Consumer confidence stalls amid fears of new variants and the cost of coronavirus April 23, 2021 Consumer confidence stalled in April, as consumers took a more guarded view of the future amid new Covid variants emerging. The closely-watched consumer confidence index from researcher GfK jumped just one point in April to minus 15, a significantly more subdued movement than March’s seven-point leap. Coronavirus restrictions are slowly easing in the UK, with [...]
Hedge fund Odey takes short position against Deliveroo after disastrous IPO April 22, 2021 Odey Asset Management has taken a short position against Deliveroo after a disastrous start to the delivery firm’s London IPO. Odey fund managers James Hanbury and Jamie Grimston took the bet on Deliveroo’s first day of trading, according to investor documents seen by the Financial Times. Deliveroo made its debut on 31 March with a [...]
Top-end homes in Mayfair and St James’s offloaded at 20 per cent below asking price April 22, 2021 Several prime central London postcodes are seeing homes sell at a considerable discount of up to 20 per cent per square foot, according to new data shared with City A.M. this morning. In many areas there is a notable difference between the expectations of home sellers and the price that buyers are willing to pay, [...]
London Mayoral elections: Whoever wins, scratchy relations with Downing Street must be mended to fight for the capital April 22, 2021 The Covid crisis has laid bare some of the UK’s harshest inequalities, nowhere more starklythan in London. East London boroughs have seen some of the highest death rates in thecountry, and London’s unemployment rate has soared. But other boroughs have some ofthe country’s lowest death rates, and the city that has lost most jobs has [...]
As the City reopens, small businesses reliant on office workers cross their fingers and hope April 21, 2021 As the City reopens, small businesses reliant on office workers cross their fingers
Going underground (again): Tube journeys up 40 per cent as hospitality reopens April 21, 2021 The number of people taking public transport in London surged back to levels not seen since October last week as punters flocked back to pubs, bars, and shops as they reopened. In total, there were about 1.4m Tube journeys made on 16 April, up from around 1m a week before – an increase of 40 [...]
Bitcoin gets seal of approval as Baillie Gifford ploughs $100m into London crypto firm April 21, 2021 One of the UK’s most well-know asset management firms has invested a hundred million dollars into UK-based cryptocurrency company Blockchain.com.
Mulberry ramps up sustainability pledges as retailers scramble to boost environmental reputations April 20, 2021 Mulberry has become the latest retailer to ramp up its sustainability measures as the spotlight on environmental and social issues has intensified in the wake of fast fashion scandals. The designer accessories brand today announced it will buy back, resell or repurpose any Mulberry bag when it becomes unusable. It has also pledged to achieve [...]
Vast Italian market Eataly set to open in the heart of the City April 20, 2021 The Square Mile will soon be home to vast Italian market Eataly, which has already seen success in cities including New York, Boston, Los Angeles and Chicago. Broadgate Market, London’s largest pedestrianised neighbourhood, will host the 42,000 sq ft venture, which will include take-away, retail, and terrace dining. Eataly is slated to open on 29 [...]
Primark owner restores dividend as high street stores reopen April 20, 2021 The owner of Primark today said it would restore its dividend and pay back furlough money as it issued an upbeat outlook following the reopening of retail stores. Associated British Foods (ABF) halted its payout last year due to the outbreak of Covid-19, which sparked an almost £1.5bn hit to its first-half Primark sales. The [...]