From Breakingviews: Britain’s retail recovery looks patchy, and Chinese investors in Western companies just can’t catch a break. Catch up with the latest financial insights
People wear protective masks as they walk along Oxford Street, amid the coronavirus disease outbreak in London, Britain, June 29, 2020.SELECTIVE RELIEF. Britain’s retail recovery looks patchy at best. Data released on Friday showed June sales rose to within 0.6% of February’s level, beating analysts’ expectations, as shoppers appeared to return in force after a three-month lockdown period. Stripping out fuel, sales were actually higher than before the pandemic hit.
UNIVERSITY CHALLENGED. John Fallon may have ended his Pearson career in the red. The education group’s embattled chief executive is due to step down once a successor has been found. In the meantime, though, he presided over a difficult first half when the $5 billion group’s businesses were buffeted by Covid-19. Underlying revenue fell 17% to 1.5 billion pounds, dragging the company to an underlying operating loss of 23 million pounds.
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