After the Nvidelity comes the Huangover. Jensen Huang joins long list who confused boardroom and bedroom
Greta is wrong, environmentalists need markets to protect the planet June 29, 2020 Free market advocates have too often vacated the environmental battlefield. And they have been scared off for good reasons. At best, climate politics is dominated by those who see little to no role at all for markets. At worst, environmentalism is a thinly disguised excuse for advocating far-left economic and social policies. Some have labelled [...]
Intu falls into administration after lender talks fall through June 26, 2020 Retail landlord Intu has fallen into administration after lenders failed to agree to last-minute relief on the company’s debt obligations today. Intu’s failure to raise new capital means KPMG will now step in to handle its administration. Adminstrators James Tucker, Michael Pink and David PIke will lead the process. Intu’s shares have now been suspended [...]
DEBATE: Will a fall in house prices be good for young people? June 26, 2020 Will a fall in house prices be good for young people? Matthew Addison, chief executive at StepLadder, says YES. Given that we still aren’t building enough homes to satisfy demand as a nation, it is incredibly important for this finite supply to be allocated in a way that works equitably. This hasn’t been the experience [...]
Intu ready to call in the administrators as funding talks fail June 26, 2020 Intu said it is set to call in administrators today after cliff-edge negotiations with lenders failed to secure its future. The retail landlord said “unfortunately, insufficient alignment and agreement has been achieved” with key creditors on a standstill on loan repayments, ahead of its debt waiver period expiring at midnight tonight. Intu was already suffering [...]
H&M losses worsen as pandemic hurts sales June 26, 2020 Losses at H&M were slightly worse than expected in the second quarter as shopper activity slumped amid the coronavirus pandemic. The world’s second biggest fashion retailer said its loss before tax in the three months to May was 6.48bn Swedish crowns (£559.4m), against a profit of 5.93bn crowns a year earlier. Analysts had on average [...]
Retailers pay less than 15 per cent of rent for June quarter as property crisis deepens June 25, 2020 Britain’s retailers paid just 13.8 per cent of their rent for the last quarter, in a sign of how hard the coronavirus pandemic has hit the sector. Rent receipts on 24 June, the day commercial tenants’ payments were due for the quarter, were even lower than those three months ago, according to commercial property management [...]
Prime Minister has ‘full confidence’ in Jenrick over £1bn housing row June 25, 2020 The Prime Minister has said he has “full confidence” in Robert Jenrick, as the housing secretary faces calls to resign over accusations he was part of a “cash for favours” scandal involving a £1bn property development. Downing Street this morning said the housing secretary still had the support of Boris Johnson after documents released yesterday [...]
Builders urge government to target 30,000 new houses for elderly a year in pandemic recovery June 25, 2020 The three largest retirement home providers have warned Boris Johnson that Britain’s economic recovery from the coronavirus pandemic will be “running on empty” if he does not urgently build new houses for older people. The chief executives of McCarthy & Stone, Churchill Retirement, and Lifestory Group have written to the Prime Minister urging him to [...]
CBI urges government to extend business loans scheme June 25, 2020 The CBI has urged the government to extend the Coronavirus Business Interruption Loan Scheme (CBILS) until November, as part of a wave of proposals to keep businesses alive as the UK faces its worst recession on record. The business body, which represents around 190,000 UK companies, today called on the government to extend the deadline [...]
Japan gives UK just six weeks to secure post-Brexit trade deal June 23, 2020 Japan has given the UK a mere six weeks in which to strike a post-Brexit trade deal, which would be one of the shortest timetables for trade negotiations in history. Tokyo’s chief negotiator Hiroshi Matsuura told the Financial Times that both parties will have to “limit their ambitions” when it comes to agreeing the deal, [...]