B&Q owner Kingfisher’s shares dive on European store closures March 16, 2020 Shares in B&Q owner Kingfisher plunged this morning after the DIY retailer warned that sales were expected to take a hit as stores closed across Europe due to the outbreak of coronavirus. The firm’s share price dropped more than 19 per cent after it was forced to shutter 221 of its Castorama and Brico Depot [...]
Coronavirus: Pandemic heaps uncertainty on house price growth March 16, 2020 The UK’s coronavirus outbreak has heaped uncertainty on London’s housing market, which had started to rally following the Conservative general election victory. The price of property coming to market in the capital surged 5.1 per cent year on year last month to an average of £638,826, the highest annual rate of growth since May 2016. [...]
UK distillery numbers jump as craft gin popularity booms March 16, 2020 The number of distilleries in the UK has surged as craft gin continues to grow in popularity, according to the latest research. Distilleries jumped 20 per cent to 246 over the last year, up from 205 the previous year, as the UK gin industry toasted a nine per cent increase in export sales to £672m [...]
Retail footfall jumps as UK coronavirus cases rise March 16, 2020 Retail footfall spiked at the end of last month as consumers rushed to the shops to stock up due to the spread of coronavirus in the UK. Retail footfall in February was down two per cent year on year due to several storms during the month. However, the final week of the month saw a [...]
Business on the brink: Airlines, hospitality and train operators in line for state support March 16, 2020 The existential threat to business posed by the Covid-19 pandemic became crystal clear this weekend as a host of industries warned of a potentially fatal cash crunch in the coming weeks. The aviation industry led calls for targeted government support, with train operators struggling with lower passenger numbers and the hospitality industry not far behind. [...]
Coronavirus: Hospitality firms on the brink of collapse as footfall dives March 15, 2020 Struggling hospitality firms could be nearing the brink of collapse due to a dive in footfall across London’s pubs and restaurants this weekend as punters stayed home to avoid the coronavirus outbreak. Hospitality companies are preparing to make redundancies as soon as this week, as visitors to London’s restaurants and bars fell 39 per cent [...]
Coronavirus: Supermarkets urge customers to stop stockpiling March 15, 2020 UK supermarkets have called on the UK public to stop stockpiling in response to coronavirus as fears mount that some people could be left without essential products. In an open letter to customers, the country’s biggest food retailers, including Sainsbury’s, Tesco Asda and Morrisons, called on consumers to “be considerate in the way they shop” [...]
BA boss warns coronavirus worse than financial crisis for airlines March 13, 2020 The boss of British Airways (BA) has warned that the coronavirus pandemic will have a bigger impact on the airline industry than the financial crisis. BA chief executive Alex Cruz reportedly told staff that the outbreak is a “crisis of global proportions like no other we have known”. The spread of Covid-19 will force the [...]
Housing secretary Robert Jenrick slams Sadiq Khan’s London homes plan March 13, 2020 The housing secretary has slammed Sadiq Khan’s proposals for new London’s homes, saying a focus on small flats will push families out of the capital. Robert Jenrick MP has blocked the publication of the London mayor’s housing plan until “significant improvements” have been made. In a damning letter to Khan, Jenrick said housing delivery in [...]
Coronavirus: Supermarkets rebound but leisure stocks suffer March 13, 2020 Supermarket stocks made gains this morning after being dragged down by a mass FTSE 100 sell off sparked by mounting coronavirus fears. Sainsbury’s share price jumped 8.02 per cent to 188.97p, Tesco was up 10.46 per cent at 233.3p and Morrisons climbed 7.98 per cent to 178p. Grocers are positioned well to ride out the [...]
