 March, with customers spending an [...]
Hedge funds circle Paddy Power owner Flutter Entertainment March 30, 2020 Hedge funds and institutions are circling Paddy Power owner Flutter Entertainment, whose market value has fallen by a quarter in the past month due to its sports betting exposure. The suspension of sports fixtures across the globe has sent shockwaves through the gambling sector in recent weeks, with Flutter Entertainment plummeting as much as 35 [...]
Ted Baker appoints new chief executive amid coronavirus crisis March 30, 2020 Embattled fashion chain Ted Baker has appointed a new chief executive as the retailer battles the challenges caused by the outbreak of coronavirus. Acting chief executive Rachel Osborne will take on the role on a permanent basis, the company announced this morning. The former Debenhams finance chief took the reins in December when Lindsay Page [...]
Why the UK’s startup sector is worth saving March 30, 2020 Covid-19 has already destroyed so much. Lives, livelihoods, freedom of movement. For those on the frontlines, whether in the NHS, social care or supermarkets, or in the country’s many sick beds, the battle is fierce. As the dominoes of our economy have tumbled, the government has quickly stepped in. First to safeguard business. Then to [...]
FTSE 100 falls as coronavirus stimulus rally runs out of steam March 27, 2020 Britain’s FTSE 100 stock index tumbled today after three consecutive days of gains as uncertainty about the effects of coronavirus returned to the fore. The FTSE 100 closed 5.3 per cent lower at 5,510 points. It had risen more than 16 per cent over the previous three days after the US launched a $2 trillion [...]
Pursuing purpose, not profit, could help businesses grow a bigger pie for all of us March 27, 2020 The coronavirus crisis is highlighting one of the most fundamental tensions that business leaders face: do they pursue purpose or profit? Sainsbury’s chose purpose. They’ve reserved the first hour on every Monday, Wednesday, and Friday for elderly and vulnerable customers, and are giving them priority access for online delivery slots. The supermarket is also limiting [...]
British Land scraps dividend and defers £40m in rent March 26, 2020 British Land has suspended its dividend and will defer £40m in rents this quarter and spread repayment in response to the coronavirus outbreak. The firm is deferring March quarter day rents and spreading repayment over the six quarters from September 2020. The financial impact of this is expected to be £40m. The company added it [...]
Coronavirus: City of London Corporation defers rent payments for tenants March 25, 2020 The City of London Corporation is deferring this quarter’s rental payments for commercial tenants worst affected by the coronavirus pandemic. The Corporation, a major landlord in the Square Mile and beyond, is deferring rent payments for the March quarter for all retail, hospitality, small office, and serviced office tenants. Supermarkets, banks, pharmacies and building societies [...]