The retail behemoths of the future will be the ones crafting a seamless online platform April 3, 2021 A casual observer of the much publicised takeovers of high street behemoths like Debenhams by online retailers such as Boohoo would be tempted to conclude that having an online presence is the swiftest hack for a brand to succeed in the current retail climate. But that is not the case. The UK may have leapfrogged [...]
US jobless claims rise again despite signs of recovery April 1, 2021 New claims for unemployment benefits in the US rose unexpectedly despite the vaccine rollout and a huge fiscal support driving market recovery. Initial claims for state unemployment benefits came in at 719,000, according to the Labor Department. Last week claims fell to 684,000, their lowest levels since the start of the pandemic. While the number [...]
Top of the shops: Asos sales growth set to continue due to lockdown gains April 1, 2021 Asos is set to report a further jump in earnings and sales as continuing lockdown restrictions have kept consumers shopping online. Revenue is expected to jump 22 per cent to around £1.95bn when it updates shareholders on its trading performance for the half year to February. Earnings are also expected to surge 135 per cent [...]
Global online tax on tech giants ‘in our grasp’, says Rishi Sunak March 23, 2021 Rishi Sunak has today said a global online tax on internet giants like Amazon and Facebook is “in our grasp”. Sunak said he was “very keen to see a resolution” on the issue, with the chancellor making it one of his top three priorities in G7 meetings this year that are hosted by the UK. [...]
Sir Philip Green’s office furniture up for sale as administrators flog Arcadia assets after collapse March 22, 2021 Administrators have begun flogging Arcadia’s assets, including sewing machines and Sir Philip Green’s office furniture, following the collapse of his retail empire. Deloitte has appointed Hilco Global to sell the former Topshop owner’s London headquarters in a dramatic fall from high street royalty to the auction house. Arcadia collapsed into administration last year, putting 13,000 [...]
How to pick the Gold Cup winner March 18, 2021 Forget natural instinct, paddock picks or pure luck. The only way to consistently back winners is with cold, hard data. Trends are clues. If you find enough, you’ll solve the puzzle. This puzzle is called the Cheltenham Gold Cup and it’s been going since 1819. Just don’t ask us for a receipt… Age No horse [...]
Boris Johnson signals willingness for new UK online tax on internet giants March 10, 2021 Boris Johnson has today signalled he could be open to a new online tax on tech giants like Amazon, while highlighting the taxation “discrepancy” between digital and bricks and mortar businesses. Johnson said during Prime Minister’s Questions (PMQs) today that chancellor Rishi Sunak has “tried to address” the discrepancy “in an equitable way”. Sunak has [...]
AIM outperforms London’s main market during 12 months of Covid-19 March 8, 2021 A year on from the start of the Covid-19 pandemic, the AIM has strongly outperformed London’s main market, something highly unusual in periods of economic downturn. London’s AIM outperformed the FTSE All-Share by a number of metrics, in part due to several of its listed companies performing well during the pandemic. The AIM All-Share index [...]
Rishi Sunak to rally US to agree to G7 tax on tech giants March 7, 2021 Rishi Sunak will call on his US counterpart Janet Yellen to help coordinate an international tax on tech giants like Amazon at the upcoming G7 summit. Sunak has already said that one of his priorities at the G7 summit, which will be held in Cornwall this year, will be to get the ball rolling on [...]
Budget 2021: Which expected policies were not announced? March 3, 2021 Rishi Sunak’s Budget was a tale of two halves, with the chancellor spending big over the next two years before implementing a series of tax rises in the years after. Many of the policies announced were already leaked days or weeks in advance, with the corporation tax rise to 25 per cent for the UK’s [...]