CarFinance 247 reports 11 per cent increase in prices following used-car market boom February 8, 2022 UK motor finance platform CarFinance 247 has registered an 11 per cent increase in the average price of vehicles sold going up from £9,364 in October 2020 to £10,434 a year later. As a result of supply chain issues and strikingly high levels of demand, prices have gone up almost 30 per cent on 2019 [...]
Perfect storm of rising costs to hit retail return February 8, 2022 Total retail sales jumped 7.5 per cent during January compared to the same month in 2020. However, retail bosses have warned consumers and firms face a challenging few months ahead with a perfect storm of rising costs. Shoppers were less eager to buy non-food items in stores over the three months to January, compared to [...]
City Moves: Who’s switching jobs in the Square Mile this week? February 8, 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. Hilton Hiltonhas appointed a travel industry veteran to take on the role of vice president of focused service operations across Europe, the Middle East and Africa (EMEA). Pauline Wilson, who brings more than 25 years of experience to [...]
London receives cap reduction in government crackdown on private parking fines February 7, 2022 London will receive a smaller overall reduction as part of a government crackdown on private parking fines which will protect motorists from “aggressive debt collection and unreasonable fees.” Under a new parking code of practice introduced by the government today, the cap for private parking fines will be cut in half, going from £100 to [...]
Legal & General snaps up Spitalfields offices, with management fund portfolio now worth £3.8bn February 7, 2022 Legal & General’s investment portfolio has swelled to £3.8bn, with five fresh acquisitions across the office, leisure and industrial sectors. The new deals total £150m and cover around 600,000sq ft, including the purchase of 20,821 sq ft of offices at 45 Folgate Street in Spitalfields for £26.8m Through its management fund, L&G has also purchased [...]
British electric van maker Arrival prepares for unconventional US debut February 7, 2022 British electric van maker Arrival is preparing for its US debut, choosing Charlotte, North Carolina, as its US headquarter. The company’s new offices are set to be inaugurated next month, while production facilities – one for vans in Charlotte and one for buses in South Carolina – will open later this year. The automotive manufacturer [...]
Trainline seeks Whitehall reassurance as rival ticketing app spooks businesses February 6, 2022 Trainline’s bosses have been fretting over a possible government-funded ticketing competitor, saying it could destroy the business. The group has reportedly sought reassurance from Whitehall that ministers’ plans to create a new ticketing app will not undermine its business, the Sunday Telegraph reported. According to Peel Hunt analyst James Lockyer, after a meeting where Trainline’s [...]
Khan urges government to ‘get a grip’ on cost of living crisis February 5, 2022 Mayor of London Sadiq Khan has called on the government to “get a grip” on the cost of living crisis, after energy prices were confirmed to rise by £700 this year. A new energy price cap coming into effect in April will see customers paying an average of £700 more a year. With runaway inflation, [...]
Shoppers expected to cut back as country faces deepening cost of living squeeze February 4, 2022 January marked the eleventh consecutive monthly of like-for-like retail sales as shoppers have returned to London’s shopping hotspots. However, retail chiefs warned that the cost of living squeeze may soon curtail Brits’ spending habits. Total like-for-like sales, combined in-store and online, increased by +51.9 per cent in January, according to data from accountancy firm BDO. [...]
London markets deflate following interest rate hike February 4, 2022 London markets have contracted a day after the Bank of England pushed ahead with interest rate hikes at successive meetings for the first time since 2004.