UK advertising market not set to recover until 2022 after Covid-19 crash October 29, 2020 The UK advertising market will not recover until 2022 after sinking to record lows this year as a result of the coronavirus outbreak. Ad spend is set to come in at £21.5bn this year, marking a fall of £3.6bn — or 14.5 per cent — compared to 2019. The figures come ahead of the crucial [...]
Germany to enter four-week lockdown from November October 28, 2020 Germany will enter a four-week lockdown from 2 November, Chancellor Angela Merkel confirmed today. Pubs, bars and restaurants across the country will shut for one month, while all inter-household mixing will be banned. Gyms, cinemas and theatres will also shutter for four weeks, as Merkel scrambles to contain a second wave sweeping across the nation. [...]
Two-thirds of all UK businesses at risk of insolvency October 28, 2020 Two-thirds of all businesses across the UK currently trading have a “low to severe risk of insolvency”, according to the Office for National Statistics (ONS). The latest Business Impact of Coronavirus Survey (BICS) from the ONS found that 64 per cent of businesses across all industries are at risk of insolvency, with 43 per cent [...]
Majority of London offices cancel Christmas parties in face of new restrictions October 28, 2020 Almost all London offices have parked the tinsel and cancelled their Christmas parties this year, according to new research, as the capital faces a bleak festive season under Tier 2 restrictions. More than 95 per cent of London businesses have cancelled bookings for traditional office parties this Christmas, after the capital’s move to “high” alert [...]
Tough on dirty money? The UK has a way to go October 28, 2020 In 2016, the National Crime Agency estimated that £90bn is laundered via London each year. The UK government’s response was swift, with a commitment to “block dirty money flowing into the City of London”. It unveiled radical plans to “overhaul the approach to tackling economic crime, with greater partnering between the government, law enforcement and [...]
Retail sales fall sharply as new restrictions dampen economic recovery October 27, 2020 Retail sales fell sharply this month as new coronavirus restrictions dampened the UK’s economic recovery, according to the latest research. In the year to October retail sales dropped to a balance of minus 23 per cent, from growth of 11 per cent last month, according to the CBI distributive trades survey. Retail sales have been [...]
Revolution Bars to close six sites as sales plunge due to coronavirus 10pm curfew October 27, 2020 Revolution Bars will permanently close six sites after coronavirus restrictions such as the 10pm curfew on hospitality venues caused sales to plummet. The bar chain announced this morning it would launch a company voluntary arrangement to close sites, cut rents and improve profitability. Investors will need a stiff drink today, with shares already down 6.5 [...]
Sunak spars with education secretary in free school meals row October 26, 2020 Chancellor Rishi Sunak locked heads with the education secretary today as both ministers attempted to shirk the blame for the government’s decision not to extend free school meals throughout the October half-term. Sunak rebutted claims made in the Sun on Sunday yesterday that the Treasury had “parked the bus” on providing free school meal vouchers [...]
It may not feel like it but the greatest year of sport is almost upon us October 26, 2020 As we fast approach the end of the year we should all allow ourselves to look forward to crawling out of the dark cloud of Covid-19 and into 2021, the greatest year of sport ever. Euro 2020, the Tokyo Olympics and Paralympics, Twenty20 cricket World Cups, the Women’s Euros, a Ryder Cup, a Rugby League World [...]
Post Office to axe 600 cash machines October 26, 2020 The Post Office will cut 600 of its free to use cash machines after a decision to take the assets in-house. Over the next four years, the Post Office will invest £16m into 1,400 ATMs across its estate. At the moment, there are 2,000 cash machines at its branches, but these are owned and operated [...]