Retailers struggle to rack in sales in June as shoppers continue to scale back July 7, 2023 Retailers continued to show signs of struggling in June, new figures show, as sales growth remained well below inflation due to customers scaling back their shopping habits due to the cost of living crisis. Total like-for-like sales in June grew 1.9 per cent from last year’s base of 8.4 per cent, according to figures from [...]
Government has no idea what it is trying to achieve with ‘floundering’ HS2 Euston project, MPs warn July 7, 2023 MPs have slammed the government’s handling of a “floundering” HS2 Euston project this morning, amid mounting criticism over the scheme’s soaring costs and ongoing delays. In a highly critical report, the Public Accounts Committee (PAC) called on the Department for Transport (DfT) to “finally establish” its plans for the station against what it is willing [...]
Gatwick submits £2.2bn expansion plan as CEO hails airport competition July 6, 2023 Gatwick Airport has submitted an application for a £2.2bn second runway that could see passenger traffic double to 75 million. The west Sussex hub announced this afternoon that it had presented proposals to the government’s planning inspectorate, which aim to bring its emergency runway into routine use. Speaking to City A.M. ahead of the news, [...]
Legal talent war rages on as Baker McKenzie ups newly-qualified salaries to £118k July 6, 2023 Global law firm Baker McKenzie will increase the salary it gives to newly-qualified (NQ) London solicitors to a cool £118,000. The Chicago-based firm said effective as of 1 July, newly-minted lawyers will get a bump up from £110,000 a year. Last July, Baker McKenzie upped pay for NQs by £5,000. While many industries have been [...]
We are not rip-off retailers, says Sainsbury’s July 6, 2023 Bosses at Sainsbury’s have said they are “not rip-off retailer” or “profiteers” as they defended the profit made by the retailer amid scrutiny related to food inflation over the past year. The company also defended increased pay packages for its senior executives at its annual general meeting in London, despite the continued cost-of-living crisis. It [...]
STV buys Greenbird Media for £21.4m and gains hit series in growth push July 6, 2023 STV has acquired Greenbird Media, an unscripted television production network, for £24.1m today in a “transformative” drive for greater growth across the UK and globally. The Scottish broadcaster, which has brought popular dramas like Antiques Road Trip, Celebrity Catchphrase and Blue Lights to UK television screens, is bolstering its STV Studios production division with the [...]
Square Mile booming as return to office and pub ramps up footfall July 6, 2023 The near one thousand pubs and businesses across London’s Square Mile have been boosted by an uptick in footfall across the region in recent months, as punters return to the office and enjoy after work drinks. Tuesday to Thursday footfall, the most popular days in which workers travel in the office, is back to over 80 [...]
Bitcoin price stabilises as BlackRock CEO labels crypto as ‘revolutionary’ July 6, 2023 Bitcoin remains steady around $30,130 this morning, largely flat in the last 24 hours, while Ethereum's Ether was tracking a similar line.
Young’s: Pub chain shrugs off inflation as London acquisitions spur revenue bump July 6, 2023 Young & Co’s Brewery provided a cheery update to investors this morning as the pub operator revealed a 8.3 per cent lift in revenues in the first thirteen weeks of the year. The 220-strong pub chain said it was boosted by a string of acquisitions it made last year in London and the wider UK, [...]
Recruiter Robert Walters hit by continued volatility in tech and finance sectors July 6, 2023 Profit at Robert Walters remained subdued in the second quarter as the recruitment firm struggled with global market uncertainty. In the three months to June, gross profit across the group fell 11 per cent to £99.9m compared to the year before. It said the second quarter of last year was a “record” quarter. Toby Fowlston, [...]