Back Business Tuesday, February 23, 2021
Search Sections 23 Feb
Close
Advertisement
MARKET REPORT: Tesla slams brakes on the US tech stock boom  23 Feb 5:36pm Updated MARKET REPORT: Tesla slams brakes on the US tech stock boom 
The likes of Scottish Mortgage Investment Trust have been in demand in the last year from retail shareholders who prefer not to buy into firms such as Apple, Facebook and Netflix directly.
 Like Reply
Melrose boss under fire over closure of GKN Birmingham car parts plant 23 Feb 5:36pm Updated Melrose boss under fire over closure of GKN Birmingham car parts plant
Simon Peckham (pictured) said the Birmingham factory had lost more than £100m in a decade and was shedding more business because of the switch towards electric vehicles.
 Like Reply
Sterling flies higher on recovery hopes 23 Feb 5:36pm Updated Sterling flies higher on recovery hopes
As Goldman Sachs said the UK economy was 'well positioned for a near-term rebound', the pound rose above $1.41 for the first time since April 2018 and topped €1.16 for the first time since March last year.
 Like Reply
HSBC to keep its Canary Wharf HQ as it plots to close half its offices 23 Feb 5:36pm Updated HSBC to keep its Canary Wharf HQ as it plots to close half its offices
HSBC said it would reduce the office space it occupies by 40 per cent to cut costs and allow staff to work from home more often. It is feared the move could be highly damaging to many local economies.
 Like Reply
Get workers back to our city centres, PM urged  23 Feb 5:36pm Updated Get workers back to our city centres, PM urged 
While the PM's plan includes the reopening of shops and hairdressers in April - along with pubs and restaurants serving outdoors - advice to work from home will last until at least June 21.
 Like Reply
23 Feb 5:30pm Number of FTSE 100 female directors rises by 50% in five years
The Guardian
Women now make up one in three boardroom roles at 350 top UK firms after review achieves target The number of female directors at FTSE-100 firms has increased by 50% in the last five years, and women now hold more than a third of roles in the boardrooms of Britain’s top 350 companies, according to the final report of a review into female representation at the top of business. Although men still dominate the top ranks of business, the government-backed Hampton-Alexander review has achieved its target of 33% of board positions at FTSE 100 and FTSE 250 firms being held by women by the end of 2020.
 Like Reply
23 Feb 4:48pm Oatly looks to raise money in stock market float
BBC
The Swedish plant-based milk company said it is planning to sell its first public shares in a US stock exchange listing.
 Like Reply
23 Feb 4:30pm Britain’s young people need more than Sunak’s Kickstart as pandemic lays waste to jobs
The Independent
Even with the furlough scheme, unemployment is rising rapidly and the young are getting hit hardest, writes James Moore
 Like Reply
23 Feb 3:19pm Shares in UK travel and hospitality surge in response to roadmap
The Guardian
UK sectors hit hardest by lockdown show sharp rise as big tech shares fall on Wall Street UK travel and hospitality companies set to benefit from the easing of Covid restrictions rallied on the London stock market after
 Like Reply
23 Feb 2:05pm The Guardian view on a post-Covid recovery: not just for the well-off | Editorial
The Guardian
The government must not allow an even more divided society to emerge post-pandemic It was John Maynard Keynes who developed the
 Like Reply
23 Feb 2:04pm Swedish alt-milk brand Oatly seeks $10bn US stock market listing
The Guardian
Sales have soared for the Malmö-based firm as more people embrace a vegan or vegetarian diet Fashionable Swedish alt-milk brand Oatly is seeking a US stock market listing that could value the business at as much as $10bn (£7.1bn). Malmö-based Oatly is riding high as global
 Like Reply
23 Feb 1:30pm Updated Holiday bookings surge after lockdown exit plans
BBC
Travel firms serving the UK and overseas report a huge jump in bookings and website traffic since Monday.
 Like Reply
23 Feb 11:52am HSBC to slash post-Covid office space by 40% as profits drop by a third
The Guardian
Bank also reaffirms greater shift towards Asia-Pacific, where most of its earnings come from HSBC is to reduce its office space around the world by nearly 40% as part of sweeping cost cutting designed to capitalise on new part office-part homeworking arrangements after the pandemic. The decision to move to new hybrid working arrangements was announced as HSBC confirmed it was accelerating its pivot towards Asia, including China and Hong Kong, despite concerns about the political crackdown in the former British colony.
 Like Reply
Two thirds of small British firms expect to grow their business in 2021 23 Feb 11:29am Updated Two thirds of small British firms expect to grow their business in 2021
