FTSE 100 closes higher and US stocks rise despite fresh coronavirus lockdowns November 2, 2020 The FTSE 100 rebounded strongly from a terrible last week and US stocks jumped as investors rediscovered some optimism ahead of the US election and key central bank meetings. London’s main stock index was 1.4 per cent higher at 5,654 points by the close of trade, despite the imposition of a new national lockdown. The [...]
Tech stocks drag down Wall Street as FTSE 100 suffers worst month since March October 30, 2020 Sliding tech stocks dragged down Wall Street this afternoon, while the FTSE rounded off its worst monthly fall since March amid a wave of new coronavirus lockdowns. The three main US indexes were on course for their worst week since March as ongoing pandemic-related uncertainty and the looming presidential election sparked market volatility. Read more: [...]
Fun in the age of Covid: How to enjoy Halloween weekend October 30, 2020 While coronavirus continues to scupper all but the most determined of fun-seekers, the London cultural scene is largely just getting on with things as best it can. In this new regular column, we fill you in on the the ever-changing restrictions and give you a list of ways to spend a perfect, Covid-safe Halloween Weekend. [...]
Negative rates explained: should UK investors prepare? October 30, 2020 The UK’s banks received a letter from the Bank of England (BoE) this week which has brought negative interest rates back into the headlines. The letter, published here, asked banks how ready they would be if the Bank of England base rate – which currently sits at 0.10% – moved into negative territory. The letter, signed [...]
Bother: The startup looking to disrupt the grocery market October 30, 2020 The days of empty shelves and loo roll shortages seem a distant lockdown memory, but one London-based startup thinks it speaks to a wider problem within the UK’s grocery market. Startup Bother is on a mission to disrupt the saturated grocery market by offering what it considers to be a convenient and cheaper online alternative. [...]
Corona Impact Series: A vegan stop off Oxford Street October 29, 2020 In this series, City A.M. looks at the financial and economic impact of the ongoing pandemic on a range of small and medium-sized businesses across London. Today: how evaporated demand and high rent obligations ultimately proved fatal for Ethos. Meat-free and plant-based Ethos opened six years ago, catering for vegans by offering ‘deliciously different’ meat-free and [...]
What grassroots use of Bitcoin could mean for liquidity October 29, 2020 The road to the recent announcement from PayPal goes back 10 years. 2010 famously saw the first recorded commercial transaction of Bitcoin when a user spent 10,000 BTC on pizza. Pizza is delicious, but we would all be kicking ourselves for exchanging what is currently worth $130 million on 2 pizzas. This is now celebrated [...]
Commercial rent collections buoyed by September’s short-lived return to offices October 26, 2020 Commercial rent collections started to recover in the third quarter due to the reopening of non-essential retail, offices and schools after lockdown. Real estate services firm Cushman & Wakefield said today that it had collected 77 per cent of rents owed to its clients on the 21st day after the third quarter due date. The [...]
Drop in drama comes at bad time for Premier League’s pay-per-view push October 26, 2020 Who remembers the good old days of a few weeks ago, when the Premier League was all goals and madcap scorelines? Leicester smashing five at Manchester City was soon eclipsed by Tottenham’s six-goal romp at Manchester United and then, giddily, Aston Villa putting seven past champions Liverpool. Gameweek Two had set the tone, ushering in [...]
Consumer confidence edges up on Eat Out to Help Out boost October 25, 2020 Consumer confidence continued to climb over the last three months from a record low at the height of the pandemic, after the government’s Eat Out to Help Out scheme provided a welcome boost to Britain’s ailing high streets. Deloitte’s quarterly Consumer Tracker found British shoppers’ confidence edged up one percentage point to minus 16 in [...]