Hostelworld revenues plummet as bookings collapse March 17, 2021 Hostelworld saw its revenues collapse last year as the coronavirus pandemic put paid to booking volumes at the budget holiday firm. The company said that net bookings had fallen nearly four-fifths during the year, sinking its revenue from €80.7m to €15.4m. The fall meant the firm swung to an earnings loss of €17.3m, down from [...]
John Lewis to close more stores in places ‘where people aren’t going’ after it lost £517m in 2020 March 12, 2021 John Lewis to close more stores in places 'where people aren't going' after it lost £517m in 2020
FTSE closes higher and Wall St bounds ahead on $1.9 trillion US stimulus package March 11, 2021 The FTSE 100 pushed slightly higher today as final confirmation of a bumper $1.9 trillion US stimulus package cheered investors. The blue-chip index was up 0.17 per cent at 6,736 points by market close, while the domestically-focused FTSE 250 pushed 0.59 per cent higher. Mining stocks such as Rio Tinto, Anglo American and BHP Group, [...]
Marston’s boss steps down after two decades at the helm of pub chain March 11, 2021 Marston’s announced this morning that chief executive Ralph Findlay will step down this year after two decades at the helm of the pub chain. Findlay will leave on 30 September, at the end of the current financial year, and Marston’s has launched a search for his replacement. Marston’s chairman William Ricker said Findlay, who was [...]
Rolls-Royce plunges to huge loss as Covid turbulence sets in March 11, 2021 Rolls-Royce swung to a £4bn loss in 2020, as the cost of Covid turbulence became clear. The aerospace giant plunged to a loss of £4bn compared to a £306m profit in 2019 as the pandemic stopped airlines flying. The firm’s underlying revenue also sunk to £11.7bn from £15.5bn the previous year. Rolls-Royce’s model of charging [...]
Savills to pay dividend as UK residential unit makes ‘extraordinary’ recovery March 11, 2021 Savills has reinstated its dividend this morning as it reported that its UK residential agency division performed strongly last year, despite an overall drop in profit. The estate agent chain, which last year suspended its dividend due to the uncertainty caused by the coronavirus pandemic, said shareholders will pocket a 17p per share payout. Profit [...]
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, [...]