The Guardian
Two thirds of UK businesses say they are optimistic about their prospects of growth in 2021, with younger business owners the most upbeat about the immediate future.
 Like Reply
Housing transactions drop for first time since April as stamp duty holiday nears end 23 Feb 10:35am Updated Housing transactions drop for first time since April as stamp duty holiday nears end
The Guardian
Property transactions in the UK took a tumble in January for the first time in nine months according to HMRC data, in the latest sign the pandemic-fuelled market boom is coming to an end.
 Like Reply
23 Feb 10:09am Gordon Ramsay: my restaurants are £60m down thanks to Covid
The Guardian
Celebrity chef says £10m worth of reservations were ‘wiped out overnight’ in December
 Like Reply
23 Feb 9:15am Updated Holiday bookings surge in UK after lockdown exit plans revealed
The Guardian
EasyJet, Tui and Thomas Cook report jump in interest in hours after Boris Johnson speech
 Like Reply
NS&I power outage left savers locked out of online banking on Monday 23 Feb 9:12am Updated NS&I power outage left savers locked out of online banking on Monday
The Guardian
A 'technical issue' which affected the Treasury-backed bank for most of yesterday meant many of its 25m savers were locked out, while customer services could not help over the phone either.
 Like Reply
23 Feb 9:10am Updated UK jobless rate highest since 2016; reopening hopes lift travel shares – business live
The Guardian
Rolling coverage of the latest economic and financial news
 Like Reply
What is Modern Monetary Theory: Do we need to worry about the deficit? 23 Feb 8:38am Updated What is Modern Monetary Theory: Do we need to worry about the deficit?
The Guardian
An increasingly popular economic idea holds that countries that issue their own currency shouldn't worry about deficits and should pursue full employment.
 Like Reply
23 Feb 7:54am MWC Shanghai: Gadget companies gather for rare pandemic tech expo
BBC
New products include a phone that fully charges in 20 minutes and an under-screen selfie camera.
 Like Reply
23 Feb 7:47am Elon Musk no longer world’s richest person as Tesla shares fall
The Guardian
Carmaker’s CEO falls behind Amazon founder Jeff Bezos after tweet saying bitcoin price ‘seems high’
 Like Reply
23 Feb 7:37am Updated UK unemployment hits five-year high
The Independent
Jobless measure hits highest level in five years as data reveals 307,000 people still away from work
 Like Reply
23 Feb 7:33am Updated Holiday bookings surge following lockdown exit plans
BBC
Travel agencies and airlines say website traffic jumped following Boris Johnson's announcement.
 Like Reply
23 Feb 7:29am Updated HSBC to cut jobs and resume dividend payments as profits slump by a third
The Independent
Bank says it is shifting its focus to Asian markets
 Like Reply
23 Feb 7:22am Under-25s hit worst as unemployment rises again
BBC
UK unemployment has risen to 5.1% - its highest level in almost five years, official figures show.
 Like Reply
23 Feb 7:07am Sports Direct owner Frasers warns of £100m Covid writedown
The Guardian
Retail group affected by decision to keep non-essential retailers in England closed until at least 12 April
 Like Reply
Motorists allow car insurance policies auto-renew far more in lockdown 23 Feb 7:02am Motorists allow car insurance policies auto-renew far more in lockdown
The Guardian
Nearly three million more drivers have let their car insurance auto-renew so far this year compared to the same point of 2020 adding £2.1bn collectively to bills, GoCompare estimates.
 Like Reply
23 Feb 6:50am Under-25s worst-hit as unemployment rises again
BBC
UK unemployment has risen to 5.1%, official figures show, with the under-25s hit hardest.
 Like Reply
23 Feb 6:34am Updated Facebook reverses ban on news pages in Australia
BBC
Facebook will reverse a decision to block access to news content, Australia's government says.
 Like Reply
23 Feb 6:21am Coronavirus: Gender pay gap enforcement delayed by a further six months
BBC
The equalities watchdog says it is the right move amidst the pandemic, but Labour calls it "unacceptable".
 Like Reply
23 Feb 5:55am Rich nations must either help developing countries fight Covid or live in a fortress | Mohamed El-Erian
The Guardian
The G7 needs to keep giving financial aid and other support if it wants to avoid ongoing disruption
 Like Reply
Porsche to begin production of CO2-slashing eFuel next year 23 Feb 5:34am Updated Porsche to begin production of CO2-slashing eFuel next year
The Guardian
The fuel would not require any modifications to a car and make existing motors as clean as electric cars, taking into account the carbon footprint from production and supply.
 Like Reply
23 Feb 5:08am Unemployment: Younger workers bear brunt of job losses amid Covid crisis
BBC
