The Notebook: Dogs in the office, Next’s triumph, and the Madoff documentary January 8, 2023 The Notebook is a new addition to City A.M.’s daily offering, giving the City of London’s movers and shakers the chance to let a few things off their chest. In this first edition – it’s our editor, Andy Silvester, penning his thoughts. ONE of the things that fascinated me as a child were ant farms [...]
FTSE 100: Anglo American and Glencore power London premier index to 2019 high January 6, 2023 The FTSE 100 has extended its strong start to the year by closing at its highest level since the summer of 2019 today, powered by mining giants in London trading. The capital’s premier index clinched the landmark after a late afternoon surge, finishing up 0.87 per cent at 7,699.49 points. Miners led the FTSE 100 [...]
How the Chinese New Year and covid rule changes could give a tourism boost to London’s West End January 6, 2023 London’s West End is looking forward to the return of Chinese tourists this month, after the easing of the nation’s zero-Covid policy – ahead of the Chinese New Year. China has seen a surge in Covid infections in recent months, with EU countries introducing testing requirements for travellers. Travel from and to China will be [...]
FTSE 100 Close: Standard Chartered pops after shock takeover rumours emerge January 5, 2023 London’s FTSE 100 extended its hot start to 2023 today, helped along the way by Asia-focused Standard Chartered surging after news emerged rival lender First Abu Dhabi Bank has been mulling snapping up the firm. Its shares shot up around a fifth during early exchanges in the City today, before paring back to eventually close [...]
Greggs: Baker on a sausage roll as it plots further expansion across UK January 5, 2023 Greggs has said it is on track for 150 net new stores this year as its value-proposition protects it from a wider consumer down-turn. In a fourth quarter trading update, the sausage-roll seller said its sales stood at £1.5bn, as the firm bounced back after experiencing pandemic-related disruption last Christmas. Sales had surged 23 per [...]
Next: Prices to rise in the spring – but boss hopeful inflation will ease in second half January 5, 2023 Next has warned it will lift prices further in the spring as the retailer’s chief said he was optimistic that inflation would let up in the second-half of the year. The fashion firm hiked its full-year profit guidance after seeing better than expected sales over the Christmas shopping period. The high street staple lifted its [...]
Bank of England publishes list of questions asked by suitors for its CBDC wallet January 4, 2023 The Bank of England has revealed more than 70 questions asked by applicants keen to win the contract create a wallet for its CBDC project.
Sainsbury’s boosts pay as part of £205m inflation package January 4, 2023 Sainsbury’s is investing £185m in pay bumps for staff as the supermarket looks to retain staff during a period of high inflation and rising cost of living. Pay will increase to £11 per hour for retail staff, with London workers paid £11.95. It represents a 10 per cent pay hike over the past year when [...]
January blues: Rail strikes hit the return to work – with even London transport affected January 3, 2023 Rail strikes are severely reducing services across the UK train network – with commuters forced to work from home on the first working day of the new year. Some Transport for London services are also affected, with the Elizabeth Line and the London Overground the most badly hit. Some other services – including the stretch [...]
Mining and retail stocks push FTSE 100 into the green after Christmas shopping boost December 29, 2022 The FTSE 100 has been given a boost by its top retail stocks as investors cashed in on the post-Christmas sales shopping, and as China is set to ease its Covid restrictions for inbound travellers from January 8. Among the top performers on London’s leading index on Wednesday were JD Sports Fashion, Next, Kingfisher and [...]