Mood – clearing the decks

Published on 02-03-2021 14:49:19

As China’s top banking regulator warns of a foreign markets bubble, getting rid of old baggage on national Old Stuff Day is allowing us to reassess the future. With nearly half of finance firms moving jobs to the EU following Brexit, Rishi Sunak is planning a Budget ‘big bang’ to lure tech giants to London. Renishaw’s founders are selling up in their 80s after engineering a £4.1bn market value, while Travis Perkins is dusting off plans to demerge Wickes. Volvo is going all-electric from 2030, Danone is splitting its top job and eBay is to sell Gumtree in Britain to assuage competition worries.

 

USHERING IN THE NEW

There are plenty of exciting new adventures to make room for. Revenues have tripled at video calling sensation Zoom and doubled at gambling group Flutter, while housebuilder Taylor Wimpey is reinstating its dividend. African entertainment start-ups have enjoyed their best ever year. As hedge fund billionaire Sir Chris Hohn pays himself nearly £1m a day, ‘buy now, pay later’ lender Klarna has been valued at $31bn. A 24-year-old ‘smart cookie’ is reopening the world’s oldest sweet shop and this is apparently the world’s priciest chocolate bar. In Japan, unused flight meals are being repurposed as bento boxes. Actor Seth Rogen is launching his own cannabis brand.

 

DEALING WITH THE HERE AND NOW

Some issues simply have to be dealt with. Fashion group Boohoo faces a possible US import ban after ‘slave labour’ allegations. A top Nike executive whose son used her credit card to buy sneakers for his business has resigned after 25 years. As we puzzle the meaning of the US retail stock trading frenzy, Edison US president Rachel Carroll gives her view in today’s Wall Street Journal. And nobody knows what to make of an iceberg the size of New York breaking off Antarctica.

 

HERDING ANIMAL INSTINCTS

Humans aren’t letting life stand still in the animal kingdom, with the number of dangerous wild animals, including lions, tigers, rattlesnakes and crocodiles, kept legally as exotic pets in Britain increasing by 59% to nearly 4,000. We’ve also rescued thousands of turtles from the Texas cold snap but Australia is running out of cows.

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