UK businesses pay £1bn of furlough money back to the Treasury June 17, 2021 British firms have paid back the government more than £1bn in previously claimed furlough payments, after weathering the Covid recession successfully. A Freedom of Information request, sent by the Financial Times, revealed that £709m of money claimed through the coronavirus job retention scheme has now been repaid to HM Revenue and Customs by businesses. Another [...]
Multinational tax dodging strategies should be as damaging as fuelling climate change June 11, 2021 The G7’s landmark deal to tackle tax avoidance and crack down on multinational companies that treat our global economy as a financial rabbit warren, might seem a welcome step in the right direction. But until businesses start seeing tax as an investment opportunity as opposed to an unwelcome bill, it’s unlikely to make much of [...]
Selfridges put up for sale with £4bn price tag June 10, 2021 The billionaire owners of Selfridges are considering selling the iconic department store group, with bids expected to top £4bn. The Weston Family has lined up advisers at Credit Suisse to advise on a potential sale after receiving an unsolicited takeover approach, React News reported. It is understood offers in excess of £4bn are likely to [...]
FTSE 100 slides despite strong earnings but Wall Street picks up May 26, 2021 The FTSE 100 slipped today despite a strong set of corporate earnings on a slow day for Europe’s markets. Across the Atlantic, however, Wall Street showed signs of gains after another positive start for tech stocks. London’s blue-chip index fell 0.1 per cent over the course of the day, a second straight session of losses [...]
Supply chain pioneers, CORE (UK) Ltd win The Queen’s Award for Enterprise for International Trade May 7, 2021 We’ve launched our 5 step guide to building a digital supply chain which you can download here https://www2.core-uk.com/5-steps-to-advance-your-digital-supply-chain/ UK’s most prestigious business accolade awarded to independently owned digital supply chain management pioneers CORE (UK) Ltd for growth and commercial success in international trade Software innovation is at the heart of CORE’s international growth success. Their [...]
Shakespeare: Primark at the heart of the reopening fun April 28, 2021 The easing of lockdown restrictions on April 12 allowed non-essential retail stores to reopen nationwide – and data from YouGov BrandIndex UK suggests that Primark has been a particular beneficiary. The budget fashion chain recently returned £121m to the Treasury, following record sales in the week after the lockdown restrictions were relaxed. In the days [...]
Economy shows green shoots of recovery as dividends fall at slowest rate in a year April 26, 2021 UK dividends fell at their slowest rate in the first quarter in an encouraging sign the economy is starting to recover from the worst of the pandemic. Payouts fell 26.7 per cent to £12.7bn in the first quarter year-on-year, according to Link Group’s latest Dividend Monitor. Since the nearly 50 per cent drop in payments [...]
Fears of new variants drives FTSE down two per cent April 20, 2021 London’s main market plunged two per cent today, wiping out last week’s gains amid a bad day for big tobacco. The index joined in a global stock market rout on Tuesday, ending the day at 6,859.87, down 140.21 points. The drop pushed the FTSE 100 back through the symbolic 7,000 point mark it smashed last [...]
Mulberry ramps up sustainability pledges as retailers scramble to boost environmental reputations April 20, 2021 Mulberry has become the latest retailer to ramp up its sustainability measures as the spotlight on environmental and social issues has intensified in the wake of fast fashion scandals. The designer accessories brand today announced it will buy back, resell or repurpose any Mulberry bag when it becomes unusable. It has also pledged to achieve [...]
Primark owner restores dividend as high street stores reopen April 20, 2021 The owner of Primark today said it would restore its dividend and pay back furlough money as it issued an upbeat outlook following the reopening of retail stores. Associated British Foods (ABF) halted its payout last year due to the outbreak of Covid-19, which sparked an almost £1.5bn hit to its first-half Primark sales. The [...]