Segro buys Canning Town warehouse in £133m deal October 21, 2020 Property development firm Segro is adding a Canning Town warehouse estate to its London portfolio as it increases its presence in the capital. The landlord, which counts Amazon and Ocado as some of its clients, today announced it had acquired Electra Park, a 13 acre urban warehouse, from global investment manager Schroders for £133m. The [...]
Back to Business: How a Dalston cafe-owner stayed afloat October 21, 2020 As coronavirus restrictions continue to squeeze the hospitality sector, we asked Dalston’s Snackbar owner Freddie Janssen how she stayed afloat and got back to business. Who are you and what do you do? I’m Freddie Janssen, owner of Snackbar in Dalston. It’s a bright and buzzy little neighbourhood cafe serving good coffee and quality comfort [...]
Think tank: London may need £440m a month if put into Tier 3 restrictions October 21, 2020 London would need more than £400m a month from the government if it is plunged into Tier 3 and if the city makes the same funding requests as Manchester, according to a top think tank. The Centre for Cities has calculated the capital would need £112.4m for every week it is in the top band [...]
Exclusive: London restaurant spend topped 2019 before new restrictions October 21, 2020 Spending at restaurants, pubs and bars in London climbed above 2019 levels for the first time during the coronavirus pandemic before new restrictions were put in place, data provided exclusively to City A.M has shown. Food and beverage spending was 1.7 per cent higher in September than a year earlier, according to Fable Data, which [...]
End the war on pubs — hospitality isn’t to blame for the Covid crisis October 21, 2020 2020 should have been a year of cheering on our teams in the European football finals and Olympics from pubs and bars across the land, bolstered by meals out in beer gardens throughout a typically blistering British summer. Instead, thanks to Covid-19, this year will be remembered for social distancing, job losses, and uncertainty. After [...]
The government must take back control of the Covid narrative October 21, 2020 The word “narrative” is usually seen as being a posh way of saying “story”. But the idea of narratives is one which is gaining traction in economics. Last year, for example, Nobel laureate Robert Shiller of Yale published a book entitled “Narrative Economics”. He argued that it is the perception of events and the stories [...]
Help retail workers weather the mental health storm October 21, 2020 You’re having “one of those days” — you know, the kind we all seem to be having with increasing regularity. But you’ve got to pop to the shops to pick up some essentials. Parking is a nightmare, and to cap it all, it’s raining. You’re anxious about all sorts of things and quite frankly, you’re [...]
FTSE 100 drops as pound surges and Covid worries grow October 21, 2020 The FTSE 100 dropped as investors worried over new coronavirus restrictions and the pound soared amid hopes of a Brexit deal, hurting firms’ overseas earnings. London’s blue-chip index opened flat but had tumbled 1.3 per cent by late morning to 5,814 points. The FTSE 250 was down 0.3 per cent. Read more: UK inflation climbs [...]
London is the toughest place to be an entrepreneur, report finds October 21, 2020 London is the toughest place in the UK to be an entrepreneur due to a huge wealth disparity and a higher cost of living, according to a new report. The government-funded British Business Bank (BBB) and management consulting firm Oliver Wyman have today published a report into the huge impact ethnic and economic background as [...]
UK dividend drought continues into third quarter October 21, 2020 The collapse of corporate dividends this year continued into the third quarter, as payouts slumped by nearly half to £18bn. Companies have scrambled to conserve cash amid the crisis, and the 49 per cent drop last quarter represents the lowest third quarter total in a decade since the aftermath of the global financial crisis. Although [...]
