Ted Baker completes bank refinancing as Covid delays results May 25, 2021 Ted Baker today said it has refinanced by extending its revolving credit facility with lenders. Under the new agreement, a facility of £108m maturing in September 2022 and a restricted facility of £25m maturing in January 2022 will be replaced by a new facility of £90m reducing to £80m in January 2022 until maturity in [...]
City A.M. TV: A Market Snapshot May 24, 2021 Are markets resilient or rolling? That’s a key question currently on investors’ minds. That’s especially so given the concerns about the recent high US core CPI inflation print as well as the troubling price action in Bitcoin. In this clip, we stand back from the market noise and look at what the price action is [...]
London shopper numbers surge as return of indoor dining drives up trips to city centre May 24, 2021 shopper numbers surge as return of indoor dining drives up trips
Can companies really balance the needs of all stakeholders? May 24, 2021 The question of whether companies can combine profits with purpose continues to be a thorny one. In March, management change at French food producer Danone underlined the difficulties some companies face in trying to become more sustainable businesses. The CEO-chairman, who had made a powerful statement of intent by formally turning Danone into a “purpose-driven [...]
Flood the streets with art: traffic-free weekends and an all-night celebration in the City for a cultural comeback May 24, 2021 The City’s reopening is building up to a crescendo with the return of visitors and audiences to some of the Square Mile’s iconic cultural institutions. One of the things that I – like many others – have missed the most during lockdown has been the opportunity to enjoy world-class art and culture in person rather [...]
Marks & Spencer set to buy more food from EU amid border disruption in Northern Ireland May 23, 2021 Marks & Spencer will reportedly start buying more food from the EU as it looks to reshape some of its supply chain amidst chaos on the Northern Ireland border. The retailer is looking to source more products from companies on the Continent as well as from Ireland and Northern Ireland, the Telegraph reported. It comes [...]
Beyond Pret sandwich sales, how do we measure the recovery of London? May 23, 2021 After more than a year of lockdown restrictions, words like “recovery” are thick in the air. Indeed, the Bank of England is forecasting annual growth of 7.25 per cent, the fastest rate since 1941; positive news, but it is not the most digestible statistic for much of Britain’s population. The most important benchmarks are ones [...]
Brexit impact: Heathrow loses legal bid over end of tax-free shopping for tourists May 21, 2021 Heathrow Airport has lost a High Court bid to challenge the scrapping of tax-free shopping for tourists. Two schemes providing VAT-free shopping for some international visitors were withdrawn by the Treasury at the end of the Brexit transition period on 1 January of this year. The Treasury and HMRC’s decision related to the VAT Retail [...]
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 [...]