Morrisons profit hit by £290m Covid costs March 11, 2021 Morrisons this morning announced profit dropped last year after it was hit with £290m in costs related to the coronavirus crisis. Profit before tax dropped 62.1 per cent to £165m in the year ended 31 January, the grocer said, as the impact of repeated Covid-19 restrictions saw costs mount. The supermarket spent an extra £99m [...]
To stop women like Sarah Everard going missing, the conversation must start with men March 10, 2021 When I was at school, probably around 16-years-old, I was told not to have my hair in a ponytail if I was walking home at night. Potential attackers will likely be drawn in by a hairstyle which is easier to grab, I was told, by a male coach brought in to talk to us about [...]
Why civil servants shouldn’t fear a move to Darlington March 10, 2021 Guy Opperman, the MP for Hexham in Northumberland and the Minister for Pensions, on falling for the charms of the North East and why Treasury civil servants shouldn’t shed any tears when they move from London to Darlington. The Chancellor Rishi Sunak’s Budget was truly transformative. The North East will be home to the flagship [...]
The Week Ahead: ITV, Rolls Royce, Morrison, ECB and UK GDP data March 8, 2021 It’s Monday morning. City A.M. looks ahead at what this week has in store. China Trade for February This morning – The Chinese economy finished 2020 on a strong note, its surplus hitting a record high in December. Exports rose by 18.1 per cent, slightly down from November’s 21.1 per cent but still better than expected, [...]
Crash landing for Senior as Covid travel disruption wipes out profits March 8, 2021 Senior plc today warned this year would be as challenging as 2020 after the British aircraft parts supplier swung to an annual loss. The firm was struck by Covid-related disruptions to travel throughout the year, alongside Boeing’s 737 Max crisis. Senior reported an adjusted pre-tax loss of £6.2m, compared with a profit of £78.5m a [...]
Morrisons forecast to report £300m Covid-related costs in full-year results March 5, 2021 Morrisons is expected to report coronavirus-related costs of almost £300m in its full-year results next week due to the impact of the third Covid-19 lockdown. In a note to investors, analysts at Shore Capital Markets estimated that the current national lockdown will have elevated operating costs around absenteeism and temporary workers, as well as mounting [...]
Co-op Group under pressure to repay £80m of government funding March 4, 2021 The Co-op board will reportedly meet next week to discuss handing back millions in government cash it was handed during the pandemic. The move would follow in the footsteps of leading supermarkets who returned business rates relief at the end of last year and have pledged to forgo the break announced in the Budget. The [...]
FTSE reshuffle: Who’s in and who’s out of London’s blue-chip index? March 3, 2021 FTSE reshuffle: Who's in and who's now out of London's blue-chip index?
Budget 2021: UK tech sector ‘delighted’ with spending plans March 3, 2021 The UK’s thriving tech sector has hailed Rishi Sunak’s spending plans in the Budget today, saying the chancellor was “backing tech in a big way”. Announcing the Budget this afternoon, Sunak unveiled a raft of new measures aimed at boosting both startups and established tech firms. “This government should be applauded for committing heavily to [...]
Hong Kong Racing Tips: Fownes to hit back at the Valley March 2, 2021 WITH runaway jockeys’ championship leader Joao Moreira forced on the sidelines once again with a two-meeting suspension, it’s over to Zac Purton to produce the spoils for his many thousands of supporters at Happy Valley. The reigning champ has a strong book of rides in all nine races, with at least a half-a-dozen of his mounts guaranteed [...]