Now hiring: DPD bets big on online delivery market with 6,000 new workers and £200m spending spree June 18, 2020 Delivery giant DPD is hiring 6,000 new workers in order to keep up with demand from “the biggest boom in online retailing in the UK’s history” as a result of the coronavirus lockdown. The firm said it would also put £200m extra cash into its network, as part of an “unprecedented investment in our infrastructure [...]
Tesco sells Polish business for £165m due to ‘market challenges’ June 18, 2020 Tesco has announced it will sell its struggling Polish operation for 819m zlotys (£164.6m), as the British supermarket giant seeks to streamline its presence across Central Europe. In a statement this morning, the big four supermarket chain said it will sell Tesco Polska’s 301 stores and associated distribution centres to Salling Group A/S, subject to [...]
Taylor Wimpey takes a punt on £500m land buying splurge June 18, 2020 Housebuilder Taylor Wimpey has raised £522m from investors to help it buy up land which has been made cheaper by the coronavirus pandemic. The FTSE 250 company raised funds from both new and existing shareholders in a share placing, where shares were bought at 145p each. This represented a four per cent discount on yesterday’s [...]
FTSE 100 closes higher but loses ground on second wave fears June 17, 2020 The FTSE 100 closed higher today, albeit losing some ground as markets remain jittery on fears of a second coronavirus wave in China. London’s blue-chip index climbed to trade 0.72 per cent higher during the afternoon afternoon, before closing up 0.18 per cent. The rally came despite figures released earlier today showing UK inflation falling [...]
US mortgage applications hit 11-year high, homebuilding misses expectations June 17, 2020 Mortgage applications by Americans have hit their highest level since 2009 as people rush to take advantage of record low mortgage rates, but homebuilding in the US increased less than expected in May. Applications for a home loan in the US have surged over the past nine weeks after cratering in early April, according to [...]
UK inflation sinks to four-year low as coronavirus puts pressure on prices June 17, 2020 UK inflation fell to a four-year low in May, driven by falling fuel costs and cuts to clothing prices as coronavirus sucked demand from the global economy. The Consumer Price Index (CPI) dropped to 0.5 per cent last month, the Office for National Statistics (ONS) said, falling from 0.8 per cent in April. Read more: [...]
B&Q-owner Kingfisher bounces back after initial lockdown hit June 17, 2020 B&Q-owner Kingfisher has reported more than one-fifth rise in second quarter profit, as its stores in the UK and Europe emerged from coronavirus lockdowns. The home improvement group said on Wednesday that underlying sales grew 21.8 per cent year-on-year in the three months to June 13, as customers took on more DIY projects than before [...]
FTSE 100 closes higher on new coronavirus drug hopes June 16, 2020 The FTSE 100 extended its gains this afternoon closing up nearly three per cent after a major development in an Oxford University clinical trial. London’s blue-chip index climbed to highs of 3.53 per cent in the afternoon, before closing up 2.96 per cent. It erased Monday’s losses when traders were jittery on second wave fears. [...]
Fed chair Powell: US economic recovery hinges on coronavirus being under control June 16, 2020 The US economy will not fully recover from the coronavirus pandemic until the American people are sure that the outbreak has been brought under control, Federal Reserve chair Jerome Powell said. “Until the public is confident that the disease is contained, a full recovery is unlikely,” Powell told US lawmakers. In the first of two [...]
Selfridges, Kurt Geiger, Intu hail shopper appetite as stores reopen June 16, 2020 High-end retailers have struck a positive note after the first day of their stores being reopen since the coronavirus lockdown started in March. Selfridges, the London department store, said that footfall had been greater than expected, while other retailers and venues gave similar indications. Selfridges said: “We have been pleasantly surprised by the response as [...]