London markets jump on industrials rally January 12, 2022 London markets jumped today driven higher by a strong rally among industrial stocks. The capital’s premier FTSE 100 index closed 0.81 per cent higher at 7,551.72 points, while the domestically-focused FTSE 250 index, which is more aligned to the health of the UK economy, squeezed out 0.08 per cent of gains to reach 23,047.16 points. [...]
Lingerie tycoon Baroness Mone sued for unlimited damages after reports of racist remarks January 11, 2022 Millionaire lingerie tycoon Baroness Michelle Mone is being sued for unlimited damages after allegations of racist remarks. Financial consultant Richard Lynton-Jones has filed a writ against the retail tycoon in London’s High Court, claiming Mone sent him racist WhatsApp messages. Lynton-Jones, who has Indian heritage, claimed that Mone sent him a message calling him “a [...]
London markets rebound as retailers lead FTSE 100 higher January 11, 2022 London markets rebounded from a poor day yesterday, led higher by investor sentiment toward retailers strengthening after a strong Christmas trading period. The capital’s premier FTSE 100 index climbed 0.39 per cent to 7,474.07 points, while the mid-cap FTSE 250 index, which is more aligned to the health of the UK economy, added 0.59 per [...]
London’s Looop snapped up by SoftBank-backed ed-tech firm for $20m January 11, 2022 London-based corporate learning company Looop has been snapped up by SoftBank-backed education technology firm 360Learning for some $20m. Looop, which works with fintech giants Klarna and Monzo, as well as retail heavyweight Asos, is 360Learning’s first-ever acquisition. “Now as learning and development grapples with the triple hit of remote work, the Great Resignation, and the [...]
Retail in 2022: Leisure explosion and flexible landlords will give the UK high street a much-needed boost this year January 11, 2022 Demand for property outside traditional retail and pragmatic landlords have given “renewed optimism” for some high streets and shopping districts despite the toll of the pandemic, according to industry experts. The pressure from lockdown measures, after a steady decline in recent years, saw vacancy rates across shopping destinations hit record levels in the second quarter [...]
London notches best year for floats since 2007 January 11, 2022 A wave of listings flooded London markets last year as private firms pushed to capitalise on strong investor demand, reveals new figures published today. Some 121 businesses floated in the City in 2021, the highest volume since 2007, according to research carried out by consultancy EY. Newly listed firms raised over £16bn in the capital [...]
Central London continues to feel impact of Plan B measures January 10, 2022 Central London has suffered another blow to its recovery as shoppers stay away from the city’s retail hotspots. Footfall in the West End and other areas dropped by more than a quarter (25.6 per cent) last week compared to the week before. “With employees continuing to work from home the drop in footfall in Central [...]
Santander lures Barclays veteran Jane Galvin away from HSBC in banking war for top talent January 10, 2022 Santander UK announced this morning the appointment of Jane Galvin as Head of Corporate Clients within its Corporate and Commercial Banking (CCB) division. Galvin, a City heavyweight who made a name for herself during three decades at Barclays, will start at the beginning of February and will report directly to CCB head Tim Hinton. She [...]
Sainsbury’s reveals 5.3 per cent pay hike for shop staff in £100m investment January 7, 2022 Sainsbury’s has announced it will be investing £100m into pay increases for staff, with a basic hourly pay of at least £10. Basic hourly pay for Sainsbury’s and Argos store workers will rise to £11.05 for inner London and £10.50 in outer London, the supermarket revealed on Friday. The company said it was also increasing [...]
Sadiq Khan hits out at rail union over planned six-month Tube strike January 6, 2022 Sadiq Khan has hit out at the UK’s largest rail union for its planned Tube strike tomorrow, saying that the long-term industrial action will “cause further devastation” for London’s economy. London Underground staff from the The National Union of Rail, Maritime and Transport Workers (RMT) will walk off the job on Friday and Saturday evenings [...]