End of the road for London’s largest African restaurant as Camden Town favourite Shaka Zulu shuts down December 19, 2022 The management of one of London’s best-known restaurant, Shaka Zulu, confirmed to City A.M. this morning that the establishment will close in the next few weeks. After more than 12 years in businesses, building a loyal clientele comprising of Londoners, business diners and tourists, London’s largest South African restaurant said “it is with great sadness [...]
London economy contracts as rampant inflation chills spending December 12, 2022 London’s economy contracted last month as it is squeezed by roaring inflation and swelling business costs, a new survey out today shows. Rampant price rises prompting a spending slowdown from consumers sent a chill through businesses in November, according to NatWest’s purchasing managers’ index (PMI). The high street bank’s PMI dropped to a 22-month low [...]
London’s best independent restaurants, bars and cafes, chosen by some of the city’s top creative minds December 6, 2022 In London it’s often the biggest venues with the most expensive PR operations that catch the headlines, but it’s the small, independent bars and restaurants that make the fabric of the city. The Amex Shop Small initiative has launched The Little Blue Book of Sharing”, an initiative that profiles British creatives to find out the [...]
Searcys boss: London venues set for ‘real reality check’ in the new year with spending slowdown warnings December 5, 2022 London restaurants face a “real reality check” come January and February, as consumers will pull back from dining out after Christmas, the boss of champagne bar chain Searcys has warned. Diners will “want to batten down the hatches” next year after enjoying their first Christmas free of Covid measures in three years, with the cost [...]
Legal sector talent war drives boom in London office market December 5, 2022 Britain’s top law firms are driving a surge in demand for City office buildings in their efforts to win over talent and meet their ESG goals. Law firms have taken up a record 1.5m square foot of office space in 2022, following a series of big deals involving Britain’s top firms, data from Knight Frank [...]
Strike chaos: TSSA announces more railway staff will walk out ahead of Christmas December 3, 2022 Thousands more railway station staff are set to walk out this month, as union bosses and ministers held talks at Parliament yesterday. The TSSA union served notice for strike action in a further six train operating companies and Network Rail yesterday, meaning thousands more workers will walk out on 17 December. This takes the number [...]
Major City report sheds light on ‘class ceiling’ blighting financial services November 30, 2022 A major City report into social mobility has called to “break the ‘class’ ceiling” and get more people from non-professional backgrounds in boardrooms. The industry must “act now” to make the workforce more socio-economically diverse, with a lofty goal of at least half senior leaders in financial and professional services being from that background by [...]
London businesses sweat over looming recession and sticky inflation November 30, 2022 London businesses are sweating over the coming recession and sticky inflation, but they are still among the most confident in the UK, a new survey out today reveals. Optimism among the capital’s firms slumped 27 points over the last month to 22 per cent, one of the biggest falls on record, according to Lloyds Bank’s [...]
Exclusive: Business rates hike a ‘ticking time bomb’ for London economy, Mayor warns November 29, 2022 Thousands of squeezed London businesses are now facing a “ticking time bomb” in the form of coming tax hikes, London Mayor Sadiq Khan has warned. Khan revealed to City A.M. last night that business rates will increase in 28 of the capital’s 32 boroughs in 2023, just as the UK is predicted to go into [...]
Exclusive: London beats European cities to continental tech crown November 22, 2022 London is the most technologically advanced city in Europe, beating Paris, Frankfurt and Madrid, exclusive research shared with City A.M. unveils. The capital’s capacity for world class innovation drove it to the top of the continental rankings in Z/Yen’s sixth smart cities index. New York topped the global rankings, again. The Square Mile’s banks, brokers [...]