Cake Box eyes 52 new stores as sales rise despite lockdowns
Cake Box has said it is eyeing the opening of 52 new shops as it expects to deliver a jump in sales for the past year despite the pandemic.
City
Recovery loans of up to £10m available to businesses requiring support
Government-backed loans of up to £10 million are to be made available for companies that need support until the end of the year.
Retail sales stage partial recovery as households prepare for lockdown end
Retail sales volumes recovered slightly in February but not enough to offset heavy falls a month earlier, new data from the Office for National Statistics (ONS) has suggested.
Goldman Sachs boss praises junior bankers for raising ‘workplace abuse’
The boss of Goldman Sachs has praised a small group of junior bankers for speaking out over excessive working hours and workplace abuse.
London sees ‘biggest change in living memory’ in 12 months since Covid hit
Business owners and industry experts have said London has witnessed its “biggest change in living memory” after the coronavirus pandemic emptied the streets of the Capital.
Answers demanded over claims Cameron lobbied for administration-hit Greensill
Labour wants an investigation into whether former prime minister David Cameron lobbied for a specialist bank that has since gone bust to handle extra Government-backed Covid loans.
Goldman Sachs junior bankers condemn 98-hour working week
First-year banking analysts at Goldman Sachs have said they have worked an average of 98 hours each week in 2021 as they called for a new cap on their arduous workload, according to an internal presentation.
Deliveroo picks London for potential stock market listing
Deliveroo has confirmed it has picked London for a potential listing as it looks set to become one of the latest in a flurry in recent stock market floats.
Around 1,150 jobs affected in Sainsbury’s restructuring with 500 HQ jobs axed
Around 1,150 jobs will be affected at Sainsbury’s as part of a restructuring which includes about 500 head-office roles being axed.
Hospitality chiefs cautiously welcome ‘crucial’ Budget support measures
Hospitality bosses have cautiously welcomed “crucial” VAT and business rates support from the Government but warned there is still a long road to recovery for the sector.
Guarantor loans overtake PPI in generating complaints to financial ombudsman
Guarantor loans have overtaken PPI as the most complained about product that the financial ombudsman is now seeing.
Hotel Chocolat enjoys online sales boost and vows to reopen all 125 stores
The boss of Hotel Chocolat has said all 125 stores will reopen once Covid-19 restrictions are eased and there no plans to shut any permanently.
Boohoo not aware of investigations amid reports it faces US import ban
Online fashion retailer Boohoo has said is not “aware of any investigation” by US Customs and Border Protection following reports it could face a US import ban over labour abuse allegations.
Centrica says overhaul ‘only just started’ as British Gas profits hit new low
British Gas owner Centrica has warned its overhaul “has only just started” as profits at its energy supply business slumped to a new all-time low.
NatWest reportedly considering withdrawing its Ulster Bank brand from Ireland
NatWest is considering withdrawing its Ulster Bank brand from the Republic of Ireland, it has been reported.
Moneysupermarket sees revenue drop after Covid-19 travel collapse
Moneysupermarket said that it suffered from the coronavirus pandemic last year as closed borders led to a collapse in travel insurance sales.
Moonpig eyes bumper sales after Valentine’s Day drives ‘strongest week’
Online card retailer Moonpig has said it reported its “strongest ever week” last week as customers flocked to its site for Valentine’s Day.
Iceland sacks senior boss after his comments about Wales
Iceland has sacked a senior boss after he made controversial comments about Wales and the Welsh language.
Serco shares soar after £212m US defence purchase
British outsourcer Serco has expanded its North American defence business with a 295 million dollar (£212 million) deal for a US contractor.
BHP announces record dividend as miner buoyed by Chinese demand
Mining giant BHP has declared a record interim dividend after it reported its strongest first-half profit in seven years.
Virgin Wines pops cork on stock market flotation
Home delivery wine retailer Virgin Wines has unveiled plans for a stock market flotation next month after enjoying booming demand amid the pandemic.
Hospitality bosses call on Chancellor to expand VAT cuts in March budget
The bosses of Burger King, Pizza Express and Fuller’s are among more than 160 hospitality chiefs who have called on the Chancellor to extend the VAT cut by another year.
Business borrowing soared but credit card usage plunged in 2020
UK businesses borrowed £35.5 billion in net terms last year, with a further £26 billion forecast by the end of 2021, according to new research.
Negative rates not imminent but lenders should be prepared, Bank of England says
The Bank of England has told lenders to get ready for potential future negative interests rates but stressed such a move was not imminent despite slashing 2021 growth forecasts.
New car market declined by almost 40% in January
Demand for new cars fell by 39.5% last month compared with January 2020, new figures show.
Shopper footfall slides almost two-thirds amid January lockdown
Retail footfall plunged by almost two-thirds in January following the latest set of lockdown restrictions, although experts have said shopping locations have fared notably better than during the first UK lockdown.
UK Drive: The Fiat Panda hybrid is a good city car, but flawed elsewhere
What is it? There’s always that one relative, which while you love them dearly, always outstays their welcome at Christmas. The automotive equivalent of that relation is the Fiat Panda – a model that continues to plod on with minimal changes (it hasn’t had one major update since its introduction in 2011), yet buyers continue to fall for its charm. Not least in Italy, where it continues to be their best-selling car, and by a significant margin.
Retailers warn pandemic will accelerate job losses
Around 13,000 jobs and turnover worth £3.48 billion were lost in the retail sector during the five years before the pandemic, industry experts have said.
Fresh wave of job losses expected in next few months, researchers say
More than 900,000 small firms are at risk of going out of business in the next few months, threatening a fresh wave of job losses, new research suggests.
London stocks and sterling slip on dire economic data
The London markets and sterling stumbled on the back of a slew of poor economic data and caution over the potential for harsher travel restrictions across Europe.