By: Felix Armstrong

Retail Reporter Felix Armstrong is City AM's retail reporter, covering retail, hospitality and property news. He has previously written for The Times, The Guardian, The Telegraph and The i Paper. Email Felix at Felix.Armstrong@cityam.com

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German backers of Olympia redevelopment add new £500m investment

March 31, 2026

The German investors behind the redevelopment of Kensington’s Olympia exhibition centre have committed an additional £500m as the consortium refinances the project. Deutsche Bank AG will hand a £900m loan to the consortium behind the project, which includes German pension fund Bayerische Versorgungskammer and insurer Versorgungskammer Bayern. The project is one of London’s biggest regeneration [...]
Reeves summons supermarket bosses again after snub

March 31, 2026

Rachel Reeves has summoned supermarket bosses for a Downing Street meeting on Wednesday after being snubbed last week. The new meeting will be attended by executives at Sainsbury’s and Tesco but bosses at Asda, Aldi and John Lewis will miss out, supposedly due to diary clashes. The Chancellor hastily invited grocery executives to a meeting [...]
Unilever freezes hiring as Iran war poses ‘significant challenges’

March 31, 2026

FTSE 100 giant Unilever has placed a global freeze on hiring for at least three months as the Iran war wreaks havoc on global supply chains and fuel prices. The London-based business, which owns Dove soap and Hellman’s mayonnaise, told staff the ban on hiring will affect “all levels” of recruitment and was taken in [...]
House prices pick up but property outlook remains ‘clouded’

March 31, 2026

House prices picked up in March as the property market gained traction after a slow start to the year, though experts warn the Iran war could “cloud” this momentum. The UK’s house prices rose by 2.2 per cent year on year in March, up from one per cent growth in the year to February, as [...]
Shop prices creep up as retailers brace for Iran war supply chain disruption

March 31, 2026

Shop price inflation edged up in March as cost rises related to the Iran war began to take effect. The cost of shop items increased by 1.2 per cent year on year in March, up from 1.1 per cent in February, according to data compiled by NIQ for the British Retail Consortium (BRC). The BRC [...]
London developers call for emergency measures in office space squeeze

March 30, 2026

The capital’s largest developers have called on the government to introduce emergency measures to solve London’s office space crisis, which risks “constraining” growth. London Property Alliance (LPA) is urging the government to designate offices as critical economic infrastructure to address dwindling supply and boost economic growth. The LPA represents the capital’s largest property developers and [...]
White van men ‘bleeding cash’ in Iran war diesel chaos

March 30, 2026

The country’s fleet of tradesmen are “bleeding cash,” with the Iran war’s fuel chaos pushing the price difference between petrol and diesel to its widest level in decades. A litre of diesel cost 179.9p on Sunday on average – up more than 35p since the Iran war started and 25p higher than petrol, according to [...]
Mortgage approvals bounce back after two-year low

March 30, 2026

Mortgage approvals have bounced back after slumping to a two-year low last month, suggesting the property market was regaining momentum before the Iran war shocked global markets. The number of approved mortgages for house purchases increased to 62,600 in February, up from the two-year low of 60,200 in January, according to the Bank of England. [...]
Debenhams shares jump as turnaround gains pace

March 30, 2026

Shares in Debenhams bounced on Monday as the fashion giant reported better-than-expected performance as it said it is making “significant progress” on its turnaround. Debenhams Group, which was renamed from Boohoo last year, said its underlying earnings grew by 76 per cent in the last six months after the retailer slashed costs and revamped its [...]
Housebuying demand falls as Iran war spikes mortgage rates

March 30, 2026

Housebuying demand has fallen as Brits take a “wait and see” approach after the Iran war spiked mortgage rates and prompted lenders to take hundreds of deals off the market. Buyer enquiries were 13 per cent lower in March than a year ago, as mortgage rates climbed by an average of 0.4 per cent over [...]

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By: Felix Armstrong

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