EU leaves eurozone growth forecasts unchanged February 13, 2020 The European Commission left its economic forecast unchanged for this year and 2021, as it warned that several eurozone member states may see more sluggish growth. The commission said gross domestic product (GDP) growth for the 19 eurozone countries would remain at 1.2 this year, continuing into 2021. The EU executive said that while the [...]
New £27m aparthotel planned for Aldgate February 13, 2020 A new £27m 12-storey aparthotel development in Aldgate has been given the go-ahead, in the latest sign of confidence in London’s hotel market. US asset manager Oaktree Capital Management has backed the development, which will be a new Locke hotel operated by Edyn Group. The 103-unit venue in Buckle Street, near Aldgate East station and [...]
Retail bosses call for business rates reform in 2020 budget February 13, 2020 Major UK retailers, including Debenhams, Sainsbury’s and M&S, have this morning called on the chancellor to take action on business rates reform in the upcoming budget. Retail bosses representing some of the country’s biggest high street chains have written to Sajid Javid urging him to outline plans to reform the transitional relief system in the budget [...]
London house prices buoyed by general election result February 13, 2020 London house prices jumped in January, buoyed by December’s decisive general election result, according to the latest research. A survey of chartered surveyors found that the London house price net balance rose to 28 per cent in January, the highest reading since 2016 and up from minus eight per cent in December. The number of [...]
Restaurants and pubs boost sales during Dry January February 13, 2020 Restaurants and pubs had a strong start to the year despite sluggish growth in London, as they catered for vegan diets and Dry January, according to the latest research. The UK’s managed pub, bar and restaurant sector reported sales growth of 1.9 per cent in January compared to the same month last year, as relatively [...]
Government to hold crunch talks with Flybe over potential loan February 12, 2020 The government is set to hold talks with struggling regional airline Flybe this week over proposals for a potential loan. Whitehall officials are expected to meet with the airline and its shareholders as soon as tomorrow to discuss a potential £100m in government support, Sky News reported. One scenario for the proposed deal could see [...]
Theresa May earns further £112,800 after quitting as PM February 12, 2020 Theresa May has earned another £112,800 in speaking fees and hospitality gifts since quitting as prime minister, on top of more than £380,000 previously declared. The MP for Maidenhead received £96,000 for giving a speech at an event hosted by PwC at the World Economic Forum in Davos, according to the latest House of Commons [...]
First coronavirus case reported in London February 12, 2020 The first case of coronavirus has been confirmed in London, according to reports. The patient is reportedly a woman and contracted the virus in China. She has been transferred to Guy’s and St Thomas’ hospital. The BBC reported that the patient developed symptoms of coronavirus after landing at Heathrow, called NHS 111 and then tested [...]
Dr Martens owner snaps up luxury trainer brand Golden Goose for €1.3bn February 12, 2020 Permira, the private equity owner of Dr Martens and Reformation, has snapped up Italian trainer brand Golden Goose for €1.28bn. US private equity firm Carlyle has sold its majority stake in the luxury fashion brand after buying the firm in 2017, the companies announced today. Permira was battling with rival private equity firm Advent and [...]
M&S bolsters menswear team after skinny jeans fiasco February 12, 2020 Marks & Spencer (M&S) has appointed a new menswear buying director, after the retailer’s Christmas sales were dented when it ordered too many skinny jeans in the wrong sizes. M&S chief executive Steve Rowe has been battling to turn the clothing and home division around, but total revenue slumped 3.7 per cent in the third [...]
