West End sees fewer Asian tourists amid Covid-19 restrictions and EU visa appeal April 27, 2022 London’s West End has seen fewer Asian tourists amid sustained Covid-19 travel restrictions in China and mainland Europe’s visa appeal – however US tourists are flooding back. While footfall and tourism levels are recovering comfortably after a gloomy pandemic period, the West End is seeing “fewer long haul Asian visitors at the moment”, with many [...]
Lloyds warns of looming defaults on cost of living shock April 27, 2022 The cost of living shock that is rippling throughout household finances is increasing the chances of borrowers defaulting on their debts, Britain’s biggest mortgage lender warned today. Worsening economic conditions triggered by inflation scaling to 30-year highs is likely to lead to greater financial distress among Brits, Lloyds Bank said today. The bleak assessment touches [...]
Persimmon on track to open 75 new outlets as it looks to take advantage of growing house prices April 27, 2022 Persimmon, the UK’s second largest housebuilders, is on track to open around 75 new outlets during the first half of 2022, having already opened over half by the end of March 2022. The housebuilder now has around 300 active outlets across the UK, as it looks to snap up more of the market and strengthen [...]
Business growth boosts London Stock Exchange Group as it avoids big hit from Russia exposure April 27, 2022 Revenues at LSEG have risen 6.3 per cent over the first three months of the year, powered by business growth and high customer retention.
City Moves: Who’s switching jobs in the Square Mile? April 27, 2022 City A.M.’s Millie Turner provides a roundup of the most important hires and job moves across the City, every morning. Email citymoves@cityam.com to be featured. Intuit Intuit, the technology platform behind QuickBooks, Mailchimp and Credit Karmahave hired a new vice president and UK country manager. Jolawn Victor has previously held senior roles at QuickBooks and PepsiCo. Joining from popular meditation app Headspace, where she was chief international officer, [...]
Global supply of electric car batteries could be shifting East to West, say analysts April 26, 2022 The world’s supply of advanced batteries, critical for electric cars, could be shifting West, say analysts, as production grinds to a halt in Asia. China’s most recent Covid-19 lockdowns have ‘chipped away’ at the country’s dominance in the battery market, analysts at independent energy researcher Rystad Energy, Susan Zou and Abhishek Murali, explained. Businesses have [...]
Santander pre-tax profit surges, as bank keeps watchful eye on soaring inflation April 26, 2022 Santander’s pre-tax profit has surged this quarter, despite the bank having to keep a watchful eye on soaring inflation. Profit from continuing operations before tax climbed more than 180 per cent to £495m in the three months to 31 March. However, with the looming risks of higher inflation, credit impairment charges came in at £52m, [...]
Taylor Wimpey bats off inflation concerns as home prices spiral in the housebuilder’s favour April 26, 2022 Taylor Wimpey has continued to bat off concerns surrounding inflationary headwinds, as the housebuilder agrees to spend another £80m on fixing its fire-risk cladding. The FTSE 100 firm signed the government’s fire safety pledge earlier this month, which means it must fix all cladding issues on buildings over 11 metres, which were build in the [...]
National Express revenue makes full pandemic recovery amid pent-up demand April 26, 2022 National Express’ revenue has made a full pandemic recovery, as pent-up demand and a domestic travel boom saw a greater take-up of coach travel last month. The group’s revenue has finally swung back to 2019 levels in the three months to 31 March, with last month’s earnings coming in ahead of pre-pandemic figures. While the [...]
Death of the office? Don’t tell City businesses as leases shoot up in the first quarter April 26, 2022 London’s office market looks fitter and healthier than ever before, according to the two of the UK’s largest property firms, despite the lures of working from home. Take up of office leases in central London shot up 89 per cent year-on-year in the first quarter, CBRE data shared exclusively with City A.M. revealed. City firms [...]