Oxford St still feeling side effects of Covid as footfall recovery lags behind March 30, 2022 Oxford St has struggled to return to its pre-pandemic glory with football down 46 per cent on pre-Covid levels. Overall, high street footfall levels were down 23 per cent in February, according to an RSM analysis of data from Datscha. International travel restrictions have dampened the numbers of shoppers in central London hubs. Northern shopping [...]
City A.M. Awards 2022: Analyst of the Year March 30, 2022 The City is back, and so are the City A.M. Awards, recognising the best of the Square Mile, Canary Wharf and London’s business community – which has shown shown resilience, innovation and adaptability like never before over the past year. We’re delighted to host what will be a wonderful celebration of the capital’s rebound, but [...]
Crypto markets flat as MicroStrategy announces another massive Bitcoin purchase March 30, 2022 The price of Bitcoin is currently holding steady at about $47,400 with the Ethereum price treading water at $3,400.
Ikea to close Tottenham store in £1bn plans to speed up home deliveries in London March 30, 2022 Ikea has revealed it will be shutting shop at its Tottenham store, with some 450 employees set to be impacted. However, Ikea said it has plans to retain as many individuals as possible. It is also planning to create some 600 vacancies in the capital before the store shuts. The North London store will remain open [...]
Huel: No rush for IPO as meal replacement drinks biz passes £100m revenue March 30, 2022 The CEO of start-up Huel has said its £1.50 meal replacement drinks offer struggling households affordable nutrition as inflation skyrockets. “We feel we can support [people in the cost of living crunch,] given our products start at £1.50 a meal,” CEO James McMaster told CityA.M. Households are facing sharp grocery bill increases this spring, as [...]
Polymetal reports boost in Russian demand for gold as sanctions hamper exports March 30, 2022 Russian gold miner Polymetal said it remains resilient to the impact of sanctions today after a boost in demand from Russians looking to store their cash in the traditional safe haven asset.
GPE snaps up London’s Fashion Retail Academy building for over £36m March 30, 2022 GPE, formerly known as Great Portland Estates, has snapped up the government and Philip Green-backed Fashion Retail Academy building for £36.5m. While the property development and investment firm has bought the building, in the heart of Fitzrovia, it will remain home to the fashion school until it relocates to a larger building. The building, a [...]
Retailers lead the way in London after industrials give up gains March 29, 2022 High street retailers lifted London’s top indexes today despite a sharp drop in oil prices prompting investors to ditch industrial giants. The capital’s premier FTSE 100 index climbed 0.86 per cent to reach 7,537.25 points, while the domestically-focused mid-cap FTSE 250 index surged two per cent to 21,491.97 points. Traders are seemingly upbeat about the [...]
Deliveroo goes for speed as it joins forces with WHSmith for new 20 minute delivery service March 29, 2022 Online delivery giant Deliveroo said this morning it will soon be able to deliver a raft of products, from printer cartridges to bestselling novels, to customers in under 20 minutes. The company has joined forces with WHSmith as it continues to expand further from its traditional takeaway delivery business. It is Deliveroo’s first major leap [...]
City Moves: Who’s switching jobs in the Square Mile? March 29, 2022 City A.M.’s Millie Turner provides a roundup of the most important hires and job moves across the City, every morning. Email citymoves@cityam.com to be featured. Dominvs Group London-based real estate developer Dominvs Group has appointed the former CEO of Travis Perkins Properties (TPP) as a senior advisor. Martin Meech steps onto the board with more than four decades of property experience, spanning M&A, strategic development, finance structuring, and [...]