London-listed retailers plummet on expected spending cool down April 24, 2022 An expected slowdown in consumer spending in response to the cost of living crunch hobbling household finances has whacked London-listed retail stocks. The bucket of top retail shares in the City, known as the FTSE 350 retail, has fallen 21 per cent in the year so far, making the sector one of the worst performers [...]
Week ahead: City eyes cladding bill impact on house builders’ bottom lines April 24, 2022 Signs of the negative impact of the government turning to home builders to fix the cladding crisis is likely to draw City traders’ gaze in a week of jam packed corporate and economic announcements. London’s capital FTSE 100 index dipped 0.78 per cent to 7,521.68 over the last week, while the mid-cap domestically-focused FTSE 250 [...]
Tech Weekly: Robinhood aims for the UK April 22, 2022 In this week’s episode, Lily discusses investment app Robinhood’s acquisition of FCA-approved and UK-based crypto startup Ziglu. Charlie also discusses payments startup Super Payments’ $30m funding boost; and online pension provider PensionBee’s new listing on London’s top market. Episode transcript (auto-generated) Host 0:07 Hello and welcome to Tech Weekly, a podcast by City A.M. where we go through [...]
The City View: Re-Leased CFO Sam Caulton on real estate’s brave new world April 21, 2022 Today Andy Silvester talks to Sam Caulton, CFO of Re-Leased, a commercial property management proptech. They discuss his journey to the role; why the commercial real estate sector’s been in desperate need of change, and how he effecting such change with Re-Leased; the impact of Covid on the sector; and the importance of being in [...]
UK housing market shows signs of stability with Brits’ reluctant to spend April 21, 2022 The UK’s housing market could be returning to stability, say analysts, before deals pick up as warmer weather blankets the country. Residential transactions for March have plunged more than a third in comparison with the same month last year, according to the government’s latest figures, after a continued, pandemic-era, buying frenzy. Although deals have climbed [...]
THG boss Matt Moulding slams ‘numerous’ proposals from suitors as unacceptable April 21, 2022 E-commerce beauty firm THG has dubbed a number of approaches from potential bidders as “unacceptable.” There had been speculation that the online retailer – which owns brands including Cult Beauty and Lookfantastic – could be prime for a takeover, after experiencing a turbulent year. In a trading update, CEO Matthew Moulding said the board had [...]
UK missing out on lucrative cannabis revenues with ‘not fit for purpose’ laws April 20, 2022 Current cannabis laws are “not fit for purpose”, according to one of Britain’s top think tanks, as the country misses out on lucrative revenues and wrestles with higher crime. Britain stands to gain billions each year, should it adopt more liberal reforms such as the US and the Netherlands, researcher at the Social Market Foundation, [...]
Retail footfall lifted by shoppers stocking up for long Easter weekend April 19, 2022 Shops saw a footfall injection in the run up to Easter as Brits flocked to high streets to make the most of the good weather. Footfall during Monday to Thursday last week was up by an average of 15 per cent, with a 21.9 per cent rise on Thursday. Footfall across all retail destinations rose [...]
WH Smith: Orders from Funky Pigeon website suspended after cyber attack hits cards firm April 19, 2022 WH Smith has said Funky Pigeon, its greetings card subsidiary, fell victim to a cyber security incident last week. In an update on the London Stock Exchange, the stationary giant said orders from the Funky Pigeon website have been temporarily suspended. The online retailer was affected by an incident on Thursday 14 April. Customer payment [...]
Jacob Rees-Mogg: Civil servants must ‘rapidly return’ to offices April 19, 2022 Ministers are reportedly being told to send a “clear message” to civil servants for a “rapid return” to offices. Up to three quarters of staff are still working from home, according to The Telegraph, as Whitehall sources accuse a “silent majority” of officials of not “pulling their weight. Jacob Rees-Mogg, the minister for government efficiency, [...]