Ferrero Group in £250m bid to buy British Fox’s Biscuits September 30, 2020 Italian confectionary giant Ferrero Group is planning a £250m bid to buy British-based Fox’s Biscuits. The owner of brands such as Kinder and Nutella is working on a takeover deal with advisers, according to Sky News. Demand for biscuits has risen since the coronavirus lockdown, halting a downward trend as consumers opt for healthier snacking [...]
BoE’s Andy Haldane warns against ‘Chicken Licken’ economic pessimism September 30, 2020 The Bank of England’s chief economist said there was a risk that overly pessimistic “Chicken Licken” views about the impact of Covid-19 would hold back Britain’s economic recovery from the pandemic. In a speech given today, Andy Haldane said that authorities such as the BoE have a “public responsibility to avoid economic catastrophizing” during the [...]
Uber’s back and its rivals will just have to deal with it September 30, 2020 Having scraped by on short-term “emergency licences” for about two years, Uber, the California-based ride-sharing app provider, has been given a “proper” licence to operate in London again, after winning in a crucial appeals case this week. For now, this marks the end of two years of legal limbo. In 2017, Transport for London (TfL) [...]
Sunak’s subsidy scheme will save just one job per company in the business travel sector September 30, 2020 Last week, the chancellor outlined his Winter Economy Plan — trying to balance the needs of the economy with our health and wellbeing. No enviable task. Listening to his polished performance in the Commons, it would be easy to conclude that the chancellor’s new approach — underpinned by a Job Support Scheme and extended tax [...]
Tory minister backs ‘1984’ ban on singing and dancing September 29, 2020 A government minister has backed the government’s ban on singing and dancing in public venues, warning that some jobs in the UK’s night-time economy will take a “long time” to return in the wake of the pandemic. Skills minister Gillian Keegan told Sky News’ Kay Burley this morning that emergency laws implemented yesterday to curb [...]
Government looks to quell Tory rebellion over Covid restrictions September 28, 2020 The government is looking at ways at stopping a Tory backbench revolt over the implementation of new Covid restrictions, according to health secretary Matt Hancock. Hancock said he would meet with the revolt’s leader Graham Brady, chair of the powerful 1922 committee of backbench Tories, while also announcing that indoor mixing between households is now [...]
FTSE 100 climbs as ‘relief rally’ pushes global equities higher September 28, 2020 The FTSE 100 has started the week off strong, climbing as much as 1.69 per cent amid a global “relief rally” as investors rushed to buy up shares in beaten-down sectors after last week’s sharp stock market sell-off. Blue chips HSBC and spirits-maker Diageo helped boost the British blue-chip index on Monday, which was also [...]
Walmart selects billionaire brothers as preferred bidders for Asda September 28, 2020 US retail giant Walmart has selected a consortium led by the billionaire brothers behind petrol station chain EG Group with private equity firm TDR Capital as the preferred bidder to buy Asda. The deal would value the UK supermarket chain at more than £6.5bn, Sky News reported. The broadcaster said that Mohsin and Zuber Issa, [...]
Crypto AM Reshines the Spotlight on Wirex Lazarichev & Pavel Mateev September 28, 2020 Wirex, the leading payments platform bridging the gap between the traditional and digital economies, has come on leaps and bounds since Crypto AM last shined the light on us in 2018. Since its inception in 2014, our CEO and co-founders, Pavel Matveev and Dmitry Lazarichev, have always had the goal of making digital money more [...]
Boris Johnson facing parliamentary defeat over Covid powers September 27, 2020 Boris Johnson is facing his first parliamentary defeat since winning the 2019 election, with up to 60 Tory MPs prepared to defy party whips and vote for an amendment to new Covid legislation. Legislation to extend powers allowing the Prime Minister to unilaterally impose coronavirus restrictions by a further six months will come before the [...]