Corporates are rediscovering how to make money, with PageGroup’s gross profits soaring by 31% in March and Levi’s profits topping expectations. Boohoo is creating 500 new jobs, while plant-burger group Impossible Foods is eyeing a $10bn US float and Bollinger has made its first vineyard acquisition outside France. New Edison client Doctor Care Anywhere Group generated triple-digit percentage revenue growth last year. The FTSE All-Share has added more than 200 points this week. Uber-wealthy pockets continue to be lined, with Britain’s billionaire cohort growing by 30% during the pandemic. In the US, the rich aren’t spending money, with just 500 New York City households set to pay the highest rate of the state’s new ‘millionaire tax’.
SEEING DIMINISHING RETURNS
Some bad tidings are surfacing. Frasers Group is warning of a £200m hit from an ‘inevitable’ third COVID-19 wave. Johnson & Johnson’s CEO faces a revolt over his pay. Gold has suffered its biggest quarterly drop for four years. Mrs World has been arrested after grabbing Mrs Sri Lanka’s crown and 16 of Britain’s top 20 garden birds have declined in number over the last year.
BECOMING TOO PRECIOUS
This giant lizard made quite a mess searching supermarket shelves in Thailand and this hapless couple created a splash when they decided to contribute to a piece of living art.