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.
Shoppers flock to Oxford St in West End’s busiest week since last November February 3, 2022 The West End has enjoyed busiest week since November 2021 following the easing of Covid restrictions last month. In the first full week since plan B measures eased, areas including Covent Garden and Oxford St, saw a return of shoppers. Footfall hit 79 per cent of pre-pandemic levels, the highest seen since last autumn, before [...]
Green shoots of recovery for UK high streets after Omicron measures ease February 3, 2022 The lifting of plan B restrictions spurred the UK back to shopping destinations but January footfall dropped on December levels. According to the latest footfall insight data from Springboard, footfall worsened slightly in January over the month as a whole, to 20.8 per cent below pre-pandemic levels. This was compared to footfall that was down [...]
Middle-class favourite Ocado leads FTSE 100 higher February 2, 2022 London markets climbed this morning as middle-class favourite and online supermarket Ocado leads the FTSE 100 higher. The capital’s premier FTSE 100 index added 0.47 per cent to reach 7,571.48 points, while the domestically-focused FTSE 250 index, which is more aligned with the health of the UK economy, gained 0.72 per cent to hit 22,327.31 [...]
Amazon adds 25,000 workers amid e-commerce boom February 2, 2022 Amazon added 25,000 British workers to its payroll last year as booming demand for e-commerce led to a surge in recruitment at fulfilment and sorting centres.
British Land splashes £157m on London warehouses amid logistics investment boom February 2, 2022 Real estate investment firm British Land has snapped up three warehouses in Wembley as it looks to tap into soaring demand for logistics hubs across London.
City Moves: Who’s switching jobs in the Square Mile this week? February 2, 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. finnCap Group finnCap Group has posted an HR veteran to its board, who has joined as a non-executive director. Annette Andrews brings some three decades worth of experience to the role, from across Lloyd’s of London, which [...]
Uncertainty from our leaders is keeping our economic recovery wavering on the brink February 2, 2022 In November last year, the UK’s total GDP output finally regained its pre-pandemic level. But although the economic recovery is on an upward trajectory, there is a disconcerting stop-start hesitancy to it. A reasonable indicator of where the economy stands in any given month is the purchasing managers’ index which shows the prevailing direction of [...]
Crypto VC boom shows no sign of stopping in 2022 February 2, 2022 Last year saw an explosion in crypto VC investment, with $31.6bn poured into projects in 2021. The momentum shows no sign of stopping in 2022.