Before the Bell: Reflation concerns prompts yields spike while UK CPI is up next February 17, 2021 Over the past few weeks, it’s been notable that bond markets, both in the UK and in the US are starting to price the risk of higher inflation pressures, as long-term yields move to the upside. Yesterday, US 10-year treasury yields jumped sharply higher to 1.3 per cent, in a move that suggested that markets [...]
Coronavirus: London suffers ‘heaviest job losses in UK’ during pandemic February 16, 2021 London suffered the largest number of job losses of any UK region during the pandemic last year, as the capital continues to feel the weight of a “geographically unequal crisis”, according to the Institute for Fiscal Studies (IFS). The number of London employees on payrolls dropped 5.5 per cent between February and December last year, [...]
Booze subscription service Virgin Wines to list on AIM in £100m move February 16, 2021 Booze subscription service Virgin Wines to list on AIM in £100m move
The fight for the future of British fish and seafood February 15, 2021 As the fishy issue of seafood continues to cloud the waters between the EU and post-Brexit Britain, fishermen and suppliers are clamouring to reinvent the industry. Local & Independent has launched a Be Unshellfish campaign highlighting the difficulties faced by fishermen and explaining how both professional chefs and consumers can buy direct from the nets. [...]
Wetherspoons boss calls for pubs to open alongside non-essential shops February 15, 2021 Wetherspoons chairman Tim Martin has urged the government to reopen pubs at the same time as non-essential shops, as the Prime Minister prepares to lay out his “roadmap” for exiting lockdown. Martin called for a clear timeline for pubs across the UK to resume selling pints, warning the industry is “on its knees” from months [...]
City A.M. TV: Daily Market Snapshot (video) February 15, 2021 The great pause, which we have seen in global equity markets over much of February, appears to be over. Markets are breaking out to the upside. That started with strength in the US into the close on Friday, with that strength continuing in Asian trading earlier today. Asian markets are also following – the Nikkei [...]
The Week Ahead: Barclays, Natwest, retail sales, public borrowing February 15, 2021 City A.M. takes a look at some of this week’s market-shaping events. Barclays – Full year results (Thursday) The past 12 months have been difficult ones for banks in general, but UK banks have underperformed relative to their peers, Hewson said, with the unknowns of what a final Brexit deal might look like also weighing [...]
Before the Bell: Europe set for a higher open after bitcoin tests $50k February 15, 2021 Bitcoin continued to make new record highs over the weekend, edging close to the $50k level after last week’s surprise revelation that Tesla had taken the decision to plough $1.5bn into the cryptocurrency with a view to making it a means of payment. Despite some widespread scepticism about the wisdom of such a move it would [...]
Advisory firm Teneo moves in on Deloitte’s restructuring arm February 13, 2021 Deloitte is said to be preparing a sale of its restructuring arm to PR and advisory giant Teneo, marking a further shake-up of Britain’s Big Four audit firms. Teneo, which is backed by private equity group CVC Capital Partners, is in advanced talks to snap up the Deloitte unit that specialises in business insolvencies, Sky [...]
High street redundancies: Which retailers have cut jobs in the pandemic so far? February 13, 2021 Thousands of high street jobs have evaporated during the coronavirus pandemic, as retail chains have fallen under the pressure of lockdown restrictions on trading. The UK high street, which was already struggling before the pandemic, is set to look very different when shoppers return after lockdown following high profile collapses that have cost many retail [...]