TfL ask for more time to look at “very complex” Whitehall funding arrangement July 27, 2022 TRANSPORT for London chiefs have asked for more time to look at the detail of a long-term funding deal from central government. Late last Friday evening the Department for Transport sent the body a proposal which would bring to an end a series of temporary bailouts and fraught negotiations, but TfL commissioner Andy Byford yesterday [...]
Letters: Grocers, get ahead of the game July 26, 2022 [Re: Jubilee weekend boom fails to lift June’s retail sector, July 22] Given the difficult winter ahead, it is unsurprising the latest ONS retail data showed that many are choosing to spend less. However, the rise in food sales tells a slightly different tale. Driven by the Queen’s Platinum Jubilee, it speaks to the ability [...]
Business rates: Thousands of businesses go bust whilst waiting for rebates July 25, 2022 Thousands of business sites have foundered in while waiting for rebates over property taxes, according to new data. Research by real estate advisory firm Altus Group has showed that 3,165 business premises, including offices, factories, shops, pubs and restaurants, entered insolvency whilst they were awaiting the result of a business rates challenge. Business rates are [...]
Week ahead: Banks to report amid high inflation and interest rate fears July 25, 2022 Customer behaviour and cost control are set to be top of the in-tray for the major banks as they update investors over the next week. Barclays, Lloyds and NatWest are all set to update the markets in a bumper week for the sector. Although priorities will vary slightly, there will be significant focus on whether [...]
Office attendance continues to climb – and it helps if you’ve got a Pret nearby July 25, 2022 Office attendance is up by a third compared to January, new data from workplace provider IWG shows. The group also said its data contained evidence that having a branch of Pret a Manger nearby might boost attendance at work. The group said that there had been major hikes in visits to its office and co-working [...]
Travel chaos: Two in five airport workers have considered quitting July 25, 2022 More than two in five airport workers are considering leaving the industry, new research suggests. A survey of 1,700 workers by jobs site CV-Library found reasons for wanting to quit included wanting better pay and less stress. Only 5% of respondents blamed the current situation at UK airports, where there have been long delays in [...]
Last orders: Inflation and interest rates force thousands of restaurants to close July 25, 2022 The number of restaurant insolvencies has increased sharply in the past year amid staff shortages and rising inflation, according to a new study. Accountancy firm UHY Hacker said the total jumped from 856 in 2020/21 to 1,406 in the past year. Peter Kubik, of UHY Hacker Young, said restaurants are facing spiralling inflation, decreased consumer [...]
SNP under fire for £5 deal with steel tycoon Sanjeev Gupta July 25, 2022 Scottish ministers are facing transparency calls after it was revealed a metal tycoon under investigation for fraud paid just £5 towards the acquisition of a Highlands smelting plant – with taxpayers financing the rest of the £330 million deal. Entrepreneur Sanjeev Gupta, chief executive of Liberty Steel, acquired the aluminium plant and two adjacent hydro [...]
Letters: Food threats are heating up July 22, 2022 [Re: Innovation can save our food system from climate threats, 21 July] Extreme heat, droughts and floods were all mentioned in an IPCC report earlier this year as threats to food production. This week’s heatwave is yet another reminder. With the challenges posed by climate change only intensifying, we face a very real issue of [...]
Heatwave investigation: Is it hot enough to fry an egg off the ground in the City? July 19, 2022 Almost a decade ago, the reflection of the sun off the Walkie Talkie – otherwise known as the Fenchurch Building – was hot enough to melt a Jaguar and fry an egg. That was due to the reflection off the skyscraper, effectively turning the entire building into a magnifying glass. The building was soon fixed, [...]
