Coronavirus: Government begins to wind down furlough scheme September 1, 2020 Companies using the coronavirus furlough scheme will now have to contribute to workers’ wages as the government begins to wind down its emergency support. The job retention scheme, introduced in March, has paid 80 per cent of salaries for workers on temporary leave, capped at £2,500 per month. From today this will be reduced to [...]
Volatility was the name of the game in 2020: What were the most popular sectors, funds and shares? January 4, 2021 Volatility was the name of the game in 2020 as the pandemic wreaked havoc across the globe. The spread of Covid-19 was a shock to the financial system, stock markets plunged and companies battened up the hatches. Despite the vaccine breakthroughs markets are still deep in a tunnel of uncertainty about when the global economy [...]
Loungers shares jump on ‘encouraging’ post-lockdown sales August 5, 2020 Shares in Loungers, the owner of the Cosy Club and Lounge brands, surged this morning after the casual dining chain said it is “encouraged” by trading levels since reopening last month. Loungers’ share price jumped 13.49 per cent to 122p after the company said it was “confident” of its future after the coronavirus pandemic. The [...]
Marston’s cuts 2,150 jobs due to new coronavirus restrictions October 15, 2020 Pub chain Marston’s has put 2,150 jobs at risk of redundancy following the introduction of new three-tier coronavirus restrictions. The government announced the new local lockdown system earlier this week, with most pubs in areas placed in the highest tier of restrictions expected to close. Marston’s said the introduction of the new rules is “hugely [...]
UK mortgage approvals plunge to record low as coronavirus hammers economy June 29, 2020 UK mortgage approvals fell further to hit a record low in May as the coronavirus pandemic continued to hit the housing market, according to the latest Bank of England figures. Some 9,300 new loans for houses were approved last month, down from April’s 15,900. Economists polled by Bloomberg had been expecting 25,000 approvals for May. [...]
Spending in UK restaurants jumped 34 per cent on Eat Out to Help Out days September 2, 2020 Spending in UK restaurants and fast food outlets was up 34.2 per cent on Mondays, Tuesdays and Wednesdays in August, compared to the same days in July during the government Eat Out to Help Out scheme. Wednesdays experienced the biggest increase during Eat Out to Help Out, as spending grew 39.7 per cent month-on-month, according [...]
Easy does it for travel and leisure as they underpin the FTSE 100 today February 23, 2021 After a promising start European markets struggled to maintain their early market optimism today. However, some decent gains continue in the likes of travel and leisure stocks, with multi-month highs in a lot of cases. Over the last three days this renewed buoyancy has been evident in anticipation of a possible reopening, and with a [...]
Our recovery from Covid-19 is a chance not to build walls, but to cooperate November 15, 2020 As we make our way through the second round of national Covid-19 restrictions, life today is very different to what we expected 12 months ago. The UK last week passed the tragic milestone of 50,000 deaths linked to this terrible virus, while many businesses and households across the country continue to struggle due to the [...]
Stansted Airport set to axe nearly 400 jobs as demand plunges October 7, 2020 Stansted Airport is set to cut nearly 400 jobs following a sharp drop in passenger numbers amid a second wave of the pandemic. The airport’s owner, Manchester Airports Group (MAG), confirmed it will begin discussions with unions on proposals to reduce employee costs at Stansted, Manchester and East Midlands airports. The UK’s largest airport group [...]
Exclusive: ‘Banks should deliver the same experience as Amazon and Netflix’, says Ezbob CEO January 21, 2021 After a year that was hugely disrupted by Covid-19 and the entire economy and its workforce moved online, City A.M. sat down with Tomer Guriel, CEO of Mayfair-based Ezbob, which provides digital lending software to some of the biggest banks and financial institutions in the City. A vaccine is being rolled out, so the City [...]