Bulletin of Industry
After it was announced that Scotland would return to the strictest lockdown measures, business leaders called for more help to promote the economy.
As this next step of the crisis unfolds, Andrew McRae, the Federation of Small Businesses (FSB) chairman for Scotland, warned of “more heartbreak” for smaller companies. The FSB calls for immediate action, saying that assistance should no longer be “a dollar short and a day late.”
We need to see business help matching the size and pace of these limitations,”We need to see support for business match the scale and pace of these constraints,” “Help for the Scottish economy can no longer be a dollar too little and a day too late.
The influx of new support services announced late last year, for starters, must begin to make money for businesses. So far, few of the projects have even charged a penny.
“Then ministers urgently need to look at new ways of getting money to the local firms that have borne the brunt of the crisis.”
“Nicola Sturgeon puts Scotland back in lockdown “keep at home
His remarks came after First Minister Nicola Sturgeon introduced strict new legislation to take effect at midnight, forcing, with a few exceptions, Scots by law to remain in their homes until the end of January. Similarly, until at least early next month, schools will remain closed.
Tracy Black, Director of CBI Scotland, said that companies will continue to help parents who need to balance work and home education, but added that the current national closure is a “severe setback” for companies looking to compensate for 2020 losses.
“It is now urgent that existing financial support is unlocked to help businesses survive the spring and beyond, and that Holyrood clarifies what an essential business is,” she said.
The “forgotten companies” in Scotland desperately need coronavirus grants
“Ultimately, the best way to end this damaging cycle of restrictions and redouble efforts to protect people’s lives and livelihoods is through effective vaccine rollout and widespread mass testing.”
Liz Cameron, chief executive of the Scottish Chambers of Commerce, said that companies “fully understand the need for action in response to rising infection rates. However, we cannot ignore the direct impact on business and livelihoods.”
“The welcome news that the Oxford vaccine has started to be rolled out today is a reminder that there is hope, and we need to focus all our efforts and resilience on 2021,” she said.
“What is equally important is that the Scottish government also takes action that will provide a springboard for private sector recovery when this latest round of restrictions is lifted. Support for businesses that have already been through so much and survived 2020 must be extended and all cash support paid out urgently.”
$11 billion takeover bet rejected by Ladbrokes
Entain, the owner of Ladbrokes, said that the US casino operator MGM Resorts’ $11 billion (£8.1 billion) takeover offer greatly underestimates its business as companies look to capitalize on an imminent boom in sports betting in the United States.
Since the Supreme Court struck down a ban on sports betting in 2018, the U.S. is widely seen as the next major growth market. American businesses have been pursuing deals to tap into European expertise, including the £ 2.9 billion offer for UK-based William Hill by Caesars Entertainment in September.
Online sales rose by a third in three months at Flutter, owner of Betfair and Paddy Power,
When casinos and betting shops were off-limits, online betting also received another boost as Covid 19 limitations allowed imprisoned clients to gamble more from home.
Since 2018, when they set up an online betting site in the USA, MGM and U.K.-based Entain, formerly known as GVC, have had a joint venture.
Stocks in London start 2021 with gains
In the first trading session of the new year, London stocks closed higher, guided by optimism about vaccine releases, while a rise in metal prices boosted the export-heavy FTSE 100 index.
On its first day of trading, the blue-chip index rose after