Boohoo enjoys strong growth but admits Brexit will drive up costs January 14, 2021 Brexit is likely to drive up prices at Boohoo, with additional costs largely relating to distribution and administration to blame. In a market update this morning the online retailer said it had implemented a system that was designed to minimise the impact of Brexit on its European customers, and it would try to mitigate extra costs [...]
Johnson dismisses referendum talk despite polling January 14, 2021 Over half of Scots would vote in favour of Scottish independence if a referendum were to be held tomorrow, according to an opinion poll published today. According to the poll by Savanta ComRes, 57 per cent of Scots said they would vote in favour of independence, as opposed to 43 per cent who would vote [...]
Real estate giant Savills reports ‘extraordinary rebound’ for markets outside London January 14, 2021 Savills reported this morning an “extraordinary rebound” since May as regional markets outside London delivered its strongest performance since the 2008 financial crisis. The estate agent said profits topped expectations in 2020 but the firm hesitated to give guidance for the new year amid Covid-19 uncertainty. Against the backdrop of the pandemic, the group delivered [...]
Why everyone’s talking about hydrogen January 14, 2021 What is all the excitement about? Renewable energy can and will decarbonise power generation. Renewable energy and batteries can and will decarbonise the automotive sector. But these technologies will not be as viable for aviation, shipping, commercial vehicles, steel or fertiliser manufacturing. In all of these vital industries it looks as though hydrogen will be [...]
Global investors flock to London in ‘golden age’ for tech January 14, 2021 London has cemented its role as Europe’s leading tech hub after a near-record year of investment as overseas investors circle in on the capital’s best firms. Global tech investors are piling into the capital with a total $10.5bn (£7.7bn) investment recorded in 2020, a quarter of Europe’s whole VC investment for the year. The amount [...]
What has Brexit done to property prices? January 14, 2021 The London and UK property market has, so far, remained relatively impervious to any post-Brexit related decline. Despite claims by the Bank of England that leaving the EU could see house prices fall by up to 35 per cent over three years, new research by Keller Williams UK has found that, so far, this has [...]
Boris Johnson vows to reimburse fishermen hit by Brexit ‘teething problems’ January 13, 2021 Boris Johnson has vowed to reimburse Scottish fishermen facing post-Brexit disruption and said current difficulties were only “teething problems”. The Prime Minister told a Westminster committee today that he understood “the frustrations of the fishing community” and that it will only be “a temporary frustration”. British seafood exporters have been hit by two weeks of [...]
Culture secretary: EU ‘let down music’ over post-Brexit touring visa January 13, 2021 The EU is to blame for “letting down music on both sides of the Channel” over a failure to grant visas to touring artists, the culture secretary has said. Oliver Dowden today insisted that the government “fought to get a good deal for British music” but the EU had turned it down “repeatedly”. “It did [...]
Exclusive: Pimlico Plumbers plots ‘no jab, no job’ policy January 13, 2021 Pimlico Plumbers has become the first company in the UK to announce a “no jab, no job” policy, after its chairman revealed plans to spend upwards of £1m rolling out mandatory vaccinations for its staff. Speaking to City A.M, founder Charlie Mullins said: “Once [the vaccine’s] out there and it becomes private, I’m happy to [...]
Debenhams closes six stores including Oxford Street flagship January 13, 2021 Debenhams has permanently closed six department stores, including its flagship site in Oxford Street, due to the third national lockdown. The retailer had planned to reopen the stores to sell off remaining stock, but the introduction of new Covid-19 restrictions means that sites where it was unable to secure lease extensions will close. The closures [...]