Sainsbury’s mulls sale of banking division October 31, 2020 The new Sainsbury’s boss is reportedly planning a sale of the supermarket’s banking arm as the impact of near-zero interest rates hit. The supermarket launched the bank in 1997 and now boasts more than 2m customers across a range of products including mortgages, home insurance and credit cards. But medium-sized banks are facing pressure as [...]
Jimmy Floyd Hasselbaink on missing football, black managers getting less time, Frank Lampard’s Chelsea and dabbling in property October 30, 2020 Jimmy Floyd Hasselbaink is bellowing instructions at a plumber amid the chaos of a building site as he answers the phone to City A.M.. The former Chelsea, Leeds and Holland striker and, more recently, promising manager is overseeing works at what will be a new family home for the Hasselbainks. When the 48-year-old is not [...]
Second lockdown ‘not inevitable’, says Robert Jenrick October 29, 2020 Ministers are doing “everything we can to avoid a full national lockdown”, housing secretary Robert Jenrick said this morning. Speaking to Sky News after France and Germany both ordered new coronavirus lockdowns last night, Jenrick said that a second set of full restrictions was not “inevitable”. He added that the government believes it can control [...]
Generation Covid are being denied the opportunities we all took for granted October 29, 2020 This week, a new study by the London School of Economics — the most comprehensive of its kind — confirmed our worst fears about the economically divisive impact of the pandemic. Any pretext that we are “all in this together” has been utterly dashed. According to the research, young people have seen their job prospects and earnings [...]
Boeing to slash 7,000 more jobs after fourth straight quarter of losses October 28, 2020 Planemaking giant Boeing will reportedly slash 7,000 more jobs as the firm reported its fourth straight quarter of losses. As a result, by the end of the year the US company will have shed 30,000 jobs – 20 per cent of its 160,000-strong workforce. Boeing fell to a $466m loss for the third quarter, meaning [...]
Tech resale site Music Magpie plots London stock market float October 28, 2020 Resale site Music Magpie is plotting an initial public offering in London after enjoying a bump in revenue during the coronavirus lockdown. The company has tapped investment banks Peel Hunt and Shore Capital to lead the float, which is expected to take place next year. Music Magpie allows customers to exchange their old electronic devices, [...]
‘Netflix of sports’ DAZN to launch in UK in December at cut-price £1.99 per month October 28, 2020 Sports streaming service DAZN has rescheduled its UK launch for December and slashed the price to £1.99 a month. DAZN has spent big on boxing rights and its first major live event for UK viewers will be British lightweight Luke Campbell’s fight with American Ryan Garcia on 5 December. The self-styled ‘Netflix of sports’ is [...]
Will Tao Geoghegan Hart’s Giro d’Italia win get more people in Britain cycling? October 27, 2020 Tao Geoghegan Hart’s surprise victory at the Giro d’Italia on Sunday was just the latest success story in a golden era for British cycling. Coinciding with the unprecedented Olympic medal tallies of Team GB and the Grand Tours won by Sir Bradley Wiggins, Chris Froome and Geraint Thomas has been a surge in people picking [...]
Music scouting platform Instrumental secures Tencent backing October 27, 2020 A British music scouting firm that uses algorithms to discover new artists is said to have secured fresh investment from Chinese tech giant Tencent. Instrumental is set to announce the strategic partnership, which will see Tencent take a minority stake in the company, as early as tomorrow, Sky News reported. The deal will come as [...]
Easyjet raises £300m from plane sales in bid to boost balance sheet October 27, 2020 Easyjet today agreed to sell nine more planes for £305.7m as the low-cost carrier seeks to relieve pressure on its balance sheet. Wealth management firm Wilmington Trust Services will buy five Airbus 320s, and aircraft leasing firm Sky High 112 will buy the remaining four 320s. Earlier this month Easyjet was reported to have told [...]