Wall Street edges higher as FTSE 100 falls flat despite recovery hopes May 21, 2021 Wall Street opened higher this afternoon as investors turned their attention to key business surveys at the end of a volatile week of trading. The Dow Jones rose 0.11 per cent on open and the S&P 500 gained 0.23 per cent, while the tech-heavy Nasdaq pushed 0.59 per cent higher. It came after the London’s [...]
Rishi Sunak must stop dragging his heels and seize a once-in-a-lifetime chance to fix global corporate tax May 21, 2021 Anger at the never ending stories of global corporations dodging tax is set to hit boiling point. Barely a day goes by without a fresh tale of a big multinational paying ultra-low rates of tax. Even after a year of record sales during the pandemic, Amazon Europe did not pay any corporation tax on the [...]
TGI Fridays to float its 87 restaurants on London Stock Exchange this year May 21, 2021 The owner of TGI Fridays has revealed plans to float the restaurant chain on the London stock market. Electra Private Equity, which has owned the casual dining brand since 2014, said it plans to float it on the FTSE main market in the third quarter of this year. The owner told investors today that it [...]
City A.M. TV: A Market Snapshot May 21, 2021 Despite some giveback earlier this week, price action in markets has been reasonably encouraging for the bulls, especially in the past 48 hours. In particular, a number of major asset prices have tested, held, and rallied from key support levels this week (including the S&P500, the NASDAQ100, and Bitcoin). In the case of Bitcoin, the [...]
Pound pushes past $1.42 on economic recovery hopes May 21, 2021 The pound pushed higher today and was on track for its third consecutive week of gains against the dollar after upbeat economic data lifted hopes for the UK’s post-pandemic recovery. New figures released this morning showed UK business activity expanded at its fastest rate since 1998 in May as the lifting of lockdown restrictions boosted [...]
Single-use plastic bag charge to double, with all shops adopting the tariff May 21, 2021 The extra charge for single-use plastic bags is set to double today, as the charge extends to all businesses in Britain. What was a 5p charge for a single-use carrier bag yesterday, will be 10p from today – and comes as pent-up demand pushes shoppers back to high streets. While it used to be only [...]
Used car dealer Cinch raises £1bn to speed up European growth May 21, 2021 Used car dealer Cinch this morning confirmed that it had raised £1bn from a group of blue-chip investors to fund the online platform’s expansion. Investors included a wholly owned subsidiary of the Abu Dhabi Investment Authority (ADIA), GIC, Neuberger Berman client funds and funds advised by Soros Fund Management. Sky first reported the raise, which [...]
Pret A Manger trades city centres for Pret-rol stations May 21, 2021 Pret A Manger is set to open new shops in petrol stations owned by the Motor Fuel Group (MFG), the café said today, in a well-needed boost for roadside stops. Wither fewer people travelling and going to work, petrol stations have suffered a sales slump of 13.3 per cent compared with the same month two [...]
UK business activity grew at fastest pace since 1998 in May May 21, 2021 Business activity in the UK expanded at its fastest rate since 1998 in May as the economy raced out of lockdown, new data today showed. A flash reading of the IHS Markit Composite PMI, which combines services and manufacturing, came in at 62.0, up from 60.7 in April. Any score above 50 indicates growth. IHS [...]
Close Brothers cautious on outlook despite 2021 profit surge May 21, 2021 Close Brothers today said the market maker business had made more operating profit this year than over the whole of fiscal 2020. The British lender’s profits were bolstered by a surge in trading activity, with average daily bargains rising 46 per cent to 120k in the quarter ended 30 April. Close Brothers’ loan book rose [...]