Hospitality braces for £100m in lost sales ahead of biggest day of strikes in over a decade January 30, 2023 Retail and hospitality figures have described strike action set to take place on Wednesday as “damaging” to the sector and “entirely avoidable”. Kate Nicholls, chief executive of UKHospitality told City A.M. she estimates union strikes this week will set the sector back a further £100m in lost sales, with “much of that impact being felt [...]
Caffe Nero shrugs off inflation as Brits’ coffee habits drive sales of £150m January 30, 2023 Caffe Nero generated UK sales of £150m for the first half of the financial year, averaging 104 per cent of pre-pandemic levels and an increase of 17 per cent for the same period in 2021. The coffee chain added Deliveroo and Just Eat to its delivery partner service last year, which it said helped secure [...]
London asking rents hit record high with fierce competition set to persist into 2023 January 27, 2023 Average asking rents in London have hit a record £2,480 per month amid fierce competition for properties in the capital, according to property website Rightmove. The average asking rent in London jumped 15 per cent annually to reach £2,480 at the end of last year, while asking rents in inner London climbed even higher to [...]
Exclusive: London beats New York to be crowned best city for female entrepreneurs – but concerns raised over tech deficit January 26, 2023 London has overtaken New York and San Fransisco as the best city in the world for female entrepreneurs after startups grew at a “colossal” rate during the pandemic, City A.M. can exclusively reveal. The 2023 Women Entrepreneur Cities (WE Cities) Index, compiled with Dell Women’s Entrepreneur Network (DWEN), showed the capital ranked top against 55 [...]
Almost 300 jobs at risk at Asda and 4,100 staff face pay cut January 26, 2023 Asda has unveiled a major shake-up of store operations, which will put close to 300 roles at risk and reduce pay for more than 4,000 night workers. The supermarket chain has proposed that some overnight restocking shifts at 184 stores are moved to the daytime, putting 211 night shift manager roles at risk. It said the [...]
Have You Heard About The Rise Of Job Boomeranging? January 23, 2023 The term relates to the concept of a former employee bouncing back to a company they once worked for, but left for pastures new.
How to get a foot on the property ladder in London – and you don’t need to skip avocado on toast if you don’t want to January 21, 2023 Buying your first home is a dwindling dream for many young Londoners; a dream not helped by commentators who blame millenial’s spending habits for their inability to put together a deposit o five per cent or more of the property’s value. A Netflix subscription or an ‘overconsumption’ of avocado on toast, or even the odd [...]
Fears of future global travel chaos grow as pilots consider leaving due to poor pay January 19, 2023 Fears of future travel disruption could soon become a reality as pilots consider leaving the profession due to poor pay. Research published today by aviation recruitment firm Goose shows that 53 per cent of world pilots haven’t had a pay increase in over five years, while a third said they actually sustained a pay cut. [...]
Fintech Pensionbee buzzes towards profits after reporting boost in savers January 19, 2023 London-listed fintech PensionBee has doubled down on its prediction of profits this year after reporting a boost in customers and revenues in 2022.
Lloydspharmacy to axe outlets within Sainsbury’s supermarkets January 19, 2023 Lloydspharmacy has said it will pull out of its 237 pharmacy sites within Sainsbury’s supermarkets. The pharmacy chain said it has cut the services following a strategic review “in response to changing market conditions”. Lloydspharmacy added that it is “exploring options” for each branch individual and will confirm exact closure plans on a “branch-by-branch” basis [...]
