M&S cut prices on a range of items as shoppers face cost of living crunch April 11, 2022 Marks & Spencer has slashed prices on some core grocery items as it hopes to woo shoppers amid rising costs. Supermarkets are endeavouring to maintain their market shares while shoppers have flocked to discount retailers to mitigate the cost of living crunch in recent weeks. M&S revealed on Monday that it had lowered prices on [...]
Mothercare delays pension deficit payments after disruption of Russian operations April 11, 2022 Mothercare said it would be posting a higher than expected profit on Monday. In a pre-close trading update, the baby-clothes seller said it expected that EBITDA before adjusting items would be in the range of £11.5m to £12m for the year to 26 March. The retailer’s share price fell by a dramatic seven per cent [...]
150-year-old Hackney church to be turned into workspaces April 11, 2022 The 150-year-old St Michael & All Angels Church in Hackney is to be turned into workspaces, as London’s offices fall further away from tradition post-pandemic. Boutique developer Aitch Group and property investor VFund have entered a joint venture to restore and develop the Grade I listed building, which is one of just six left [...]
P&O Ferries restarts Scotland-Northern Ireland services as Dover remains shut April 11, 2022 Disgraced ferry operator P&O Ferries announced today it has restarted services between Scotland and Northern Ireland, following a chaotic weekend for passengers. “Some of our services have now resumed sailing. Please see the current schedule for departures from Larne and Cairnyan,” the company said in a tweet. P&O also announced services remained cancelled today in [...]
Financials drive London lower as Paris boosted by Macron-Le Pen face off April 11, 2022 Sharp losses among financial stocks drove London’s top indexes lower yesterday. The capital’s premier FTSE 100 index lost 0.7 per cent to fall to 7,615.79 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, fell 0.35 per cent to 21,099.50 points. Insurers, fund managers and [...]
Lawyers struggle to get government permission to let sanctioned Russians pay legal fees April 11, 2022 LAWYERS working for sanctioned oligarchs are floundering in their efforts to get paid for their work, due to struggles in obtaining permission from the UK government to let their sanctioned clients pay. The UK government has received 15 separate applications for permission to temporarily lift sanctions so that sanctioned Russian clients are able to pay their [...]
Warehouse boom amid online shopping frenzy as construction bill hits highest level since 1985 April 11, 2022 The UK is in the throes of a warehouse boom after roaring demand for e-commerce businesses was accelerated during the pandemic. The Office for National Statistics (ONS) revealed on Monday that the UK’s transport, logistics and warehousing sector has almost doubled since 2011. This makes it the country’s fastest-growing sector, outpacing information and communication. Logistics [...]
The City View: Sluggish UK economic growth, and Heathrow flying high April 11, 2022 Today Andy Silvester talks to City A.M.’s Economics and Markets reporter Jack Barnett. They go through lacklustre UK economic growth figures and why the cost-of-living crisis will hinder said growth; the latest inflation figures; the global economic recovery; and economic uncertainty to come. Andy also goes through the news: Heathrow has marked its highest number [...]
Ukraine braces for renewed Russian offensive in the East April 11, 2022 Vladimir Putin is gearing up for a renewed offensive in the East of Ukraine as the town of Mariupol braces for what could be its last stand against Russian forces. Ukrainian President Volodymyr Zelensky today said “we are ready” for Russia’s push to take the entire Donbas region, which the Kremlin hopes will rejuvenate its [...]
Network Rail invests £2m to clean ‘eyesore’ graffiti on railways April 11, 2022 Network Rail announced today it was investing £2m to clean “eyesore” graffiti on south-east London railway infrastructure. The company’s cleaning teams removed and painted over the graffiti, applying an anti-graffiti paint to deter people from vandalising the same areas – including Hungerford Bridge – in the future. “Everyone should feel safe when travelling on our [...]
