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Investment group launches £50m fund to back SMEs across the UK
Business
Sky News
Google fined £427m in fight with French news publishers
Google has been fined £427m (€500m) by the French competition regulator as part of a fight between the tech giant and news publishers.The regulator has threatened to impose additional penalties of £769,000 (€900,000) per day if Google doesn’t produce proposals within the next two months to compensate news publishers. The action comes amid global concern …
Business
Evening Standard
Hotel Chocolat ups profit forecasts and reveals plans for 250 jobs as sales soar
Hotel Chocolat bosses have upped profit forecasts as the AIM-listed chain sees sales soar despite lockdowns. The gifting go-to chocolate maker said in a trading update that in the year to June 27 it saw revenues up 21% on the prior year to £165 million, with sales since non-essential retail stores reopened in mid-April up …
Business
Sky News
Warning issued over financial sector’s reliance on cloud computing
The Bank of England has sounded a warning about the financial sector’s increasing reliance on cloud data providers – big tech firms who operate online servers.In its latest survey of the state of the financial system, the Bank warned that with Britain’s banks moving more and more of their administration and accounts online into the …
Business
Sky News
Bank of England removes bank dividend curbs as outlook improves
The Bank of England has done away with limits on bank dividends that were introduced during the pandemic, claiming that its stress test shows that banks are in a good position to handle any future turbulence caused by COVID-19.At the start of the pandemic, the central bank said, markets were severely disrupted, and threatened to …
Business
Evening Standard
FTSE 100 set to fall despite news of booming retail sales
The FTSE 100 was set to open up slightly down today as the weeks-long tussle between bulls and bears over the easing of Covid restrictions continues apace.After yesterday’s see-saw session that saw London shares fall in the morning and rise in the afternoon, few were committing big wagers before the opening. Futures markets indicated a …
Business
Sky News
Retail sales enjoy best quarterly growth in more than a quarter of a century
Sunshine, football and pent-up shopping demand have helped retailers enjoy their strongest quarter of growth for more than two decades, figures show.Sales for the April-June period were 10.4% ahead of the same month in 2019 – with 2020 performance stripped out of comparisons because of the closure of shops during lockdowns. It was the strongest …
Business
Sky News
Businesses face ‘confusing and contradictory advice’ about reopening
Firms are facing “confusing and contradictory advice” from the government about how to operate as the economy enters the final stage of reopening, it has been claimed.Business groups broadly welcomed confirmation that social distancing rules will be removed and venues such as nightclubs allowed to resume trading as England’s lockdown rules are eased further next …
Business
Evening Standard
Rothermere plans to end Daily Mail’s 90 years on the stock market with buyout deal
LORD Rothermere is mulling a deal to end the Daily Mail & General Trust media group’s 90 years on the stock market by buying out its other shareholders.The owner of the Mail, Mail Online and i newspapers traces its history back to 1896, when Harold Harmsworth, the 1st Viscount Rothermere, and his brother Alfred launched …
Business
Evening Standard
DMGT shareholder have little choice but to accept the Rothermere offer
IT HAS long been speculated that Viscount Rothermere has wanted to take his media group private, and now is as good a time as any to do it.For years, DMGT has been selling off its highly-rated tech and dataarms such as Euromoney and returning the cash to shareholders. As that happens, the Rothermeres’ stake in …
Business
Sky News
Virgin Galactic value falls back to Earth despite successful flight – as share sale plan revealed
Sir Richard Branson’s Virgin Galactic saw more than $1bn wiped off its value the day after it completed a successful crewed test flight – as it revealed plans to sell up to $500m in shares.The New York-listed company had been trading sharply higher in pre-market deals following Sunday’s trip – with billionaire founder Sir Richard …
Business
Sky News
Brussels puts digital sales tax plan on ice after US pressure
The European Union has paused plans for an online sales tax that would have affected US tech giants such as Amazon.Brussels is putting the plans on ice following pressure from Washington – and after the G20 club of the world’s largest economies endorsed a separate overhaul of corporation tax. Plans for the digital tax had …

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