Hotels cashed in on scorching summer but face gloomy winter freeze August 30, 2022 British hotels cashed in last month during a scorching heatwave, but the industry fears its profits will freeze up as the UK prepares for bleak economic times. Holiday destinations across the country had a record-breaking summer with a new survey showing more than 77 per cent occupancy in July compared to 73 in June. This [...]
Exclusive: Grind teams up with Soho House to conquer the States as coffee brand opens first branch in LA August 30, 2022 City A.M. can reveal this morning that cult London coffee brand Grind has opened its first site outside the UK by taking its business model across the pond. David Abrahamovitch, the company’s CEO and co-founder, told this paper today that Grind the chain’s first non-London branch has opened its doors in Los Angeles, California. In partnership with [...]
FTSE Reshuffle: Abrdn head for trap-door from the FTSE 100 August 29, 2022 FUND MANAGER Abrdn is set to exit the FTSE 100 this week as part of a wider FTSE reshuffle. Shares in the asset manager have fallen just shy of 40 per cent since the turn of the year, with analysts blaming global uncertainty and economic troubles. “Huge geopolitical uncertainty, sky high inflation and worries about [...]
London’s FTSE 100 struggles for direction ahead of Jackson Hole August 25, 2022 London’s FTSE 100 struggled for direction today driven by investors seemingly holding positions until central bankers signal at Jackson Hole how firm they will be with taming inflation. The capital’s premier index added 0.11 per cent to reach 7,479.74 per cent, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health [...]
Unite warns of disruption to Notting Hill Carnival as bus drivers strike on Bank Holiday August 24, 2022 Unite has warned of travel disruption for those going to the Notting Hill Carnival as over 1,000 bus drivers working for London United are set to strike during the Bank Holiday weekend. Striking bus drivers operate from several depots including Park Royal, Shepherd’s Bush and Stamford Brook, which serve routes close to the carnival. Transport [...]
Sharpening inflation concerns weigh on FTSE 100 retailers August 23, 2022 Sharpening concerns over high inflation triggering a slowdown in consumer spending weighed on London markets today. The capital’s premier FTSE 100 index dropped 0.61 per cent to 7,488.11 points, while the mid-cap domestically-focused FTSE 250 index, which is more aligned with the health of the UK economy, fell 0.99 per cent to 19,306.89 points. Retailers [...]
30-min weekly shop: Uber Eats and Co-op team up for rapid delivery service August 23, 2022 Co-op and Uber Eats are partnering up for a speedy service as the grocery sector’s battle for convicent delivery hots up. On the Uber Eats app, shoppers can order more than 6,000 products from around 1,000 Co-op food stores. Groceries are to be delivered in as little as 30 minutes, the firms said on Tuesday [...]
M&S doubles down on plans to demolish Art Deco Oxford St store August 21, 2022 M&S is doubling down on its plans to demolish its flagship Marble Arch store, as its CEO describes a trip to Oxford St as “dismaying.” The supermarket is embroiled in a battle with heritage campaigners over plans to raze its Art Deco store in the West End. M&S says the store has “asbestos throughout,” and [...]
Sunday Sitdown: ‘There is a demand to return to the office’, says boss of City favourite T.M. Lewin August 21, 2022 British menswear brand T.M. Lewin – for decades a favourite among City workers – is back. Two months after the heritage brand struck a last-minute rescue deal with shirtmaker Limited, the company has managed a re-launch after the pandemic nearly killed off the Square mile favourite. Established over 120 years ago, T.M. Lewin is steeped in [...]
Downing tools: Investors pile into bets against B&Q owner as DIY boom slows August 18, 2022 The troubled owner of retailer B&Q has become the most shorted stock on the London Stock Exchange this week as two top investors revealed hefty bets against the firm.