Associated British Foods Plc, the owner of fast-fashion retailer Primark, has called for an extended post-lockdown shopping hour to recover Covid losses. George Weston, the chief executive of Associated British Foods (ABF), said the shops should be allowed to open for some extra hours on Sundays and evenings till Christmas. Primark, the high street retailer which does not have an online presence, has lost around £2 billion in sales due to the pandemic and is expected to lose another £375 million in the second lockdown.
Amigo Holdings Plc not to offer fresh loans until next year Amigo Holdings Plc, the largest provider of guarantor loans in the UK, has decided not to offer any new loans until next year. The subprime lender which had put a brake on new lending after the coronavirus outbreak had received 25,571 customer complaints related to different issues. Financial regulator, the Financial Conduct Authority had asked the firm to deal with them within eight weeks, i.e. by 30 October.
* Octopus Energy acquires Upside Energy UK’s tech unicorn Octopus Energy has acquired Upside Energy in a bid to establish the base of its new technology innovation center. The company is establishing a tech hub in Manchester and has announced its intention to create 1,000 jobs across four sites in the UK while revealing its plans for the ‘Silicon Valley of energy’.