moneymarkets

Unions slam British Gas-owner’s ‘fire and rehire’plan: 20,000 staff told to accept new working conditions or risk losing their jobs By Francesca Washtell For The Daily Mail Published: 21:51 BST, 16 July 2020 | Updated: 21:51 BST, 16 July 2020 Centrica could demand 20,000 staff accept new working conditions or risk losing their jobs. The … Read more

With lockdown hiring freezes, furlough schemes and almost all travel scuppered, investors were braced for recruitment group Hays to have a difficult quarter. The coronavirus pandemic has created ‘conditions far harsher than any I have known’, Hays chief executive Alistair Cox said. Net fee income – the industry’s version of gross profit – fell by … Read more

Government on track to raise £530bn debt this year as cost of the pandemic spirals By Daily Mail City & Finance Reporter Published: 21:51 BST, 16 July 2020 | Updated: 21:51 BST, 16 July 2020 The Debt Management Office said it plans to sell Government bonds, or gilts, worth £385bn, between April and November The … Read more

Former Wirecard chief Markus Braun took a secret £32m personal loan from the firm’s banking arm By Daily Mail City & Finance Reporter Published: 21:50 BST, 16 July 2020 | Updated: 21:50 BST, 16 July 2020 Wirecard’s former boss borrowed nearly £32million from the German payments giant just months before its dramatic collapse, it has … Read more

Canary Wharf owner lodges plans for a huge office development despite the rise in working from home By Daily Mail City & Finance Reporter Published: 21:50 BST, 16 July 2020 | Updated: 21:50 BST, 16 July 2020 The owner of Canary Wharf in London has lodged plans for a huge office development. Canary Wharf Group … Read more

National debt set to hit nearly £3TRILLION by the next general election as cost of pandemic spirals By Hugo Duncan for the Daily Mail Published: 21:51 BST, 15 July 2020 | Updated: 21:51 BST, 15 July 2020 The national debt could be pushing towards £3trillion by the time of the next general election as the … Read more

Asos probes supply chain: Boss raises concerns over sweatshops as online fashion giant reports 10% lockdown sales boost By Tom Witherow For The Daily Mail Published: 21:50 BST, 15 July 2020 | Updated: 21:50 BST, 15 July 2020 Sweatshop fears: Asos reported a 10% rise in sales during lockdown Asos is reviewing its operations in Leicester … Read more

Asos has confirmed it plans to repay the Government the money it saved by furloughing around 1,000 staff via the Job Retention Scheme as the pandemic hit.  In a trading update, Asos said: ‘As a result of our expectation that we will deliver a better than initially anticipated full-year performance, we are repaying the support … Read more

Budget defecit may top £400bn this year as the cost of the pandemic spirals By Daily Mail City & Finance Reporter Published: 23:27 BST, 14 July 2020 | Updated: 23:27 BST, 14 July 2020 Government borrowing could top £660billion over the next two years as the cost of the pandemic spirals. In its latest update, … Read more

Ocado profits double in the last six months as pandemic pushes families online to get their groceries By Tom Witherow For The Daily Mail Published: 23:27 BST, 14 July 2020 | Updated: 23:27 BST, 14 July 2020 Ocado raked in half-year sales of £1billion for the first time ever as founder Tim Steiner declared ‘the … Read more