The FTSE opened in positive territory this Friday morning as UK retail sales rose above pre-pandemic levels in July. According to The Office for National Statistics volumes rose by 3.6% between June and July. With clothing sales gaining last month and people spending more money on petrol.
The UK’s public debt has breached £2tn for the first time ever amid a Covid spending binge. This is largely due to the governments desperation to keep the nation afloat and unemployment down during the lockdown.
One person that benefited from these government schemes was billionaire Mike Ashley - who is now being urged by MPs and campaigners to hand back millions of furlough cash to taxpayers after his retail empire predicted a surge in sales.
Staying with retail Burberry PLC (LON:BRBY) has launched its first branded coronavirus facemask. But the designer new masks cost £90 each and are available in the company’s famous check design.
ITV PLC (LON:ITV) is gaining following the news of two investments The broadcaster's investing £9.6mln into its BritBox Australia as well as £1mln for a minority shareholding in Cognitive Logic Incorporation.