Shanghai is shut: China’s biggest city and beating heart of Asian economy goes into fresh Covid lockdown March 28, 2022 Authorities in China are currently locking down its largest city, Shanghai, as part of its strict Covid-19 strategy, amid questions over the policy’s economic toll on the country. Shanghai’s Pudong financial district and nearby areas will be locked down until Friday as citywide mass testing gets underway, the local government said. In the second phase [...]
Number of Covid patients in hospital in Scotland reaches highest total ever March 21, 2022 The number of people in hospital with coronavirus in Scotland has reached its highest total ever since the start of the pandemic, with the latest figures showing 2,128 patients in hospital with the virus. In response to the figures, people should “top up” their Covid-19 jabs when called by the NHS, the Health Secretary has [...]
Retail and construction insolvencies soar against backdrop of supply chain pressures and war in Ukraine March 15, 2022 Soaring material costs have led to a steep rise in insolvencies in the retail and construction industries of almost 50 per cent. The war in Ukraine and its impact on rising fuel prices, brought concerns over supply chains pressures into sharp focus this week, new research from tax and audit specialists Mazars has shown. During [...]
UK removes all travel measures from Friday March 14, 2022 All remaining COVID travel measures, including the Passenger Locator Form and tests for arrivals, will end on Friday, the transport secretary has said.
Automation and decarbonisation could further deepen poverty in London March 14, 2022 Increasing automation and a move to a greener economy could further deepen inequality in the capital post-pandemic. The gap between’s London’s poorest and richest widened during coronavirus, with people claiming unemployment benefit substantially above the national average. As companies seek to recoup lost profits from the pandemic, many are turning to automation of roles, thanks [...]
Last orders: Restaurant insolvencies spike as economic pressure bites March 13, 2022 Restaurant insolvencies jumped 20 per cent, according to the latest data published from accountancy group UHY Hacker Young It revealed that insolvencies rose to 354 in the last quarter of 2021, – up from 296 in the previous three-month window. UHY Hacker Young argues that despite the end of coronavirus restrictions, the sector will continue [...]
Rental market now ‘in full swing’ after strong recovery from pandemic low March 11, 2022 The rental market has returned to “full swing” from the pandemic low as stock levels fell dramatically from this time last year. With all Covid restrictions lifted, tenants are once again looking for a place to call home, with just 64,839 rental properties listed across these 21 major UK cities, according to numbers shared by [...]
London a £106bn key driver of surging global online sales in wake of pandemic March 10, 2022 London was at the forefront of soaring global online shopping, with record-breaking investment in the capital last year. As the world emerged from the pandemic, retailers took in more than $140bn (£106bn) from web-based sales in 2021 – more than double the previous year. Following numerous lockdowns which led to a spike in virtual shopping, [...]
HMRC owes construction workers close to £1.5bn following pandemic property boom March 8, 2022 Almost £1.5bn is owed to Britain’s construction workers by the taxman following the pandemic property boom, according to new data shared with City A.M. today. It is estimated that more than 1m people working in the sector could be owed a tax refund, after the industry “weathered a particularly fierce storm” to keep Britain building [...]
Hundreds of civil servant roles moved to Manchester as government pushes ‘levelling up’ mission February 14, 2022 The government announced this afternoon it will be opening a culture hub in Manchester, adding up to 400 jobs as part of its "levelling up" programme.