By: Helen Cahill

I report on retail and property for City A.M. I have covered the investigation into BHS and London's housing crisis. You can email me on helen.cahill@cityam.com with tips or commentary.

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The Cambridge Satchel Company may be forced to close stores due to business rates

March 10, 2017

The Cambridge Satchel Company may have to close two out of six of its stores when business rates rise this year. The high-end bag business has boutique outlets in the West End, Cambridge, Brighton and Edinburgh, but a hike in property taxes for the company, which comes into effect at the beginning of April, may force [...]
MPs urged to leave parliament before a “catastrophic failure” occurs

March 10, 2017

A Commons committee has urged MPs to vacate the Palace of Westminster for renovations because "doing nothing is not an option" and there is a "risk of catastrophic failure" if the building remains occupied. The Public Accounts Committee (PAC) has recommended that MPs leave the historic building for six years while essential repairs, which could cost [...]
Here are the best London commuter towns – with house prices you can actually afford

March 10, 2017

London life is not for everyone; it's noisy, the houses are too expensive and the pints aren't cheap either. So if you're looking to get away from it all, but you don't want to give up your City job, where is the ideal place to settle down? Read more: This is what the Budget had [...]
Government hands over £2.5bn to businesses in quiet U-turn over business rates

March 10, 2017

The government has performed a screeching U-turn over new reforms to the business rates system by dropping unpopular proposals for the rates appeals’ process. The proposed appeals regulations would have denied businesses £2.5bn worth of rebates over the next five years, according to estimates by ratings specialists CVS. On Wednesday, communities secretary Sajid Javid quietly met with ratings [...]
Lord Stuart Rose says Sir Philip Green should not be stripped of knighthood

March 9, 2017

Lord Stuart Rose, former boss of Marks & Spencer, has defended his frenemy Sir Philip Green, saying the ex-BHS boss should not be stripped of his knighthood. Rose and Green famously shouted at each other on the street in 2004 when Green's attempt to snap-up Marks & Spencer failed. But, at a retail conference today, Rose [...]
Tesco returns nearly £10m to 140,000 employees after payroll error

March 9, 2017

The UK's biggest supermarket will return nearly £10m to 140,000 current and former staff after discovering a payroll error that meant they did not receive the national minimum wage. Tesco said the payments will be up to £40 for each of the employees affected, and that they will be handing out the payments by the end [...]
John Lewis increases profits as it battles tough market conditions

March 9, 2017

The John Lewis Partnership announced a profit rise today – but warned of a tough year ahead due to rising costs and structural changes in the retail industry. The figures For the year ending 28 January, the Partnership's profit before the bonus, tax and exceptional items, was up 21.2 per cent to £370.4m. This was [...]
John Lewis has slashed its staff bonus to six per cent

March 9, 2017

The John Lewis Partnership has slashed its staff bonus in the face of an "uncertain market" in the year ahead. The bonus, one of the key perks for John Lewis employees (also known as partners), was cut to six per cent of salary, totalling £89.4m. Last year, the employees were given a 10 per cent bonus. In [...]
Morrisons is feeling pretty chill about #Marmitegate, saying price rises will be “minimal”

March 9, 2017

The chairman of Morrisons supermarket has reassured shoppers that he will be minimising any price rises on groceries following the Brexit vote. The price of a grocery basket became a source of controversy last year when Unilever demanded higher prices from supermarkets, but Tesco refused – leading to a stand-off that became known as #Marmitegate. But [...]
Budget 2017: Government announces plans to crack down on VAT evasion

March 8, 2017

The government is cracking down on overseas traders that avoid paying UK VAT. In the Spring Budget today the Treasury has said that it will be putting in place measures to stop traders from undercutting UK businesses online by charging less and not paying tax on UK sales. To draw up a new collection method for VAT, [...]

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By: Helen Cahill

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