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UK car sector seeks breather from Sunak in Budget 2021
February 26, 2021 07:25 AM GMT| By Team Kalkine Mediay’s concerns are not met, it might miss on its environment goals as well. Car output in January for Britain dropped by 27 per cent year-on-year hit by dealership closures, global supply chain disruptions and change in trading terms wi...
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Goldman Sachs Boss Wants Staff to Return to Office Life
February 26, 2021 06:15 AM GMT| By AbhijeetSource: Freedomz, Shutterstock Summary Goldman Sachs top boss David Solomon has called remote working an aberration. Footsie-listed HSBC and Lloyds Banking Group are expected to cut office spaces to capitalise on remote working culture Ca...
What is Aston Martin’s Profitability Roadmap After Posting Sharp Losses?
February 25, 2021 02:54 PM GMT| By Suhita PoddarSource: Evannovostro, Shutterstock Summary Luxury carmaker Aston Martin reported a sharp increase in losses of almost £466 million in FY 2020, from £119.6 million the previous year. It also reported a drop in retail sales of 32 per...
Can the cruise business revive from Covid-19 debilitating blow?
February 25, 2021 08:50 AM GMT| By Team Kalkine MediaSource: Denis Belitsky, Shutterstock Summary Carnival Plc (LON: CCL) announced halting of operations from its US ports through 31 May. Customers can choose between a complete refund of cruise credit for later travel. Disney Cruise L...
Why has FAA ordered inspection of Boeing 777 with Pratt & Whitney engines
February 24, 2021 09:18 AM GMT| By Team Kalkine MediaSource: Shutterstock Summary Federal Aviation Administration (FAA) has ordered inspection of all Boeing 777 planes. All Boeing 777 planes powered by Pratt & Whitney engines to be inspected. Order comes days after a Uni...
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Why Have Holiday Bookings Suddenly Surged?
February 24, 2021 06:46 AM GMT| By Team Kalkine Mediabookings; Greece, Spain, Turkey are the most favoured destinations. PM Boris Johnson’s announcement of the exit plan from lockdown led to a spike in holiday bookings. Johnson announced on Monday that the international travel ban might be l...
EV maker Lucid Motors plans to go public via SPAC merger
February 23, 2021 11:14 AM GMT| By Team Kalkine MediaSummary US-based electric car company Lucid Motors announced plans to merge with special-purpose acquisition company (SPAC) Churchill Capital IV Corporation to become a publicly listed entity. The deal values the car company at USD $24 billion,.....
What’s behind Jay-Z’s 50% Armand de Brignac stake sale to LVMH?
February 23, 2021 09:41 AM GMT| By Team Kalkine Mediagnac is expected to benefit from LVMH’s distribution network. Luxury goods maker LVMH Moët Hennessy Louis Vuitton SE (LON:0HAU) has bought 50 percent stake in champagne brand Armand de Brignac, owned by Jay-Z. LVMH’s partnership...
How British Airways Is Planning to Overcome Its Liquidity Issues
February 22, 2021 03:37 PM GMT| By Team Kalkine MediaSource: Shutterstock Summary British Airways gets total financial aid £2.45 billion to tide over the Covid-induced crisis It received a loan facility of £2 billion from the UK Export Development Guarantee The airline company has als...
Travel Industry seeks government’s support for relief
February 22, 2021 02:09 PM GMT| By Team Kalkine MediaThe UK travel industry has urged the government to provide tailored financial support to the struggling sector by chalking out a roadmap to recovery. In a letter to the government, the companies and operators have come...
Successful Vaccination Drive and Wetherspoon’s Call for UK Pubs Reopening
February 20, 2021 04:14 AM GMT| By Kunal SawhneySummary The FTSE 250-listed pub chain has called upon the UK government to allow pubs to resume operations. Pubs and breweries were last on the priority list of the government during initial lockdowns. The pubs and breweries sector are amo.....
What synergies Future Plc has achieved through the acquisition of GoCo and Mozo?
February 19, 2021 03:27 PM GMT| By Kunal SawhneySummary Future Plc had reported a revenue surge of 53% during FY20 ended on 30 September 2020. FUTR had a net debt of £62.1 million as of 30 September 2020. FUTR had completed the acquisition of Mozo for approximately AUD$30 million.....
Why London's tech sector recruitment jumped to over pre-Covid levels
February 19, 2021 11:06 AM GMT| By Kunal SawhneySummary UK-based recruitment company Hays Plc reported that London’s technology sector recruitment has risen above pre-pandemic levels. The UK government expects recent surge in technology company listings to drive th.....
Did a slump in travel insurance impact the FY20 profitability of Moneysupermarket.com Group?
February 18, 2021 03:04 PM GMT| By Kunal SawhneySummary Moneysupermarket.com Group Plc had reported a decline of 11.0% in its Group revenue during FY20 ended on 31 December 2020. MONY had a net cash position of £23.6 million as of 31 December 2020. The revenue per active user remained.....
How Google’s new deal with Murdoch's News Corporation can change online media
February 18, 2021 11:28 AM GMT| By Kunal SawhneySummary Tech giant Google announced a landmark 3-year deal with Rupert Murdoch's News Corp for content sharing on its platform for a significant payment. The agreement includes News Corp media brands.....
Why Nestle is planning to sell its US water brands for $4.3 bn
February 17, 2021 10:06 AM GMT| By Team Kalkine MediaSummary Nestle SA announced it will sell its US and Canada region bottled water division to private equity companies One Rock Capital Partners and Metropoulos & Co for US $4.3 billi.....
How Jaguar Is Planning to Overhaul Its Business and Go Electric
February 16, 2021 03:43 PM GMT| By Hina ChowdharySummary British luxury car brand Jaguar Land Rover's announced its plans to phase out diesel fuelled cars by 2026 amid rising competition from other car companies to go green. The company plans to invest about £2.5 billion annually into d.....
Brexit impact on British airlines: Are more job losses on cards?
February 15, 2021 12:00 PM GMT| By Kunal SawhneySummary New post-Brexit rules have created regulatory delays and bottlenecks for UK carriers operating in the EU leading to loss of business. Wet-leasing carriers lost out on several contracts due to the new rules, with smaller airlines facing .....
Why has Jet2 raised £422-mn via share placement?
February 13, 2021 10:16 AM GMT| By Hina ChowdharySummary UK airline Jet2 PLC raised £422 million (US $582 million) on 12 February through an equity issue to remain sufficiently liquid to cover lockdown-related uncertainties. Th.....
How has Redrow managed to exceed £1.0 billion sales during its first half of FY21?
February 10, 2021 04:15 PM GMT| By Kunal SawhneySummary Redrow Plc had reported an increase in revenue of 20% to £1,041 million during H1 FY21 ended on 27 December 2020. The legal completions grew by 20.0% during H1 FY21. RDW had unsecured banking facilities of £366.0 million as.....
