Jubilee high street boom risks being upended by cost of living crisis June 3, 2022 The Jubilee fervour driving shoppers back to bricks-and-mortar stores is “fragile” and could be upended by the cost-of-living crisis, experts have warned. According to figures released by the British Retail Consortium (BRC), visitor numbers inched up 0.6% between April and May, but are down 12.5% since 2019. However, this is ahead of Italy, France and [...]
Post Office workers to strike over jubilee weekend in dispute over pay June 3, 2022 Post Office workers are to go on strike over the jubilee weekend in a dispute over pay. Members of the Communication Workers Union (CWU) at Crown Post Offices – the larger branches often sited on high streets – will walk out on Saturday and in administration and supply chain networks on Monday. The strikes follow [...]
EU to ween off Russian oil within six to eight months June 3, 2022 The European Union (EU) has green lit a sixth round of Russian sanctions today, as Ukraine marks its 100th day since Russia’s invasion. “The Council decided today to impose a sixth package of economic and individual sanctions targeting both Russia and Belarus,” the EU Council said in a press release today. The EU plans to [...]
Warning of £1.5bn funding gap to meet electric charging targets June 3, 2022 Electric car charging firm Liberty Charge has called on the sector to step in and help finance the nationwide rollout of charge points as it warned of a more than £1.5 billion shortfall in Government funding. Liberty Charge – a joint venture between Virgin Media owner Liberty Global and private equity firm Zouk Capital – [...]
Playtech’s billionaire founder to sell Camden Market estate for £1.5bn June 3, 2022 Popular tourist destination Camden Market is reportedly undergoing a quiet sale process, which could fetch its billionaire owner around £1.3bn. While Israeli magnate and Playtech founder Teddy Sagi is hoping to bag £1.5bn for the 16-acre estate – which includes three markets – he has not put a firm price tag on the deal, the [...]
EP: 135 Hong Kong – Sha Tin Racecourse June 3, 2022 Following on from our special Cazoo Oaks and Cazoo Derby podcasts, in this episode we cast are regular eye over the best of Sunday’s Sha Tin racecard in the company of Wally Pyrah. Hosted by Chris Barnett. The Punter ‘The Punter’ has been City AM’s dedicated sports betting section for over a decade with a primary [...]
The tonic for Boris Johnson’s ailing leadership may well be boring politics, not Churchillian June 3, 2022 Boris Johnson’s Churchillian love affair is well documented. But facing increasing pressure over his future, the Prime Minister must resist his idol’s playbook for how to govern. When penning a biography of Britain’s wartime hero in 2014, the canny PM knew this would draw instant comparisons between him and the man voted the “greatest Briton”. [...]
Ukraine mulls extra import duty as it hikes interest rate to seven-year high June 2, 2022 Ukraine’s central bank is considering bringing in an extra import duty on non-critical imports, having hiked its main interest rate to a seven-year high. The country has increased interested rates from a previously frozen 10 per cent to 25 per cent today, in the first tightening of policy from the National Bank of Ukraine (NBU) [...]
OPEC+ hikes summer oil production targets, bringing September lift forward June 2, 2022 OPEC+ has hiked its production quotas for July and August, the oil organisation said in a statement today, having already lifted its target for next month. The organisation, which consists of the Organization of Petroleum Exporting Countries and allies including Russia, has committed to boosting output by a further 648,000 barrels per day – bringing [...]
Richest in Japan: Uniqlo founder’s wealth collapses by 44 per cent since start of the year June 2, 2022 The billionaire founder of high street fashion brand Uniqlo has lost nearly half of his wealth since the beginning of the year. The staggering 44 per cent loss, revealed yesterday in Forbes’ list of the 50 richest people in Japan, has been spurred by a sales slowdown in Japan and China, which has hit Uniqlo [...]
