City’s new Lord Mayor will be a much-needed Square Mile champion November 15, 2021 As we move towards guarded optimism that we really might be over the worst of the Covid-19 pandemic, that cheery outlook is increasingly not being matched by economic data. Today two surveys suggest confidence is faltering, as supply chain issues and staffing shortages begin to be felt. Another look at pub takings suggest we’re not [...]
Half of UK businesses have decreased or stopped trade with EU post-Brexit November 15, 2021 Almost half of British businesses that traded with the EU pre-Brexit are doing less trade with the bloc, or have stopped entirely, since the UK left the single market and customs union in January, according to a new survey. An Institute of Directors survey, commissioned by Channel 4, out today also showed 16 per cent of [...]
Covid-19 spooks majority of firms to keep cash reserves stocked up November 15, 2021 More than 70 per cent of larger businesses are seeking to bolster their cash reserves, as firms look to strengthen their position to tackle any future crises, according to the latest research, which has been shared exclusively with City A.M. The Covid-19 pandemic has been a wake up call for businesses, after the global health [...]
Uber’s model was rife with flaws but the gig economy deserves saving November 15, 2021 It has been less than ten years since Uber started operating in London. In that short time, the ride-hailing service has transformed the way many urban dwellers think about their transportation needs and their expectations of connectivity. By the beginning of 2020, just before the pandemic, Londoners took it for granted that Uber—or Bolt Kapten [...]
Take back control? Not until we reign in bullying councils and reinstate local parishes November 15, 2021 You probably haven’t heard of Queen’s Park in Westminster but it has a unique claim to fame: it is the only neighbourhood in London that governs its own affairs. In 2014, after three years of bitter political battles, local people wrestled a modicum of control from the borough, Westminster City Council by establishing Queen’s Park [...]
Social mobility in the Square Mile has to be at the top of every boardroom’s agenda November 15, 2021 When I first came to the City of London from Dublin over three decades ago – with no professional network or established contacts on this side of the Irish Sea – it would have been far-fetched to imagine that I would eventually become its Lord Mayor. Tonight I will be welcoming the Prime Minister to [...]
Dividends scale to new heights as companies shake off pandemic hangover November 15, 2021 Companies are rewarding shareholders with record levels of dividends as corporate balance sheets shake off the hangover of the Covid-19 crisis. Firms paid shareholders $403.5bn in dividends in the third quarter of the year, the highest total ever recorded for the three months to September, research by Janus Henderson has found. Dividends are 22 per [...]
Hot property: Covid ‘race for space’ has homemover numbers at a record high November 15, 2021 Whether it was shifting to the countryside, out to the suburbs or back into the post-lockdown bustle of a city centre, removals vans have been criss-crossing the country to keep up with a boom in the number of homemovers. Data out this morning from Halifax confirms the number of homemovers hit a record high in [...]
Not going out: sales down 4.5 per cent for pubs, bars and restaurants November 15, 2021 The hospitality sector is struggling to bounce back from Covid-19 as Brits take a cautious attitude to spending post-lockdown. Rolling sales for managed pubs, bars and restaurants are down 4.5 per cent over the past 12 months as the sector continues to be hit hard by supply chain pressures, high energy prices and recruitment issues. [...]
UK business sentiment hits 12-month low amid supply chain and inflation woes November 15, 2021 British business sentiment dropped to its lowest level in a year in October, dragged down by fears of looming inflation and supply chain pressures that could undermine a sustained recovery from Covid disruption. Inflation expectations among UK business leaders surge to a record high last month, with 66 per cent expecting non-staff costs to increase [...]
