City may never be the same as five-day-a-week commute ends, says former Bank of England deputy March 29, 2021 Home working is here to stay and the end of the five-day-a-week office commute will change the shape of London dramatically, according to former Bank of England deputy governor Sir Charlie Bean. The switch will impact the economy “in ways we don’t fully foresee”, the former deputy governor for monetary policy at the Bank said [...]
More than 41,000 UK hospitality venues have outdoor space for 12 April reopening March 29, 2021 More than 41,000 pubs, bars and restaurants have some kind of outdoor space which could allow them to reopen on 12 April, according to new figures published this morning. The latest monthly Market Recovery Monitor by CGA and AlixPartners has revealed that just over 38 per cent of licensed premises in the UK say they [...]
Cazoo confirms it will go public in merger with US SPAC March 29, 2021 Cazoo has agreed to a deal with a New York-listed SPAC in a deal which values the online used car platform at $7bn. The company, which was founded by serial entrepreneur Alex Chesterman in 2018, will merge with Ajax I, a blank-cheque vehicle led by billionaire investor Dan Och. The deal, which will see Cazoo [...]
Transport for London to face funding squeeze as journey numbers will ‘never hit pre-Covid peak’ March 29, 2021 Transport for London to face funding squeeze as journey numbers will never hit pre-Covid peak
FTSE 100 and Wall Street rise on recovery optimism March 26, 2021 FTSE 100 climbed further this afternoon as Wall Street opened higher on renewed economic recovery optimism. London’s blue-chip index is trading 0.9 per cent higher this afternoon as higher retail sales triggered a new wave of confidence in the economic recovery. Mining stocks including Rio Tinto, Anglo American and BHP pushed higher after a slow [...]
Are US stimulus cheques really going into Bitcoin? March 26, 2021 Persistent reports keep suggesting that Americans are keen to plough their $1,400 stimulus cheques into Bitcoin - but is that really the case?
Covid-19, a year on: the need for a more diverse UK economy March 26, 2021 In this series, City A.M. looks back at the last year of the pandemic and Covid restrictions and takes stock of its impact on industries and issues at the heart of British society. Read more: Read the full Covid-19, a year on series here. The UK’s economy was hit by a 10 per cent drop in GDP [...]
UK knows EU will not grant the City access to financial services: Lord Hill March 26, 2021 There is a growing realisation that the UK should not wait for the EU to give the UK access for financial services but get on with building a more competitive, outward-looking City of London, according to Jonathan Hill. Lord Hill, a former EU Commissioner for financial services who recently authored a report on easing the [...]
DEBATE: Should we have a right to work from home? March 25, 2021 Alison Newton, co-head of real estate at Addleshaw Goddard says No Up until March 16 last year, there was a common view among city firms that those who work from home were in some way slacking off. Coronavirus has given us a great opportunity to bury the presenteeism principle, demonstrating that working from home can [...]
The future of commercial property post-Covid March 25, 2021 Will Fulton, Lead Manager, UK Commercial Property REIT The pandemic has brought real challenges for commercial tenants and landlords Strong asset allocation, prudent negotiation with tenants and strategic portfolio shifts have helped mitigate the impact of the crisis From here, the portfolio is geared into a number of long-term structural changes This has been a [...]