AUS
NZ
UK
CA
USA
IND
Monday – August 23
- Shaftesbury Plc (LON: SHB)
Shaftesbury is placing all bets on the return-of-office workers to boost the valuation of its West End portfolio. According to the company, valuations declined by a tenth or £291 million over the last six months to March 2021 as rent deferrals took a toll on the company’s business. Shaftesbury that owns 16 acres in Chinatown, Covent Garden, and Soho, expects office workers to return to Central London in larger numbers starting next month. According to the Centre for Cities report, London is behind other regions and recorded a footfall of only 15 per cent of normal levels in July-end. Shoppers have begun returning to the West End, and property retailers have registered improved trade, especially on weekends. According to Shaftesbury, weekly footfall was in the range of 50 per cent to 60 per cent of the pre-pandemic figures. The leisure and hospitality tenants accounted for about 40 per cent of the footfall driven by strong recovery in outdoor dining trends in the Camden and Westminster council areas.
Tuesday – August 24
- Clipper Logistics Plc (LON: CLG)
Acceleration in online shopping during the pandemic aided the retail logistics giant’s Clipper Logistics surge in sales for the past year. The company registered a 39.1% year-on-year growth in revenues to £696.2 million for the year ended 30 April 2021. It increased its workforce by nearly 2,000 to 10,000 during the year to meet the increased demand. The significant change in the market scenario represents an acceleration in the company’s e-fulfilment segment, which currently represents 70% of its logistics revenue. The firm also announced new contracts with JD Sports, Revolution Beauty, and H&M during the year. The group’s profits before taxes rose to £21.7 million for the year compared to £16.2 million in the previous year.
Wednesday – August 25
3. PayPal Inc (NASDAQ:PYPL) (LON:0R9U)
PayPal users in the UK will now be able to purchase and sell bitcoin cash, bitcoin, Litecoin, and Ethereum through PayPal’s fintech platform. This is the company’s first international expansion of its cryptocurrency feature that was first rolled out in October 2020 and was only available in the US until now. PayPal's crypto features include the decentralized currency’s popular forms that enable users to view real-time crypto valuations and obtain other related educational content. Both in the US and UK, PayPal collaborated with Paxos Trust Company, a digital currency business, to facilitate crypto buying.
Thursday – August 26
- Greggs Plc (LON: GRG)
Greggs Plc, a bakery and fast-food chain in the UK, announced that the supply chain disruptions impacted the company’s food business. The company business was hit by truck driver shortages that hampered the supply of some ingredients, thus affecting the availability of items. In the past, Greggs faced challenges associated with the shortage of its popular chicken products. Retailers, restaurants and cafes in the UK are struggling to cope with the staff shortage, particularly drivers of heavy goods vehicles (HGV) and food processing staff post-COVID-19.
Friday – August 27
5. Barclays Plc (LON: BARC)
Barclays announced the $3.8 billion purchase of a credit card portfolio co-branded with The Gap Inc. through its American arm. The move is in line with the bank’s strategy to collaborate with big brands to expand in the US market. As per the terms of the deal, Gap customers would be issued with a Barclays and Gap co-branded credit card in 2022. The move comes at a time when banks across the globe are focusing on the expansion of their fee-earning businesses, such as credit cards, amid low central bank rates that have squeezed profits margins from their lending businesses. The company also announced the purchase of Synchrony Bank’s portfolio, slated for completion in Q2 2022.
