Next pulls out of race to buy Topshop-brands
Category: Business News (UK)
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“The Cabinet Office have issued clear guidance, available at www.gov.uk/transition, and we encourage all businesses to follow that guidance.”
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Coronavirus: How the pandemic has changed the world economy
*:not([hidden]):not(style) ~ *:not([hidden]):not(style){margin-top:1rem;}]]>By Lora Jones, Daniele Palumbo & David Brown BBC News *:not([hidden]):not(style) ~ *:not([hidden]):not(style){margin-left:0.5rem;}]]> *:not([hidden]):not(style) ~ *:not([hidden]):not(style){margin-top:1rem;}]]>The coronavirus pandemic has reached almost every country in the world.Its spread has left national economies and businesses counting the costs, as governments struggle with new lockdown measures to tackle the spread of the virus. Despite the development of new vaccines, many are still wondering what recovery could look like. Here is a selection of charts and maps to help …
ASOS emerges as surprise frontrunner to clinch TopShop crown
ASOS, the online fashion retailer, has emerged as the surprise frontrunner to buy TopShop from the administrators to Sir Philip Green’s former high street empire.Sky News has learnt that ASOS has moved into pole position to buy the brand for more than £250m, days after a consortium led by Next withdrew from the race.
If successful, it may renew fears for the future of most of TopShop’s workforce, given ASOS’s status as a pure-play digital retailer.ASOS is not holding any talks about buying TopShop stores, according to insiders, although it is also keen to acquire Arcadia’s Miss …
East West and Northumberland rail lines get £794m boost
There are plans for new stations at at Ashington, Bedlington, Blyth, Bebside, Newsham, Seaton Delaval, and Northumberland Park, in North Tyneside, as well as upgrades to the track and changes to level crossings where new bridges or underpasses were needed, the Department for Transport said.
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Cladding crisis: ‘Delays could bankrupt us’
Campaigners say a government fund to pay for the removal of dangerous cladding is woefully inadequate.
London Stock Exchange chief hatches £300m ‘war bonds’ plan
The London Stock Exchange is hatching plans to create a £300m listed vehicle aimed at bolstering the survival chances of companies hit hard by the coronavirus pandemic.Sky News has learnt that David Schwimmer, the London Stock Exchange Group (LSEG) chief executive, has been spearheading talks with top City figures and the Treasury about establishing an investment trust called the UK Growth and Resilience Fund.
The scheme, which would principally invest in unquoted companies, is said to have been under discussion for months.A fund management source said this weekend that BMO Financial Group, JP Morgan Asset Management and Octopus …
France vows Eurostar support to ‘maintain this strategic link’ with UK
French authorities have said they are ready to give financial support to the struggling Eurostar.The country’s junior transport minister, Jean-Baptiste Djebbari, told a parliamentary hearing in Paris he was talking with the UK government about ensuring the cross-Channel train operator survives the coronavirus pandemic.
He said the French state would be “at Eurostar’s side in order to maintain this strategic link between our two countries”.
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Passenger numbers have plummeted since the pandemic began
Support will be given “based on our involvement in Eurostar, so that we can financially sustain its business model”, he added.Eurostar is 55% owned by …
