The governor of the Bank of England has apologised over the London Capital & Finance (LCF) savings scandal. Andrew Bailey, who was chief executive of the Financial Conduct Authority when LCF collapsed into administration last year, said sorry to the 11,600 victims who were left £237million out of pocket. It came as Dame Elizabeth Gloster, … Read more
Good times: Watches of Switzerland vows to pay back furlough money after online sales spike boosts its fortunes The firm is Britain’s biggest retailer of Rolex, TAG Heuer and Breitling watches Domestic e-commerce purchases doubled in the seven weeks to December 13 Tesco, Lidl, Asda, and Morrisons have also vowed to repay public Covid relief … Read more
Bank of England leaves rates at record low of 0.1% and holds off on buying more Government bonds as it awaits the outcome of Brexit talks All nine members of the Monetary Policy Committee voted to keep rates on hold The Bank also left its Government bond-buying programme unchanged The Bank has created £895bn of … Read more
BT’s network arm Openreach to take on 2,500 extra engineers and switch to electric vans By Daily Mail City & Finance Reporter Published: 21:50 GMT, 16 December 2020 | Updated: 00:02 GMT, 17 December 2020 The network arm of BT is poised to take on 2,500 more engineers and electrify its 27,000 vans. As it … Read more
Critics slam ‘shocked and appalled’ boohoo billionaire as he pleads ignorance to sweatshop factory conditions By Matt Oliver For The Daily Mail Published: 21:56 GMT, 16 December 2020 | Updated: 21:56 GMT, 16 December 2020 The billionaire founder of Boohoo faced a backlash after he claimed to be ‘shocked and appalled’ by the sweatshop conditions … Read more
Inflation tumbles as shops rush to cut prices with cost of clothing and footwear seeing biggest decline in a decade By Lucy White For The Daily Mail Published: 21:54 GMT, 16 December 2020 | Updated: 21:54 GMT, 16 December 2020 The crisis on the High Street has sent inflation falling as retailers slash prices. It … Read more
Dixons’ electric lockdown: Sales soar as families rush online to kit out home offices – and buy games consoles for the kids By Tom Witherow For The Daily Mail Published: 21:52 GMT, 16 December 2020 | Updated: 21:52 GMT, 16 December 2020 Shares in Britain’s biggest electricals chain Dixons Carphone rocketed 12 per cent after … Read more
Shares rallied and the pound surged to its highest level since 2018 as hopes grew that the UK could be on the cusp of striking a Brexit deal. The City was buzzing after EU Commission president Ursula von der Leyen said there ‘is a path to agreement now’ even if it ‘may be very narrow’, … Read more
While the pandemic has wreaked havoc on vast swathes of British business, trading firms are in the pink. Households are estimated to have built up around £100billion of extra cash in lockdown as spending on everything from travel to meals out evaporated. Many of these ‘accidental savers’ have looked for ways to put this money … Read more
All aboard! BAE Systems to hire record 1,250 trainees next year in boost for the North By Francesca Washtell For The Daily Mail Published: 21:50 GMT, 16 December 2020 | Updated: 21:50 GMT, 16 December 2020 Defence giant BAE Systems will create 1,250 jobs next year when it takes on a record number of trainees. … Read more