The first 100 days: What the new mayor of London needs to do to hit the ground running May 6, 2016 By the time today’s edition of City A.M. hits the streets, Londoners will have voted for their new mayor. With no overnight count, we are in a tantalising no-man’s land between the polling stations closing and the results being announced. By any measure the mayor’s in-tray is going to be full. From housing to transport, new [...]
Does blaming slower growth on the EU referendum just mask deeper problems with the UK economy? May 6, 2016 James Sproule, chief economist at the Institute of Directors, says Yes. Economic data seem to suggest that UK businesses and consumers alike are holding back on long-term commitments as they are worried about the EU referendum. Quite possibly, but this is only part of the story. Economic slowdown is not just affecting the UK, it seems [...]
Ryanair boss Michael O’Leary urges Britain to vote Remain May 6, 2016 Ryanair chief executive Michael O'Leary has urged Britons to vote Remain in the upcoming EU referendum, telling voters they have been "sold a lie" about what will happen after the election. Speaking on BBC's Question Time, O'Leary told his audience: "You should stay." He issued a stark warning to voters: "You're being sold a lie [...]
British consumers rate origin of products at same level as price, research from Nielsen says May 6, 2016 Six-in-ten British consumers cited a brand’s country of origin as one of the most important factors in making a purchase choice. Where a product comes from is as important to consumers, on average, as factors such as its range, price, function and quality, according to Nielsen’s new Global Brand-Origin Survey. The research looks into whether [...]
Retailers rocked by sales shocker May 6, 2016 The high street has suffered its sharpest drop in sales since the credit crunch as retailers battle erratic weather, increasing competition from online rivals and jittery consumer confidence. Like-for-like sales fell by 6.1 per cent in April compared with the same month last year, according to BDO’s latest monthly tracker, published this morning. The accountancy [...]
Application fraud rates up by 20 per cent as current accounts and credit cards get hit May 6, 2016 Rates of financial application fraud have continued to climb in 2016, pushed on by credit card and current account scams. Current account fraud again topped Experian’s fraud index charts for fraudulent applications at a rate of 126 in every 10,000 applications, compared to 81 in 10,000 over the same period a year ago. Credit card fraud [...]
Canary Wharf boss says London could be overtaken by EU cities within years if Brexit happens May 6, 2016 Canary Wharf property boss Sir George Iacobescu has said London would be overtaken by other key European cities within five years if Britain leaves the European Union. "There is nothing you have here in London that is not replicable," Iacobescu said at the City Property Association's EU referendum debate last night. "Whether it is Frankfurt [...]
London votes: London awaits results of mayoral and Greater London Authority elections May 5, 2016 Counting got under way in London’s mayoral and Greater London Authority elections last night – although results are unlikely to be announced until late this afternoon or this evening. The last opinion polls were forecasting a win for Labour’s Sadiq Khan over his Tory rival Zac Goldsmith in the mayoral race – in what is [...]
News Corp posts third quarter revenue fall as profits were hit by one-off charge and continuing lower advertising sales May 5, 2016 Global media behemoth News Corp posted a revenue fall in its third quarter results on Thursday, as profits were hit by a one-off charge and low print advertising sales continued to decline. The figures The owner of The Sun, The Times and the Wall Street Journal said its revenues had declined 7.3 per cent to $1.89bn (£1.3bn) in [...]
Polls have now closed in the London mayor elections, Sadiq Khan thought to be in the lead over Zac Goldsmith May 5, 2016 Polls have now closed in the London mayoral, London assembly and regional elections throughout the UK. Poll stations across the capital closed at 10pm after opening for voting at 7am this morning. Thousands of voters in Barnet were turned away from polling stations earlier due to incomplete lists, which has led to speculation that the [...]