Decline in London’s business activity eases as economy reopens July 13, 2020 There was a marked easing in the downturn in business activity across the capital last month, as the economy picked up and lockdown restrictions loosened. Natwest’s London Business Activity Index – which monitors the combined output of London’s manufacturing and service sectors – rose from 30.3 in May to 46.2 in June. Anything below 50 [...]
Help young Londoners take their first step on the career ladder June 29, 2020 For so many young people, the coronavirus pandemic has left them questioning their educational future and career pathways. It has been such an uncertain time for pupils across the capital. And that’s why this year we were even more determined than ever before to host the London Careers Festival (LCF), albeit in a new format. [...]
Young’s pub chain taps investors for £88m ahead of pubs reopening June 25, 2020 Young’s pub chain has raised more than £88m from its investors via a share placing ahead of the reopening of pubs from next week. The firm said it had placed a total of 4,263,453 placing shares at 1,160p per share and 4.9m non-voting shares at 735p per share to raise £85.5m. Young’s also raised a [...]
RBS extends business account switching deadline amid coronavirus June 23, 2020 Royal Bank of Scotland (RBS) has given business customers another six months to switch their accounts to other banks under the terms of its financial crisis state aid package. RBS said fewer customers have used the Incentivised Switching Scheme to swap banks during the pandemic. As a result the deadline for switching applications will be [...]
Businesses are cautiously optimistic as downturn in activity eases June 17, 2020 Signs of a turnaround in business activity has prompted UK firms to feel more optimistic about the outlook for the next few months. Natwest’s small business activity index shows small steps towards recovery. The index monitors output at private sector firms with between one and 49 employees in the services, construction and manufacturing industries. It [...]
Cloud-based phone system Aircall raises $65m amid home working boom May 27, 2020 Cloud-based phone system Aircall has raised $65m in Series 3 funding led by DTCP, as demand for the firm’s technology has surged during the remote-working boom sparked by the coronavirus pandemic. The round was led by DTCP with participation from new investors Swisscom and Adam Street, as well as existing investors Balderton Capital, Draper Esprit, [...]
Treasury mulling plans for ‘bad bank’ to manage stakes in bailed-out firms May 17, 2020 The Treasury is considering plans to develop a so-called “bad bank” in order to hold stake in bailed out companies, the Sunday Times reported, amid fears that key firms could fail due to the coronavirus pandemic. The initiative reflects similar steps taken by the Labour party during the 2008 financial crisis, when it set up [...]
Young’s pub chain to secure extra £100m financing to survive coronavirus crisis May 13, 2020 Pub chain Young’s said it is in the process of securing an additional £100m of financial headroom to help sustain the business throughout the coronavirus crisis. The company said it has issued paper with a value of £30m and a maturity date of 13 May 2021 under the government’s Covid Corporate Financing Facility. It is [...]
Angling Direct accelerates online sales growth and eyes reopening physical stores May 12, 2020 Angling Direct has reiterated its guidance after “encouraging” levels of trading across the firm’s online stores amid the coronavirus outbreak. Online sales in April were up 24 per cent year-on-year with a “further acceleration of these trends experienced in May 2020 to date.” Additionally, the retailer said investment in Angling Direct’s French, German and Dutch [...]
More than 100,000 UK firms apply for ‘bounce back loans’ on first day May 5, 2020 UK banks have reported huge demand for “bounce back loans” on the first day of the new coronavirus lending scheme yesterday, with more than 100,000 of Britain’s smallest businesses applying by this afternoon. The bounce back loan scheme is the latest coronavirus support package for UK firms. Launched yesterday, it offers the UK’s smallest companies [...]