England high streets could lose 400,000 jobs post Covid-19: study
"According to KPMG analysis, high streets could lose between 20-40 percent of their retail offerings... This could see over 400,000 job losses on the high street."
AFP
UPDATED ON JAN 14, 2021 05:10 PM IST
Main shopping streets in England's towns and cities could lose another 400,000-plus jobs after coronavirus passes, as Britons continue to work from home and buy online, accountants KPMG said Thursday.
Covid-19 has already ravaged the UK retail sector, with tens of thousands of jobs being lost and big-name bankruptcies, although supermarkets have boomed.
"The reduction in commuter footfall (and) the accelerated shift to online shopping is exacerbating the vacuum in city and town centres, with less people calling in to shop," said the KPMG study of 109 towns and cities.
"According to KPMG analysis, high streets could lose between 20-40 percent of their retail offerings... This could see over 400,000 job losses on the high street."
KPMG UK chief economist Yael Selfin said consumers were more likely to purchase household goods online in the wake of the pandemic.
"It has also made working from home acceptable and online gatherings... freeing endless hours of business travel and expense for better use."
World’s economic recovery delayed by slow vaccine rollouts
Bloomberg
PUBLISHED ON JAN 24, 2021 11:06 PM IST
The World Bank already this month trimmed its prediction to 4% in 2021 and the International Monetary Fund will this week update its own outlook.
Canada's Trans Mountain pipeline sees fortunes shine after Keystone XL's demise
Reuters, Winnipeg/ottawa
PUBLISHED ON JAN 24, 2021 06:22 PM IST
Trans Mountain Corp, a government corporation, is spending CAD 12.6 billion (USD 9.9 billion) to nearly triple capacity to 890,000 barrels per day (bpd), a 14% increase from current total Canadian capacity.
World’s economic recovery gets delayed by slow vaccine rollouts
Bloomberg
PUBLISHED ON JAN 24, 2021 06:12 PM IST
- Double-dip recessions are now expected in Japan, the euro area and UK as restrictions to curb the virus’s spread are enforced. Record cases in the US are dragging on retail spending and hiring, prompting President Joe Biden’s new administration to seek an extra $1.9 trillion fiscal stimulus.
India sees 19 IPOs worth USD 1.84 billion in 2020 December quarter
PTI, New Delhi
PUBLISHED ON JAN 24, 2021 06:01 PM IST
Leading consultancy EY's India IPO Trends Report: Q4 2020 showed that there were a total of 10 Initial Public Offers (IPOs) in the main market and 9 in the SME (Small and Medium Enterprises) segment.
FM allocates ₹660 crore additional funds to MP for citizen-centric reforms
PTI, New Delhi
PUBLISHED ON JAN 24, 2021 03:44 PM IST
"Fifty per cent of the approved amount has also been released to the state as first installment for the approved projects," the finance ministry said in a statement.
NIIF makes equity investment of less than ₹5,000 cr in 5 yrs
PTI, New Delhi
PUBLISHED ON JAN 24, 2021 02:30 PM IST
- According to sources, NIIF has made an equity investment of ₹4,689 crore, while the co-investment by its partners stood at about ₹7,053 crore at the end of September 2020. The quasi-sovereign wealth fund's total equity investment along with partners stood at ₹11,742 crore as of September 2020.
Stove Kraft IPO to open tomorrow: What you need to know
By hindustantimes.com | Written by Meenakshi Ray, New Delhi
PUBLISHED ON JAN 24, 2021 02:27 PM IST
Stove Kraft has fixed a price band of ₹384-385 a share for its initial public offer and it is expected to fetch ₹412.62 crore at the upper end of the price band.
Leaders of Covid-19 vaccine rollout deliver world-beating market gains
Bloomberg
PUBLISHED ON JAN 24, 2021 01:10 PM IST
Traders are rushing to price the global vaccine rollout and betting nations at the forefront will be the fastest to recover from the crisis, lifting their stocks, currencies and bond yields.
Diamond trade is roaring back thanks to stuck-at-home shoppers
Bloomberg
PUBLISHED ON JAN 24, 2021 01:02 PM IST
The boom is being driven by bumper holiday jewelry sales, particularly in the vital US and Chinese markets.
FPIs remain net buyers at ₹18,456 crore in January so far
PTI
PUBLISHED ON JAN 24, 2021 12:25 PM IST
According to depositories data, overseas investors pumped in ₹24,469 crore into equities but pulled out ₹6,013 crore from the bonds market between January 1-22.
Mcap of 4 of top-10 valued firms jumps over ₹1.15 lakh crore; RIL biggest
PTI
PUBLISHED ON JAN 24, 2021 11:08 AM IST
The valuation of Reliance Industries Limited jumped ₹71,033.44 crore to reach ₹12,99,363.47 crore, becoming the biggest gainer.
Markets may remain volatile in holiday-shortened week: Analysts
PTI
PUBLISHED ON JAN 24, 2021 11:03 AM IST
Among major earnings to focus on this week are from UCO Bank, Axis Bank, Bank of Baroda, Canara Bank, Hindustan Unilever Limited, Lupin, Maruti Suzuki India and Tata Motors.
Mukesh Ambani is world’s 11th richest billionaire. Check who else is on the list
By hindustantimes.com | Edited by Kanishka Sarkar, Hindustan Times, New Delhi
PUBLISHED ON JAN 24, 2021 07:27 AM IST
Mukesh Ambani's bet on consumer services -- telecom and retail -- seems to be paying off despite the pandemic
Fee waiver, road tax discount key features of Centre’s draft scrappage policy
By HT Correspondent, New Delhi
PUBLISHED ON JAN 24, 2021 05:17 AM IST
Features of the draft policy, one of whose caveats is that the vehicles that are sent to the scrapyard must be dismantled in an environment friendly way, were discussed by the ministry at the 40th meeting of the transport development council chaired by Union transport minister Nitin Gadkari on Tuesday.
UK PM Boris Johnson presses US Prez Joe Biden for new trade deal
AP, Washington
PUBLISHED ON JAN 24, 2021 05:01 AM IST
The push for a new deal came in a broad-ranging call between the two leaders that touched on the global response to the coronavirus pandemic as well as the Biden administration announcing this week that the U.S. would rejoin the Paris climate accord and the World Health Organization, according to a statement from Downing Street.