Category Archives: Business

Does the European Super League break the rules of sporting economics?

W e’re told the motivation for the formation of a “European Super League” is greed. But is it also free market economics? The proponents of the breakaway league, and their financial backers, are clearly confident it would generate significantly larger broadcasting and sponsorship revenues than the current arrangements. Why? Because the new format – with […]

Primark owner to pay back £121m in furlough cash despite falling sales

Primark‘s owner has pledged to hand back £121m claimed under the furlough scheme despite announcing plunging profits as stores remained closed for much of the autumn and winter season. Associated British Foods (ABF), which owns Primark as well as grocery brands including Twinings tea and Ryvita, reported a 50 per cent fall in operating profits […]

House prices are on fire and Rishi Sunak is pouring petrol on them

T he government’s back in the business of underwriting mortgages, in a move that sees Rishi Sunak using a taxpayer-funded helicopter to spray petrol on to the house price wildfire currently burning.  The market was running hot before this latest intervention, which sees the state underwriting  95 per cent mortgages for homes worth up to […]

Homeworkers did nearly twice as much unpaid overtime as those who never worked from home, says ONS

People who worked from home in 2020 worked around six hours of unpaid overtime each week on average, nearly double the amount of unpaid overtime done by those who never worked from home, according to the Office for National Statistics (ONS). In its latest analysis of Britain’s home working situation, the ONS found that people […]

Top HSBC executives to hot desk after losing private offices

Senior managers in HSBC’s headquarters will have to hot desk on an open-plan floor instead of occupying private offices, the banking giant’s chief executive, Noel Quinn, has confirmed. Mr Quinn told the Financial Times that the move is part of HSBC’s cost-cutting plans to shrink its office space by 40 per cent in the aftermath […]

FTSE 100 closes above 7,000 for first time in 14 months, Sensex crashes over 1,000 points

London’s FTSE 100 closed last week above 7,000, a landmark it reached for the first time in over a year since the pandemic hit. The FTSE 250 has erased all its pandemic losses, hitting another record high on Friday. The blue-chip FTSE 100 index has now recovered up to 40 per cent from its lowest […]