London a £106bn key driver of surging global online sales in wake of pandemic March 10, 2022 London was at the forefront of soaring global online shopping, with record-breaking investment in the capital last year. As the world emerged from the pandemic, retailers took in more than $140bn (£106bn) from web-based sales in 2021 – more than double the previous year. Following numerous lockdowns which led to a spike in virtual shopping, [...]
The City View: US and UK boycott Russian oil, and Susannah Streeter and Michael Hewson on inflationary pressure March 8, 2022 Today Andy Silvester sits down for a chat with Hargreaves Lansdowns’ Susannah Streeter and CMC Markets’ Michael Hewson. They discuss trading being suspended on the London Metal Exchange after a record price spike in nickel; the Bank of England assessing inflationary pressures; and a whole mélange of financial woes for Brits as energy bills, taxes, [...]
Pi Labs unveils $90m fund to target ‘proptech’ startups March 8, 2022 London-based venture capital firm Pi Labs has unveiled a new $90m fund today as it looks to supercharge its investment into real estate tech startups.
Fuel be sorry: Record petrol prices could hurt retail sector warn experts March 7, 2022 Experts suggest record prices at the pumps could hurt the retail sector and potentially stall the UK's ecommerce boom.
Zara and Burberry shut shops in Russia while John Lewis looks to ‘mitigate exposure’ to country March 6, 2022 Fashion powerhouses have halted trading in Russia following its invasion of Ukraine, citing “operational challenges”. Luxury goods maker Burberry has temporarily shuttered its three stores in Russia, The Times reported. According to the newspaper, the designer brand’s spokesperson said Burberry would continue to monitor developments and declined to address the invasion directly. It comes after [...]
London faces logistics space crunch as e-commerce firms take over city March 4, 2022 London would run out of available industrial space within five months, should the current take-up rate continue, amid an e-commerce boom. The capital and the South East are facing running out of industrial and logistics spaces, according to a report published today by London First, in partnership with CBRE. It comes as the pandemic has [...]
Fashion retailers Boohoo and ASOS suspend sales to Russia in solidarity with Ukraine as M&S suspends shipments March 3, 2022 Fast fashion retailer Boohoo has become the latest firm to announce it has suspended sales of clothes to Russia. The Manchester-based e-commerce business joins brands such as Asos and Next, as well as designer names such as Burberry, in making a stand. In a update published on the London Stock Exchange, Boohoo said it was [...]
Council says it wants to rid central London of ‘candy and tat shops’ March 3, 2022 Westminster City Council has outlined its intention to rid central London’s Oxford Street of “questionable candy and tat shops” as a part of a £150m rejuvenation. Rachael Robathan, leader of the council, tonight said “Oxford Street is Europe’s hardest hit street” by Covid and that the decline will continue without a serious intervention. Footfall on [...]
Editorial: This Tube strike is self-defeating in the extreme March 3, 2022 When Ukrainian citizens are sheltering in underground stations, it can at best seem glib, or heartless, to complain about our own trivial woes. A tube strike is a trivial woe; some will work from home when the RMT go on strike today, some will walk a little further than usual, some may even try getting [...]
Retail recovery in ‘sweet spot’ last month as cost of living could discourage shoppers March 3, 2022 High street experts were pleasantly surprised at the robustness of retail footfall last month, but have warned the cost of living crunch may soon deter shoppers. Footfall strengthened a little in February over the month as a whole, to -20.7 per cent below pre-pandemic levels, from -20.8 per cent in January, according to retail experts [...]