As Environment Secretary George Eustice tells Britons to holiday at home, we’re day-tripping with difficulty. Passengers on a cruise ship touring the UK won’t be allowed to disembark in Scotland. British Airways and Ryanair are in trouble with the competition regulator for refusing to refund customers who couldn’t fly due to lockdowns. As Andrew Lloyd Webber says he will risk arrest to reopen his London theatres on 21 June, one in five landlords fear their pubs won’t survive the next three months. With a 9% jump in Chinese inflation stoking domestic fears, the FTSE All-Share is going down today.
CHALLENGING THE OLD ORDER
Upper Crust caterer SSP has plunged to a £300m interim loss and some other things aren’t quite right with the establishment as Biden flies to London on an eight-day European excursion. The City of London is pushing for exemption from the global tax deal, Oxford’s Magdalen College is to remove the Queen‘s portrait and President Macron has been slapped in the face on a walkabout in France. COVID-19 has seen Auckland usurp Vienna as the world’s most liveable city. In the US, the real estate market is experiencing a ‘great reshuffling’. After helping Americans pocket profits of $4bn last year, bitcoin’s price is barrelling into a ‘death cross’. As Jeff Bezos prepares to go into space, Reddit users are asking why Amazon doesn’t have a key person insurance policy.
MAKING A MINT
Fortunes are still being realised at home, with Stanley Gibbons paying $8.3m for the world’s most valuable stamp, US fintech firm Marqeta’s IPO valuing it at $15bn and Relativity Space raising $650m for a bigger 3D-printed rocket. Princess Diana’s Ford Escort is yours for £40,000. Barcelona street sellers are taking on Nike with own-branded trainers. With people presumably having saved more for hip ops in lockdown, Smith & Nephew is being tipped to outperform. Edison managing director Rob Murphy comments in the Evening Standard on the buy-to-let-boom firing up Paragon Banking Group’s profits. Sign up here for Edison’s Open House on the future of transport.
This woman in California has recovered her lost wallet with a Grateful Dead concert ticket inside after 46 years. And here’s a list of phrases including ‘codswallop’ and being a ‘few sandwiches short of a picnic’ that will confuse anyone who didn’t grow up in Britain.