Takeover bid hit Christmas early in London

While Covid-19 lockdown is going on there is a boom in London’s takeovers  as  a £7bn bid for insurance giant RSA  was followed by  deals in property, food and tech sectors, which drove  up shares in Aviva and Hiscox. Wellcome Trust’s investment arm snapped up property group  Urban and Civic  for £506m and Mr Kipling…

Post-furlough job losses worse among young and ethnic minorities

Resolution Foundation’s latest survey of 6, 000 adults found 19 per cent of 18-24-year-olds who were furloughed during lockdown were unemployed in September. For Black, Asian, and other minority ethnic workers the figure was 22 per cent compared to 9 per cent for the general population. The Treasury said its wage support schemes had helped…

The UK is officially into recession

The UK economy suffered its worst and biggest slump on record between April and June due to coronavirus lockdown measures, shrinking as much as 20.4 per cent compared with the first three months of the year. The UK is officially into recession. Household spending plunged as shops were ordered to close, while factory and construction…

A gripping tale of one of the most lucrative crimes in history

  The Avery’s most lasting legacy was the inadvertent triggering of a new model for the global economy. Henry Every was the seventeenth century’s most notorious pirate as the British government offered enormous bounties for his capture alive or preferably dead. Every’s most lasting legacy was the inadvertent triggering of a major shift in the…

Rishi Sunak extends the furlough scheme until October

Chancellor Rishi Sunak announced the UK furlough scheme to pay wages of workers on leave because of coronavirus has been extended to October. He further said the government-backed workers and companies going into the lockdown, and would support them coming out and confirmed that employees will continue to receive 80 per cent of their monthly…

Self-employed rescue scheme

The Chancellor Rishi Sunak will today announce a package of support for Britain’s 5m self-employed people to help them through the coronavirus pandemic after Boris Johnson decreed they should have “parity of support” with employed counterparts. The self-employed would submit forms to HM Revenue & Customs, the tax authority, declaring their recent income, if there…