BoE’s Andrew Bailey tells UK banks to up preparations for no-deal Brexit June 3, 2020 Bank of England governor Andrew Bailey has reportedly told UK banks to ramp up their preparations for a no-deal Brexit as the UK sticks to its target to strike a deal before the end of the year. Bailey told British lenders to accelerate their planning for a no-deal Brexit scenario in a call yesterday, according [...]
Jeff Bezos takes stake in UK tech startup Beacon May 31, 2020 Amazon founder Jeff Bezos is reportedly investing in UK technology startup Beacon. The world’s richest man has agreed to back the startup, which is a specialist in digital freight forwarding and supply chain finance, according to Sky News. Bezos, who is worth approximately $143bn, is said to be participating in a $15m Series A funding [...]
Pret a Manger set for crucial rent talks with landlords May 31, 2020 Fast food chain Pret a Manger is preparing for rent talks with its landlords in a bid to stave off closing some stores due to the coronavirus crisis. The chain, a favourite of office workers around the UK, is preparing for a shift in footfall in city centres as working patterns shift due to the [...]
Governors call on ministers to drop plans to bring back all primary school children before summer holidays May 31, 2020 School governors have called on the government to drop its plans for all primary school children to return to school before the summer holidays, a day before some pupils are due to return. At the moment, the government’s intention is that all primary school age students will return for the final four weeks of term [...]
Paddy Power owner Flutter raises £812m in share placing May 29, 2020 Paddy Power owner Flutter today said it has raised £812m in a share placing that will see Rupert Murdoch’s Fox Corporation boost its holding in the gambling giant. Flutter, which also owns Betfair and Poker Stars, said it placed more than 8m new shares at £101 each, marking a 4.7 per cent discount on last [...]
Monsoon Accessorize teeters on brink of administration May 28, 2020 Fashion retailer Monsoon Accessorize is preparing to appoint administrators, putting up to 3,500 jobs at risk, as the coronavirus crisis continues to pile pressure on the already struggling UK high street. Monsoon Accessorize is expected to file a notice of intention to appoint administrators in the next few days, Sky News reported. FRP Advisory, which [...]
Neil Woodford one year on: How the star stock picker fell from grace May 28, 2020 Former star stock picker Woodford suffered a very public fall from grace last year after his flagship Equity Income fund was suspended following a spike in investor redemptions. One year on, we look at what caused Woodford’s demise, where he is now and what it means for the investment industry going forward. Who is Neil [...]
Employers asked to pay staff wages while they self-isolate under test-and-trace plan May 28, 2020 Employers should pay the wages of any staff told to self-isolate under England’s new coronavirus test-and-trace system, Health secretary Matt Hancock said today. The programme is a key plank in the government’s strategy to lift lockdown and restart the economy. From today, contacts of people who test positive for coronavirus will be asked to quarantine [...]
Hong Kong Racing Tips: Life can send Chau’s supporters into Utopia May 26, 2020 PUNTERS need to keep a close eye on the weather ahead of the nine-race all-weather card at Sha Tin on Wednesday. With showers and thunderstorms roaming around the territory at present, there is a distinct possibility the surface could ride slow, meaning the form-book can be thrown out of the window! The majority of racing in [...]
McLaren to cut 1,200 jobs as coronavirus forces group restructuring May 26, 2020 Supercar giant McLaren today announced it would cut 1,200 jobs across all of its operations due to the combination of the coronavirus pandemic and the new F1 price cap. The redundancies, which were first reported by Sky, will account for about a quarter of the Surrey-based firm’s workforce of 4,000. Jobs will be cut across [...]