Day: June 20, 2020

What does the future of the UK office look like?

It is an interesting time in the UK business world with more people than ever working from home due to the pandemic but now an easing of the lockdown, meaning that businesses now have an important decision to make.

The general consensus seems to be that working from home has been successful in most industries and many companies were already using remote working prior to the pandemic, so what does this mean for UK offices?

Benefits of Remote Work

There are clear benefits to people working from home from both an employee and business standpoint. For employees, it provides a greater work-life balance, there is no commute which can be stressful and expensive and people can often work better from home. This is also beneficial from a business standpoint, plus businesses can make huge savings by having a remote workforce as it lowers utility bills and eliminates the need to

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AllSaints asks landlords for rent cut to avoid going bust

AllSaints is asking its landlords to slash the rent bill on its 41 UK stores as the upmarket fashion brand tries to avoid going into administration.

The retailer has embarked on an insolvency process known as a company voluntary arrangement (CVA) to force its landlords to agree a switch from fixed monthly rents to a turnover model, whereby rents are pegged to a store’s actual sales.

The AllSaints chief executive, Peter Wood, said the business had been growing strongly in the UK and in overseas markets until the coronavirus crisis forced the closure of its stores. The lockdown had a “substantial and sudden impact” on sales, he said.

“We have taken this step in order to ensure the long-term viability of AllSaints in the face of the unprecedented impact that Covid-19 has had on our business,” explained Wood of two separate CVAs, one for the UK chain and the other

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ASX finishes flat after turbulent week

The Australian share market has finished flat, fading in the afternoon after being up as much as 1.2 per cent after government data showed retail sales rebounded in May.

 The benchmark S&P/ASX200 index finished up 6.1 points, or 0.1 per cent, to 5,942.6 points, while the All Ordinaries index gained 15 points, or 0.25 per cent, at 6,066.9.

The Australian dollar was buying 68.59 US cents, down from 68.72 US cents at the close of trade on Thursday.

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Thorpe, Bloomberg News Toronto bureau chief, retires

Jacqueline Thorpe

Jacqueline Thorpe, Toronto bureau chief for Bloomberg News, retired Friday.

She had been Toronto bureau chief since February 2012. She also spent some time in Mumbai on a job swatch.

“Thanks to all I’ve pestered for interviews over the years,” wrote Thorpe on Twitter.

Before Bloomberg, Thorpe was deputy managing editor of the Financial Post. She was also economics and markets editor, a columnist and a reporter at the Financial Post, which she joined in August 1998. She wrote a weekly column called the “Big Picture” on major economic trends in Canada and around the world. She also reported on economic indicators, currencies, central bank and government fiscal policy, stock markets, bond markets and trade..

 

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