From stamp duty to the triple lock, Andy Haldane says bold Burnham leadership can usher ‘vibe change’ for UK economy
UK poised to have officially dodged recession last year as outlook brightens March 26, 2023 Britain is poised to have officially swerved a recession last year, the country’s statistics agency is expected to confirm this week. New final numbers outlining economic growth in the final three months of 2022 are likely to hold steady at zero per cent, meaning the UK narrowly dodged the official recession definition of two consecutive [...]
FTSE 100 close: London index falls as investors react to mixed retail figures, JD Wetherspoon and Tui March 24, 2023 London’s FTSE 100 index closed 1.31 per cent lower today as investors failed to be enthused by data showing the UK’s economy is faring better than expected following the Bank of England’s (BoE’s) decision to hike interest for the eleventh time in a row. The capital’s premier index fell 1.05 per cent to 7,424.71 points [...]
Retail: 40 per cent of high street shops will have to be repurposed or they will ‘wither on the vine’, local leaders warn March 23, 2023 Some 40 per cent of high street shops will have to be repurposed or they will “wither on the vine” as the demand for physical retail dwindles, local leaders have warned. According to a survey by trade body Revo and consultancy Lambert Smith Hampton, as first reported by The Guardian, the need to reinvent retail [...]
Can Tulip Siddiq get Labour’s City plans blooming? March 23, 2023 Labour's Shadow City minister talks facing off against her opposite number and the struggle for the Square Mile.
Superdry share price up three per cent after sale of Asian Pacific IP for £40m March 22, 2023 Struggling fashion brand Superdry has sold the intellectual property of its Asia Pacific offering to South Korean retail group Cowell Fashion Company for $50m (£40m) in a bid to boost funds. The deal will see Cowell own and sell the Superdry in the Asian market starting with its home market of South Korea and then [...]
Pubs are go: Britain’s oldest brewer Shepherd Neame shrugs off strikes and inflation in eight per cent revenue rise March 22, 2023 Britain’s oldest brewer Shepherd Neame has said consumer spending in the wake of the costs of living crisis has “remained strong” as the group posts strong revenues for the 26 weeks to December 2022. The listed pubs group, which operates around London and the South East, posted revenues of £85.3m up 8.4 per cent from [...]
New 32-storey building to tower over iconic Leadenhall Market and showcase City of London’s Roman past March 21, 2023 Plans to build a 32-storey tower over the City’s iconic Leadenhall Market have been given the green light by city planners. The City of London Corporation’s planning applications sub-committee approved plans this week for the new tower that will house 27,000 sq m of new office space and will look to boost the Square Mile’s [...]
Can effective regulation make cryptoassets and stablecoins useful? March 21, 2023 Lord Holmes explains how effective regulation can help to unlock potential while safeguarding consumers and the financial system.
New Look looks to slash 70 jobs at London and Weymouth head offices in further shift to digital March 21, 2023 High street retailer New Look has put 70 job roles at its head offices in London and Weymouth at risk of redundancy. According to reports first published in Drapers, the move is understood to be part of a wider examination of the business and could impact several departments across the locations. It’s understood that employees [...]
Currys gives 10,000 staff fourth pay rise in 18 months with extra help for London workers March 21, 2023 Tech retailer Currys will increase wages for hourly paid staff for the fourth time in 18 months – with workers in the capital getting extra help. Pay for hourly paid store colleagues will rise to £10.50 across its stores in the UK and to £11.50 in London. The retailer revealed that the average store colleague [...]