Alphabet-backed health insurance startup Oscar aims to raise more than $1bn in upcoming IPO February 22, 2021 Oscar Health Insurance is planning on raising more than $1 billion in its IPO.
Roadmap: Hospitality industry faces financial ruin as sector remains shut until April February 22, 2021 The hospitality industry has reacted with fury as the Prime Minister plans to allow pubs and restaurants to serve outdoors only and not until 12 April. Currently, only 40 per cent of businesses in hospitality have outdoor spaces, meaning most will still face restrictions after April. In response to today’s announcement, UK Hospitality Chief Kate [...]
Air Partner takes home £11.5m from Covid-related services despite travel restrictions February 22, 2021 While most flights were grounded, aviation group Air Partner has enjoyed a profitable year, taking home £11.5m due to its ferrying of PPE throughout the pandemic. The strong profits followed the group’s buy-up of CHS Engineering (CHS) at the end of 2020, which brough new consultancy services and baggage system testing ahead of new rules [...]
London holds firm as financial services centre of Europe February 22, 2021 Many European financial services firms are applying for permission to operate in the UK, signifying London will continue to be a leading player on the global financial stage post-Brexit. Nearly 1,500 EU-based financial services firms have applied for permission to operate in the UK, with around 1,000 of those planning to establish their first UK [...]
Supreme Court rules Uber drivers entitled to workers rights February 19, 2021 The Supreme Court has this morning rejected Uber’s appeal against a ruling that a group of its drivers should be recognised as “workers”. Judges unanimously dismissed the appeal. After nearly five years in the courts, the decision could have profound implications for the so-called gig economy workers. Uber drivers are currently treated as self-employed, meaning [...]
Arcadia collapse leaves bigger than expected £510m pension deficit February 19, 2021 The collapse of high street empire Arcadia has left a £510m pension deficit, some £200m more than previous estimates. Arcadia collapsed in December, becoming the largest casualty of the coronavirus pandemic and leaving thousands jobless. The news of a bigger-than-expected pension deficit, first reported by the Retail Gazette, paints a starker picture for individuals affected [...]
Publisher Future lifts profit forecasts as it completes Go Compare deal February 19, 2021 Magazine publisher Future today said it expects full-year profit to come in ahead of previous forecasts as it completed its £600m takeover of price comparison site Go Compare. The media group, which owns titles such as Country Life, Four Four Two and Tech Radar, reported strong trading in the four months to the end January [...]
Moneysupermarket profit drops as demand for travel insurance and credit products falls February 18, 2021 Moneysupermarket, the financial services price-comparison platform, suffered a fall in profit and revenue last year as lockdown restrictions caused a drop in demand for insurance and credit products. Moneysupermarket, which also owns the advice website Moneysavingexpert, said profit after tax fell 27 per cent from £94.9m in 2019 to £69.3m last year. Group revenue was [...]
Greening the economic recovery is vital for the UK’s long-term prosperity February 17, 2021 The decisions we make in the coming weeks and months on how the UK economy recovers from covid-19 will shape our economy for decades. It is crucial that we start to phase-out carbon intensive industries and lock-in clean, green innovation. The Covid-19 pandemic has brought into sharp focus what happens when humans disrupt natural systems [...]
FTSE 100 follows global markets higher, as 15m Brits get first jab February 15, 2021 FTSE 100 follows global markets higher, as 15m Brits get first jab