Shares in Russian retailer Fix Price tumble after sanctions hit VTB March 1, 2022 Shares in London-listed Russian retailer plunged yesterday after it suspended a planned share buyback programme due to sanctions slapped on the firm’s bank, the state-owned Russian lender VTB Capital.
Steepest rise since 2013: Train fare hike of almost 4 per cent to hit commuters from TODAY March 1, 2022 Train passengers in England and Wales face an increase in fares of up to 3.8 per cent from this morning. It is the steepest increase since January 2013, according to figures from industry body the Rail Delivery Group (RDG). Therefore, the Government has been accused of adding to the cost of living crisis following the [...]
Exclusive: Ultimate Products’ airfryer maker brand receives €1m order from German retailer March 1, 2022 Homeware giant Ultimate Product has said its newly snapped-up kitchen electrical brand has inked a €1m order from a leading German hypermarket retailer. Ultimate Products, which owns legacy homeware brands including Salter and Beldray, told CityA.M. exclusively its German brand Petra had received its first substantial order from an unnamed retailer. The order is for [...]
Our housing system needs to find flexibility in how we use undeveloped brownfield land March 1, 2022 The housing crisis is an oft used term to describe a wide array of problems facing Britons. There’s cladding problems, safety problems, access problems and affordability. But the common denominator is the lack of alternative housing stock. For those struggling to access social housing lists, those in need of emergency accommodation, or even students in [...]
London retail recovers after Storm Eunice footfall hit February 28, 2022 London’s shopping destinations rebounded last week as crowds returned to the heart of the capital with gusto. Footfall leaped 17 per cent in central London last week, compared to the week prior, according to retail experts Springboard. It was also 374.3 per cent busier compared to the same week last year, when the country was [...]
Aviva and Allianz partner on £500m City office and retail development February 28, 2022 Aviva Investors and Allianz Real Estate have entered a partnership for a massive ongoing development in the heart of the City of London. The joint venture, 1 Liverpool Street and 101 Moorgate with a gross development value of around £500m, are central to the Crossrail development site in the Square Mile. “London is one of the [...]
Distribution giant Bunzl reports slip in profits despite boost in revenues February 28, 2022 Distribution giant Bunzl reported a slip in profits today despite revenues rising 1.7 per cent, as its food and retail divisions rebounded from a pandemic slow down.
Ukraine invasion hits global markets as £77bn is wiped off FTSE 100 in worst day in years February 25, 2022 Almost £77 billion was wiped off the value of London’s top 100 listed companies on Thursday as global markets plummeted following Vladimir Putin’s invasion of Ukraine. As fighting continues between Russian aggressors and Ukrainian defenders, traders across the world sold off shares as they tried to figure out the consequences. In London, the impact was [...]
City Moves: Who’s switching jobs in the Square Mile this week? February 25, 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. BDO Accountancy and business advisory firm BDO has further strengthened its tax expertise with the appointment of two new partners. Joining the firm in London from Leyton, Radeep Mathew is set to focus on advising clients on issues around R&D [...]
IKEA to inject £1bn into London over the next three years February 24, 2022 IKEA is set to inject £1bn into London over the next three years, as it opens the doors to its first small store in Hammersmith. The Swedish furniture retailer, known for its large warehouse stores, is looking to branch out into city centres with a smaller, more accessible offering. The West London store, a quarter [...]