UK unemployment has risen to 5.1%, official figures show, with the under-25s hit hardest.
 Like Reply
23 Feb 4:25am Updated UK jobless rate rises to 5.1% for first time since 2016 – business live
The Guardian
Rolling coverage of the latest economic and financial news
 Like Reply
23 Feb 4:10am Updated UK unemployment rate jumps to 5.1%
The Independent
Jobless measure hits highest level in five years as data reveals 307,000 people away from work
 Like Reply
23 Feb 4:06am Updated UK unemployment rate at highest for almost five years
BBC
The unemployment rate rose to 5.1% in the three months to December, with many younger workers affected.
 Like Reply
Help with the rental deposit: How these alternative companies work 23 Feb 3:58am Updated Help with the rental deposit: How these alternative companies work
BBC
Young renters have been hit financially by the pandemic. With hefty deposits often a barrier to moving, companies are now offering to secure their tenancies for them - in exchange for a fee.
 Like Reply
How can I get money back from refunds paid to a closed credit card? 23 Feb 3:49am Updated How can I get money back from refunds paid to a closed credit card?
BBC
HSBC have not sent me a cheque, nor have they refunded me through my bank account. What should happen in this situation and how can I get them to give me my money back?
 Like Reply
Sunny Heart Travel: Ex-Thomas Cook staff launch it on 1 March 23 Feb 3:48am Updated Sunny Heart Travel: Ex-Thomas Cook staff launch it on 1 March
BBC
Opening a travel agent in the midst of a global pandemic may seem like a brave move but that is exactly what Sunny Heart Travel is doing.
 Like Reply
Cash is king: Three quarters of drivers pay for parking with coins 23 Feb 3:48am Updated Cash is king: Three quarters of drivers pay for parking with coins
BBC
Of all the payment options on offer, including pre-paying online, contactless smartphone transactions and using bank cards, the study found that 75% of all parking payments are made using coins.
 Like Reply
Kipferl owner: We tackled lockdown but now stock is stuck at customs 23 Feb 3:47am Updated Kipferl owner: We tackled lockdown but now stock is stuck at customs
BBC
Hubert Zanier, 47, took over his favourite cafe in 2019 when it went into administration. Little did he know, he'd have to save it again when Covid hit. Now he's tackling Brexit.
 Like Reply
23 Feb 2:43am Updated UK unemployment rate rises to 5.1%
BBC
The rate of unemployment in the UK rose 5.1% in the three months to December, figures show.
 Like Reply
23 Feb 2:00am PayPal refuses to refund me £200 for cancelled tickets
The Guardian
I booked tickets for The Prince of Egypt but it couldn’t go ahead due to the Covid lockdown
 Like Reply
23 Feb 1:18am HSBC looks to Asia after profits plunge 34%
The Guardian
More executive roles are expected to relocate to home base of Hong Kong as part of Asia shift, where most of its earnings come from HSBC, Britain’s biggest bank, has recorded a 34% drop in profit for 2020 as it prepares to double down on its operations in Hong Kong and China despite concern about the political crackdown in the former UK colony. The bank said on Tuesday that pre-tax profit was down from $13.3bn (£9.4bn) in 2019 to $8.8bn in the 12 months to 31 December, while the adjusted profit before tax of $12.1bn (£8.6bn) fell 76% on the year before.
 Like Reply
23 Feb 12:28am HSBC shifts focus from west to east as profits dive
BBC
The UK-based bank has signalled its "pivot to Asia" as annual profits slump during the pandemic.
 Like Reply
23 Feb 12:11am Denver plane engine fire consistent with metal fatigue in fan blade, say investigators
The Guardian
US reveals preliminary results of inquiry into Pratt & Whitney engine fire that led to grounding of dozens of Boeing 777s around the world Metal fatigue in the fan blades may have been behind the engine failure of a Boeing jet in Denver at the weekend, the US National Transportation Safety Board has said. The Pratt & Whitney engine caught fire shortly after take off on a United Airlines Boeing 777-200, during a flight from
 Like Reply
23 Feb 12:02am HSBC sees 34% drop in profits from Covid impact
BBC
The UK-based bank is in the midst of cost-cutting measures, which will see some 35,000 jobs go globally.
 Like Reply
22 Feb 11:41pm Updated Clubhouse confirms data spillage of its audio streams
BBC
A user has been banned for streaming audio from multiple Clubhouse chatrooms onto their website.
 Like Reply
22 Feb 11:03pm Spotify to expand into more than 80 new markets
BBC
The audio streaming company wants to extend its global reach to include more than a billion extra people.
 Like Reply
On the top

Date settings

Today is Wednesday, April 14, 2021

+ 1 -
+ 1 -
+ 2016 -

Close

By using our website, you agree to the use of cookies as described in our cookie policy.

Accept