Think short-term for lockdown but not for investing November 25, 2020 The UK’s second lockdown means everyone’s winter plans have been torn up and thrown away. Even seemingly modest weekend activities – going to a museum, meeting a friend for lunch – are now off the table. As many of us learnt during the first lockdown, the trick is to focus on what is possible in [...]
Bertelsmann snaps up Simon & Schuster in $2.2bn deal November 25, 2020 The German media group behind Penguin Random House has acquired US publisher Simon & Schuster for $2.2bn (£1.6bn). Bertelsmann today confirmed it had secured the deal with owner Viacom CBS following a closely-fought bidding war. The takeover cements Bertelsmann’s position as the world’s largest book publisher, and strengthens its footprint in the US — its [...]
Franco Manca owner The Fulham Shore to open new sites in vote of confidence for London’s restaurant sector November 25, 2020 Franco Manca owner The Fulham Shore is opening new London restaurants in a vote of confidence in the capital’s hospitality sector despite the impact of the coronavirus pandemic. The company said today that it launched a Franco Manca restaurant in Waterloo in September that had traded well before the most recent lockdown, despite lower than [...]
Before the bell: Quiet start for Europe as all eyes are on US data November 25, 2020 It was another bullish day for global stock markets yesterday as sentiment was lifted by the vaccine hopes as well as the prospect of President Trump departing from his role in January in a calm and measured manner. The update on Monday from AstraZeneca-Oxford University that its potential Covid-19 vaccine has made great progress in [...]
UK retail sales fall in November but online shopping booms, survey shows November 24, 2020 Overall UK retail sales dropped in November but online shopping boomed as the England-wide lockdown forced customers to change their habits, a new survey has shown. The CBI’s monthly retail survey showed that sales fell in November year on year at a similar pace to the drop in October. The sales gauge came in at [...]
JD Sports in exclusive talks with Debenhams to buy department store November 24, 2020 JD Sports is in exclusive talks with Debenhams that would see the troubled department chain acquired by the sportswear business, according to reports. Debenhams fell into administration in April for the second time. The coronavirus has hit the destitute department store hard, with stores closed and thousands of jobs axed due to the virus. According [...]
AO World swings to profit as working from home boosts revenue more than 50 per cent November 24, 2020 Online electricals retailer AO World swung to profit in the six months to September, as a surge in domestic appliance sales during the pandemic helped revenue rocket more than 50 per cent. The company, which sells washing machines, fridges, TVs and laptops, said sales in the six months to 30 September jumped 53.2 per cent [...]
Pets at Home remain dogged throughout pandemic as sales soar during lockdown November 24, 2020 Pets at Home has cemented itself as a rare winner during the pandemic, as the group notched double digit revenue growth in the six months to October following an “exceptional period of demand” during lockdown. The FTSE 250-listed firm thanked its allocation as an “essential” retailer during the coronavirus crisis for its 13 per cent [...]
UK economy to contract in November amid second Covid-19 lockdown November 24, 2020 The UK economy is set to suffer a significant contraction this month after Prime Minister Boris Johnson imposed a second national coronavirus lockdown. After six consecutive months of growth, the economy is expected to shrink 5.7 per cent in November, before recovering a marginal 0.3 per cent in December, according to analysis by PwC. The [...]
Curfew to be pushed back to 11pm but pubs warn restrictions will ‘destroy’ sector November 23, 2020 The Prime Minister has confirmed that the curfew for pubs and restaurants will be pushed back to 11pm when the coronavirus lockdown ends next month, but the hospitality industry has slammed new restrictions as “disastrous” for the sector. In a statement to Parliament this afternoon, Boris Johnson announced that the lockdown will be lifted on [...]