Lockdown savings push UK house price growth boom December 8, 2021 The UK and US housing markets have surged past other economies’ thanks to buyers being able to amass savings in lockdown. Prices increased by 9.4 per cent on average across the 56 countries and territories tracked by the index, according to Knight Frank’s global house prices index. The majority (96 per cent) of the 56 [...]
Shoppers eye discount brands as increasing costs of essentials bite December 8, 2021 Shoppers are eyeing cheaper prices at discount supermarkets amid increases in the cost of living. Brands to focus on affordable prices have made market share gains over the past 12 weeks, according to fresh data from Kantar. Lidl hit a new record market share of 6.4per cent, while Aldi gained 0.2 percentage points to move [...]
Consumer spending anxiety on the up as households look to cut back before Christmas December 8, 2021 Brits are growing increasingly anxious about the rising cost of living and are dining out less and shopping in cheaper stores. With food and energy bills on the up, more than one in three are nervous they will be unable to pay for essentials, according to a survey of 2,000 UK adults. Almost half of [...]
Asda workers join supermarket strike action threats December 7, 2021 Asda workers have joined Tesco staff in threatening staff action over pay, with both supermarkets anxious to mitigate disruption for shoppers ahead of Christmas. Union GMB is balloting Asda workers over a potential strike after it described the supermarket as “not taking workers seriously” over pay despite “rampant” inflation. The ballot closes on 20 December, [...]
Central bank of Norway acquires stake in fast fashion firm Boohoo December 7, 2021 The central bank of Norway has acquired a 3.1 per cent stake in fast fashion retailer Boohoo, according to documents filed on the London Stock Exchange. Norges Bank is now the fifth largest institutional investor in the online retailer, following confirmation of the investment this week. Boohoo co-founder Mahmud Kamani is still the largest single [...]
West End laments government Covid messaging as footfall falls flat December 7, 2021 The West End has bemoaned government messaging on Covid as it reported no uptick in footfall last week. New West End Company, which represents 600 brands in the area, said yesterday footfall was still down 30 per cent on pre-pandemic levels. Flat footfall was blamed on “the impact of Government messaging around Omicron,” and tube [...]
Thousands of Tesco distribution workers to strike before Christmas as unions warn of empty shelves December 6, 2021 Thousands of disgruntled Tesco distribution workers across the country are to strike in the run-up to Christmas. Up to 5,000 Tesco workers in the Union of Shop, Distributive and Allied Workers (Usdaw) could take part in industrial action while some 1,200 workers in union Unite are also preparing to strike. Members of both unions are [...]
Sainsbury’s tells staff to delay Christmas parties until next year as UK Omicron cases top 300 December 6, 2021 Sainsbury’s staff have been asked to delay their Christmas get-togethers until next year amid fears of staff shortages. The request came following the return of mask rules to shops and public transport networks last week, following the arrival of new coronavirus variant Omicron in the UK. “We have asked all of our teams to postpone [...]
West End landlord points to new signings as proof of post-lockdown recovery December 6, 2021 West End landlord Shaftesbury has signed over 60 new retail and leisure brands since October 2020, in a vote of confidence for central London’s post-lockdown recovery Bosses said this interest highlights the speed of the West End’s recovery following the lifting of pandemic restrictions. Some 33 retail brands including American Eagle and Aerie have set [...]
Prime central London price growth to surpass rest of UK as ‘US executives back in town’ December 6, 2021 Prime central London is forecast to surpass the rest of the country on price increases next year, as buyers look once more to Kensington and Chelsea. Property sales in lucrative parts of the city will rebound after being hit hard by the pandemic, as international buyers return, according to estate agent Winkworth. Winkworth chief executive [...]
