Britain is sitting on a mountain of debt – but there is a way to climb down May 5, 2021 The UK’s public finances – a source of perennial debate amongst politicians, think tanks, economists and investors – are in focus like never before. Covid-19 has ushered in a period of unprecedented public spending, funded in the main by large amounts of debt. Government borrowing – money it needs to borrow to pay for spending [...]
Arts and crafts store The Works plummets as profits take a hit in ‘successful’ year May 9, 2019 Investors were unimpressed with what The Works called a “successful” financial year, as shares plummeted by nearly a fifth as political uncertainty hit profits. Like-for-like sales growth has slowed in 2019, the company said, blaming “the widely reported economic and political uncertainty in the UK”. Read more: Growth slows at Morrisons amid political uncertainty Adjusted [...]
John Lewis scraps staff bonus as it crashes to £635m loss September 17, 2020 John Lewis today confirmed it will not pay a staff bonus for the first time in more than 70 years as the department store chain posted a pre-tax loss of £635m in the first half. The retailer reported a 2.7 per cent uptick in revenue to £4.9bn over the period, but said shoppers had spent [...]
We need more crypto companies to IPO to increase digital asset scrutiny and adoption January 6, 2021 As a publicly listed digital asset trading business, the recent announcement of Coinbase’s IPO has naturally put a spotlight on us at Voyager Digital and we welcome their move as it will improve trust, transparency and above all, adoption of digital assets. It is imperative that the crypto asset space ups its game as there’s [...]
Breaking: MPs vote lockdown into law from midnight tonight November 4, 2020 England will enter a month-long lockdown from midnight tonight, after MPs approved the new shutdown. MPs supported the fresh restrictions by 516 votes to 38 in a House of Commons motion this afternoon. It means pubs, bars, restaurants and non-essential shops will shut from midnight until 2 December. All people in England will be told [...]
Is the “Santa Rally” real? December 2, 2021 Investors found their festive spirits in 2020 despite a raging pandemic. Even with most of the global economy shut due to Covid-19, US stocks recorded their best December monthly return in over a decade, with the Ibbotson SBBI US Large Cap index returning 3.8%. It was the second year in succession that US stocks have [...]
UK advertising market not set to recover until 2022 after Covid-19 crash October 29, 2020 The UK advertising market will not recover until 2022 after sinking to record lows this year as a result of the coronavirus outbreak. Ad spend is set to come in at £21.5bn this year, marking a fall of £3.6bn — or 14.5 per cent — compared to 2019. The figures come ahead of the crucial [...]
Coronavirus lockdown: Central London retail footfall plunges 80 per cent November 23, 2020 Central London retail footfall fell 80.4 per cent last week compared to 2019 levels as the England-wide coronavirus lockdown continued to take its toll on the nation’s struggling high streets. The latest data showed that the capital was the worst affected region due to the impact of home-working, the lack of domestic and international tourists [...]
The Week Ahead: Barclays, Natwest, retail sales, public borrowing February 15, 2021 City A.M. takes a look at some of this week’s market-shaping events. Barclays – Full year results (Thursday) The past 12 months have been difficult ones for banks in general, but UK banks have underperformed relative to their peers, Hewson said, with the unknowns of what a final Brexit deal might look like also weighing [...]
City of London to host ‘back to work’ week in bid to revive Square Mile December 14, 2020 The City of London will call on office workers to return to the Square Mile in a “back to work” week in April, in a bid to help resuscitate the bars, restaurants and hospitality venues hammered by empty streets during the pandemic. William Russell, lord mayor of London and a former Merrill Lynch investment banker, [...]