Redrow plans to reinstate dividend as London exit progresses November 6, 2020 Redrow announced it has made progress on pulling out of the London market as the developer focuses on the post-pandemic changes in consumer behaviour, saying it will reinstate its dividend at its half-year results. The housebuilder said it has exited three of the six London sites it had decided not to develop and is continuing [...]
Airbnb suspends 800 party houses in crackdown on antisocial behaviour November 6, 2020 Airbnb has suspended more than 800 UK property listings as part of a crackdown on party houses. More than 13,500 booking requests have also been blocked as part of a pilot to prevent under-25s to rent homes close to where they live in a bid to stop anti-social behaviour. Airbnb removed listings that have received [...]
Michel Barnier tells EU that UK has ‘blocked’ Brexit trade deal progress November 6, 2020 The European Union’s chief Brexit negotiator Michel Barnier reportedly told the bloc’s diplomats that the UK has “blocked” progress in key areas of trade deal talks. At a confidential meeting yesterday afternoon, Barnier briefed representatives from the EU’s 27 member states, saying that “fundamental differences” remain between the two sides, Sky News reported. According to [...]
Luxury hotel group Mandarin Oriental warns of ‘significant’ full-year loss November 5, 2020 Luxury hotel group Mandarin Oriental today warned that it will report a “significant” loss for the full year after demand for city centre accommodation crashed during the coronavirus pandemic. The firm, which counts a five-star Knightsbridge hotel among its portfolio, said business levels remain low in most locations due to Covid-19 restrictions. Manderin Oriental this [...]
Superdry pins hopes on Black Friday sales during lockdown November 5, 2020 Superdry is cutting prices and targeting strong online Black Friday sales while its stores are closed during the coronavirus lockdown in England. The fashion retailer, which today reported that total revenue declined 23.3 per cent in the first half of the year, said it is focused on boosting ecommerce sales on Black Friday. It has [...]
Drinkers and shoppers flock to high streets to toast last night before lockdown November 5, 2020 Drinkers and shoppers flocked to pubs and high streets yesterday ahead of the introduction of a new nationwide coronavirus lockdown in England. The latest footfall data showed that high street visitor numbers surged 23.5 per cent on Wednesday compared to the previous week as consumers squeezed in a final pint or shopping trip before restrictions [...]
Tiktok to allow MPs to review algorithm over Uyghur censorship concerns November 5, 2020 Social media giant Tiktok will allow UK politicians to review its algorithm, after MPs challenged the firm over censorship concerns and ties to the Chinese government. Tiktok’s UK director of government relations and public policy Elizabeth Kanter said members of the Business Select Committee were welcome to visit its “transparency centre”, to review its algorithm [...]
Boohoo and Nike grilled over supply chain links to slave labour in China November 5, 2020 MPs this morning grilled fashion firms, including Boohoo and Nike, over potential supply chain links to slave labour and exploitation in China. The retailers’ sourcing and sustainability bosses were today called in to give evidence to the Business Select Committee, as part of an investigation into the extent to which the products of forced labour [...]
Snakes and Ladders: Who is moving jobs in the City this week? November 4, 2020 Snakes and Ladders provides a roundup of the most important hires and job moves across the City, every Wednesday afternoon. Email citymoves@cityam.com to be featured. Firms are continuing to adapt to the challenges and opportunities presented by the pandemic as they vie to be in prime position to recover from the economic fallout of the crisis. This week, [...]
Shepherd Neame swings to a loss ahead of new hospitality restrictions November 4, 2020 Britain’s oldest brewer Shepherd Neame swung to a loss in the last financial year due to the impact of the coronavirus lockdown. The pub chain posted a loss before tax of £12.1m in the year ended 27 June, compared to profit of £3.5m the previous year. Turnover dropped from £145.8m to £123.6m, reflecting the three [...]
