Home working widely adopted but concerns remain about morale May 30, 2021 Most businesses, particularly in the likes of finance and law, were able to offer remote working during the pandemic, however concerns about staff morale and mental wellbeing are still seen as a barrier to make the change permanent. Some two-thirds (66%) of businesses surveyed by the British Chambers of Commerce (BCC) were offering remote working [...]
Rapid delivery app Gorillas seeks $1bn to fuel international expansion May 30, 2021 Rapid grocery delivery service Gorillas is raising fresh capital that could propel its valuation to more than $5bn just one year after its launch. The Berlin-based unicorn company is raising close to $1bn to fuel international expansion, the Sunday Times first reported. Gorillas, which delivers groceries to customers’ homes within 10 minutes, operates in [...]
Ex-BBC Trust boss throws hat in the ring for BT chair May 30, 2021 Rona Fairhead, former BBC Trust chair, could become BT’s first female board boss, according to reports. Fairhead is in the running to succeed Jan du Plessis, who announced his retirement in March, the Telegraph reported. If successful, she will become the first woman to lead BT’s board. The search for a new leader is however [...]
Clucky escape: Nando’s avoids £300m debt default May 30, 2021 Lenders have given Nando’s some breathing space to avoid it defaulting on a £300m debt pile after being hit hard by pandemic-led restrictions. Banks including NatWest, Barclays and Santander have agreed to waive the testing of loan covenants in May, the Telegraph first reported, a move that helped Nando’s avoid defaulting. Covid restrictions have seen [...]
Nationwide to cull 150 mortgage advisers in online shift May 30, 2021 Nationwide will axe up to 150 of its mortgage advisers, as the lender shifts to holding online consultations with borrowers instead of than face-to-face meetings. Many of the 150 mortgage consultants are expected to accept voluntary redundancy, the Mail on Sunday first reported. Nationwide now carries out more than half of its mortgage consultations through [...]
High street could see yet more closures over unpaid rent May 30, 2021 Two-thirds of retailers have been told by landlords that they will be subject to legal measures from July, as an agreement with commercial landlords comes to an end. The high street could see yet more closures in the near future, as from 30 June, a moratorium agreed at the start of the pandemic that prevented [...]
Canadian firm votes for City of London with two property mega deals in pipeline May 30, 2021 Canadian private equity giant Brookfield is set to buy City of London property Plantation Place for a whopping £635m – the biggest office deal since Covid-19 changed working patterns and emptied offices. The deal is expected to complete this week, the Sunday Times first reported, with Brookfield also in separate talks to buy Milton Gate, [...]
‘Risky’ FTSE firms could be shunned by worried auditors fearing backlash May 29, 2021 There are worries that the crushing weight of public criticism combined with record-breaking fines could see perceived ‘risky’ FTSE companies shunned by auditors. Following large-scale collapses like Carillion and Patisserie Valerie, the audit sector has faced harsh criticism, having come under both the media and government’s spotlight for failing to do their jobs properly. According [...]
England’s R rate climbs above 1 with London and the North West showing highest rates May 28, 2021 England’s R rate is now estimated to be between 1 and 1.1, meaning the virus is steadily growing, with some parts of the country worse affected than others. The epidemic could be growing as much as 3 per cent per day, according to the latest government figures. London and the North West have the highest [...]
Johnson & Johnson single-dose Covid-19 vaccine approved for UK use May 28, 2021 The medicines regulator has approved Johnson & Johnson’s Covid-19 vaccine for use, making it single-shot vaccine available in the UK. The vaccine, developed by J&J’s pharmaceutical arm Janssen, has shown to be 67 per cent effective against moderate to severe Covid-19, according to reports. The UK has order 20 million doses of the vaccine. “As [...]
