Coronavirus safety measures risk ‘immeasurable damage’ to economy, says travel boss June 18, 2020 The economy faces “immeasurable” damage if the government veers too far towards medical safety measures to to protect agains the coronavirus pandemic, according to the boss of travel industry association ABTA. Speaking on City A.M’s The City View podcast this morning, Mark Tanzer gave a grim assessment of the problems facing Britain’s travel industry. He [...]
Sadiq Khan urges PM to make face masks compulsory in shops as well as public transport June 18, 2020 Sadiq Khan has urged the government to force people to wear face masks in shops and other confined public spaces. The mayor of London wrote to Prime Minister Boris Johnson this morning, calling for an extension to the rule which requires people to wear face masks on public transport. He said: “With lockdown easing, it’s [...]
Taylor Wimpey takes a punt on £500m land buying splurge June 18, 2020 Housebuilder Taylor Wimpey has raised £522m from investors to help it buy up land which has been made cheaper by the coronavirus pandemic. The FTSE 250 company raised funds from both new and existing shareholders in a share placing, where shares were bought at 145p each. This represented a four per cent discount on yesterday’s [...]
Superdry pulls out of mainland China store venture with expected £6m write off June 18, 2020 Superdry has announced it will take back control of its branded franchise stores in China, effectively pulling its business out of the country for now at a £6m writedown. The clothing retailer said it has reached “an amicable agreement” with local partner Trendy International to exit their joint venture, leaving Superdry “free to determine how [...]
Exclusive: Westminster denies firms business rates relief for empty offices during lockdown June 17, 2020 Central London companies whose staff abandoned offices to work remotely during the coronavirus lockdown have been refused business rates relief, City A.M. can reveal. Westminster City Council has refused to grant the relief to office-based businesses such as accountants, law firms, and consultancies despite their workspaces remaining empty over the period. The move has sparked [...]
New boss for Hugo Boss as fashion house drafts in former Tommy Hilfiger CEO June 17, 2020 Hugo Boss has announced that former Tommy Hilfiger chief Daniel Grieder will be its new chief executive. Grieder, 58, will take up the post in June next year, after a decades-long career at Tommy Hilfiger. It comes after outgoing CEO Mark Langer announced that he was stepping down in March. Langer will leave post at [...]
French President Emmanuel Macron to get Red Arrows flypast on UK visit June 17, 2020 Emmanuel Macron, the French President, will be welcomed to London tomorrow with a flypast of the Red Arrows. Macron visits the UK tomorrow, marking 80 years since Second World War French resistance leader Charles de Gaulle made a historic broadcast to occupied France from British shores. The Red Arrows, the RAF’s iconic aerobatics unit, will [...]
Berkeley Group profits fall by a third after coronavirus lockdown June 17, 2020 Berkeley Group, the housebuilder, has pushed back a £455m payout to shareholders by two years because of the coronavirus pandemic. The FTSE 100 company saw sales fall dramatically over April and May, pushing its full-year profit and revenue down more than one-third each. However, shares in the company rose 3.6 per cent this morning as [...]
Lockdown takes a slice out of Domino’s Pizza profits June 17, 2020 Domino’s Pizza has forecast that the cost of measures introduced during the coronavirus lockdown will push down profit for the first half of the year, despite an increase in people ordering in over the period. The company said the costs stemmed from halting two-person deliveries, keeping stores closed during restocking, contact-free delivery boxes, and issuing [...]
B&Q-owner Kingfisher bounces back after initial lockdown hit June 17, 2020 B&Q-owner Kingfisher has reported more than one-fifth rise in second quarter profit, as its stores in the UK and Europe emerged from coronavirus lockdowns. The home improvement group said on Wednesday that underlying sales grew 21.8 per cent year-on-year in the three months to June 13, as customers took on more DIY projects than before [...]
