Rishi Sunak: Circuit breaker would be ‘enormously damaging’ to economy October 20, 2020 A new circuit breaker lockdown would be “enormously damaging” for the economy and the government will continue to pursue a localised Covid approach, according to chancellor Rishi Sunak. Sunak told MPs this morning that a two to three week lockdown, which Labour is recommending, would cause “unnecessary pain and suffering on those in parts of [...]
Exclusive: South London boroughs lead house price charge October 20, 2020 The south London boroughs of Merton, Croydon and Kingston saw the fastest house price growth in the year to August as the capital’s property market remained surprisingly buoyant, according to exclusive analysis by property website Zoopla for City A.M. Price growth was much slower up in Hillingdon, Barnet and Brent, however, reflecting big differences within [...]
London Metal Exchange ‘Ring’ to remain shut for six more months October 19, 2020 The London Metal Exchange’s (LME) iconic “Ring trading” floor will remain shut for six more months, it was revealed today, raising the prospect of its permanent closure. Since the 1800s, traders at the LME have shouted buy and sell orders for metals while seated around a red curricular sofa but the days of one of [...]
Number 10: Manchester hospitals will be soon overrun without Tier 3 restrictions October 19, 2020 Downing Street has said Manchester’s hospitals are weeks away from using up all their available intensive care beds if Covid infections continue at their current rate in a bid to ramp up pressure on Andy Burnham to accept Tier 3 restrictions. The Prime Minister’s spokesman told a group of journalists today that Covid cases in [...]
London hospitality industry marches on parliament – live updates October 19, 2020 Members of the London and UK hospitality industry are staging a protest on Parliament Square, urging the government to revise its policies relating to hospitality venues. Reporter Poppy Wood is down in Westminster: follow live updates and responses here. Update 11:50 Chef and restaurateur Jason Atherton tells City A.M. that “what Boris Johnson has done [...]
It’s up to the City to drive Britain’s economic recovery October 19, 2020 “The harder yards are ahead of us,” warned Bank of England governor Andrew Bailey recently, as Britain’s households and businesses brace themselves for a bitter winter in the midst of the pandemic. With the UK’s economic recovery already fragile, it is clear we need to identify the engines for growth that can weather the storm [...]
Retail giants urge Sunak to U-turn on abolishing VAT refund for tourists October 19, 2020 A group of 16 UK retail giants has urged Rishi Sunak to U-turn on his plan to abolish the VAT refund for international visitors from next year. The group – which includes the heads of Paul Smith, Ted Baker, The White Company, Fortnum and Mason and Charles Tyrwhitt – said abolishing the VAT refund would [...]
A lost generation of startups: are early-stage companies being left behind? October 15, 2020 Early-stage companies face a difficult winter ahead as barriers to funding increase and the number of failing tech startups soar. Last month saw a record number of filings for administrations, liquidations or dissolutions of the UK’s startups. Research by Plexal and Beauhurst published today reveals more than 1,000 tech startups have filed since the start [...]
London Tory MPs call for extra support for businesses facing Tier 2 restrictions October 15, 2020 A growing number of London’s Conservative MPs are calling for the government to extend more financial support to businesses dealing with Tier 2 restrictions as Boris Johnson faces a growing backbench rebellion. The capital will be moved into the Tier 2 Covid category on Saturday, meaning social mixing between households will be banned indoors. The [...]
Investment managers urged to join government’s Kickstart scheme October 15, 2020 Investment managers are being urged to support young people with work placements amid the pandemic. Investment 20/20, part of the Investment Association, is calling on the industry to provide placements for 16-24 year olds on university credit, as it announces a new initiative in support of the government’s Kickstart scheme. Last month the government urged [...]