IMF: UK economy to shrink more than 10 per cent amid second wave October 29, 2020 The International Monetary Fund (IMF) slashed its growth forecasts for the UK economy today, and urged the government to keep spending record amounts to support a recovery. UK GDP will shrink by 10.4 per cent in 2020, the Fund said. The new figure was a considerable from the prediction of a 9.6 per cent fall [...]
BBC bans ‘virtue signalling’ as it cracks down on stars’ social media use October 29, 2020 The BBC has banned presenters from “virtue signalling” on social media as part of tough new rules on how its top talent maintains impartiality online. As part of a sweeping overhaul unveiled today, BBC stars have been told not to express personal opinions on public policy, politics or controversial subjects. The overhaul marks a major [...]
Foxtons revenue dips despite pent-up lockdown demand October 29, 2020 London estate agent chain Foxtons said business picked up “significantly” in the third quarter, but admitted that rents had fallen due to weakening demand. Group revenue for the three months to 30 September was £28.5m, down 10 per cent compared to last year. Foxtons’ share price fell more than four per cent this morning as [...]
Has Jack Ma made IPOs a weapon of corporate warfare? October 29, 2020 Ant Group is not a household name. An affiliate of Chinese tech wizard Jack Ma’s Alibaba, it operates the digital payment platform Alipay, which serves more than a billion users and is China’s largest such enterprise. This week, Ant Group announced the pricing of its listing on the Hong Kong Stock Exchange and Shanghai’s Star [...]
US election: Where do Trump and Biden stand on tech issues? October 28, 2020 The bosses of Facebook, Twitter and Google are this afternoon appearing in front of a US Senate committee to face questions over key issues of tech regulation. With tech titans facing increased scrutiny in their home country, the topic is likely to be a key policy issue in the run-up to the presidential election. So [...]
Covid-19 sparks bleakest UK hotel sector outlook ‘in 50 years’ October 27, 2020 UK hotel trading performance is expected to plummet next year due to the impact of the coronavirus pandemic on travel and tourism, the latest research showed in the bleakest outlook for the sector in 50 years. Research by accountancy giant PwC showed that hotel occupancy rates are forecast to be 55 per cent across the [...]
The magic of mentoring can unleash an entrepreneurial revolution October 27, 2020 During times of uncertainty, great opportunity emerges from the darkness. That’s why new businesses are created in the midst of economic recessions. It might seem reckless to launch a company during this time of enormous disruption in society, but this is a chance to unleash our wildest dreams and experiment with new ideas. When big [...]
Clarks kicks off restructuring talks with landlords October 26, 2020 High street footwear retailer Clarks has begun negotiations with landlords over store closures and rental agreements as it prepares to launch a restructuring plan. Clarks and its advisors will meet with retail property owners this week to discuss a company voluntary arrangement, which would allow the retailer to move to a “turnover rent” model linked [...]
It’s OUR Fault Enterprise Leaders Don’t Understand Blockchain October 26, 2020 Business and enterprise leaders struggle with adopting blockchain for a wide variety of reasons. Not the least of which is that the industry gets itself into trouble by refusing to use a consistent set of terms. We are “Scuppered by Language”. Even when books and articles are written in an easy and accessible way, they [...]
Barcelona’s strategy to attract foreign tech investment, second best in Europe October 26, 2020 The number of foreign tech companies in Catalonia grew by 21% in 2020 reaching 1,369 The fDi Intelligence division of the ‘Financial Times’ group together with The Next Web – one of the leading European media and companies in the field of technology and startups – recognise Barcelona and Catalonia’s strategy to attract foreign technological [...]