Turn the volume down: London could be revolutionised by the silent automation of the noisiest parts of city life July 22, 2021 Cities have always been the future. Development is nearly always metropolitan, regeneration usually urban. London is one of the world’s major cities, and we might expect it to be one of the fastest to bounce back from the turmoil of the last year. But will a post-pandemic world view cities in the same way? Covid [...]
US stocks rise on strong quarterly earnings July 21, 2021 US stocks rose during the open on Wednesday after investors were boosted by a string of strong company quarterly earnings. The blue chip S&P 500 rose 0.48 per cent, lifted by gains in cyclical stocks. The tech-heavy Nasdaq added 0.39 per cent, while the Dow Jones was up 0.69 per cent. Yields on 10-year US [...]
London Mayor announces funding for capital’s high streets post-pandemic July 21, 2021 The Mayor of London, Sadiq Khan, has announced funding for 35 projects across London to ensure the protection of the capital’s high streets post-pandemic. The high streets of London were heavily impacted by the pandemic. The British Retail Consortium estimate there are about 5,000 fewer shops since the pandemic started. The high streets have also [...]
Post-Brexit: M&S chairman sounds alarm on higher prices in Northern Ireland July 21, 2021 The chairman of Marks & Spencer has warned that consumers in Northern Ireland will have to contend with higher prices and fewer products if current post-Brexit customs rules come into force this year. Greater bureaucracy involved in goods entering Northern and the Republic of Ireland is “threatening” Marks & Spencer, Archie Norman said in a [...]
‘I told staff to delete the app’: Hospitality reacts to pingdemic crisis July 20, 2021 While the government was hailing the arrival of so-called “freedom day” yesterday, the threat of rising Covid cases and the “pingdemic” forcing staff to self isolate has left the beleaguered hospitality industry with little to celebrate. One restaurateur told City A.M: “Our ability to operate hangs in the balance by some fairly crude geolocation tech”, [...]
Some businesses to be eligible for exemption to self-isolation rules July 20, 2021 Businesses will be able to apply for exemptions to the government’s self-isolation rules amidst fears the so-called pingdemic will cripple the economy. The Prime Minister’s official spokesman said vital businesses that maintain the supply of food or medicines, like supermarkets and pharmacies, could be eligible for the exemption. It comes as up to 1m people [...]
Number 10 slaps down London minister for saying people can ignore Covid app July 20, 2021 Downing Street has quickly slapped down London minister Paul Scully for saying it is optional to self-isolate after being pinged by the NHS Covid Test and Trace app. A Number 10 spokesperson said it is “crucial people isolate when they are told to do so” in a clear rebuke to Scully. The minister said this [...]
HMV backs the High Street by putting in place plans for 10 new stores July 20, 2021 Music and entertainment retailer HMV has announced plans that it plans to open 10 new stores as it continues to show faith in the High Street. It includes plans for a flagship London site. Following its decline into administration two years ago its Oxford Street store – along with many others – were closed. However, [...]
Bridgepoint has taken the unusual step to plan an IPO – how does private equity go public? July 20, 2021 All eyes turned to Bridgepoint this month, after the private equity firm took the unusual step to plan an IPO on the London Stock Exchange. With over £23bn under management, the company hopes to raise over £300million as part of the initial public listing. It is the first-time in nearly three decades a UK-based private [...]
Global markets plummet as Delta variant fears intensify July 19, 2021 Intensifying fears over the rapid spread of the highly transmissible Delta variant of Covid triggered a sharp sell-off in global markets on Monday. All US benchmarks nursed heavy losses during today’s session. The blue-chip S&P 500 and Dow Jones plummeted 1.9 per cent and 2.4 per cent respectively, while the tech-heavy Nasdaq lost 1.4 per [...]