Britain’s billboards are lighting up despite lockdown restrictions February 13, 2021 The billboard industry – also known as out-of-home (OOH) advertising – earlier this month received a welcome shot in the arm comparable to the good news surrounding the UK’s vaccination efforts. The latest expenditure report from the Advertising Association and WARC forecast OOH media channels will recover and expand significantly this year, with digital OOH [...]
Made.com considers public listing amid pandemic boom February 12, 2021 Online retailer Made.com is said to be mulling an IPO after a bumper year of sales amid the pandemic. The furniture specialist is in talks with banks about its options, which could include a public listing valuing the company at more than £500m, according to Sky News. City A.M. understands Made.com has not yet appointed [...]
Cannabis rally goes up in smoke as shares plummet February 11, 2021 Cannabis stocks gave up its earlier highs on Thursday afternoon with leading US firms plummeting between 20 and 40 per cent. Cannabis stocks were among the most traded by German retail investors this morning, as a buying frenzy that has lit up the sector intensified. Tilray was the most traded stock on German trading platform [...]
City workers’ favourite spots in trouble as vacant units soar over lockdown February 11, 2021 The City’s after-work drinking spots, dry-cleaners and restaurants are all in trouble as new figures reveal the number of empty units have soared to a five-year high. The number of vacant units in the City of London increased a staggering 47 per cent, according to the Local Data Company, as the pandemic decimates the area’s [...]
Westfield London owner posts €7.6bn loss after rent squeeze as UK tenants go bankrupt February 10, 2021 The shopping centre landlord that owns Westfield London, Stratford City and a swathe of similar mega-malls across Europe and the US has seen its like-for-like rental income drop 24 per cent.
Man Down: Rihanna’s Fenty fashion line closes after two years February 10, 2021 Pop star Rihanna is closing her Fenty fashion line less than two years in production. Luxury goods group LVMH announced it was putting the brand “on hold” but pledged to concentrate on the “Fenty ecosystem” which includes Rihanna’s lingerie and beauty ranges. The singer and Louis Vuitton owner launched the brand in May 2019 and [...]
London pubs and restaurants face ‘bombshell’ without action on business rates, Khan says February 10, 2021 London pubs, restaurants, shops and other hospitality firms have saved more than £3bn due to the business rates holiday, it was revealed today, as pressure mounted on the government to extend the break. Figures showed that 73,140 retail, leisure and hospitality businesses in the capital had benefited from the business rates holiday during the pandemic [...]
Businesses left in the lurch as up to £1.4bn of Covid-19 grants still unpaid February 10, 2021 Local authorities across England are still yet to pay out as much as £1.4bn in emergency Covid-19 grants, putting thousands of businesses at risk of further job cuts. Figures obtained through a Freedom of Information request revealed that an estimated 87 per cent of the £1.6bn Additional Restrictions Grant (ARG) fund still has not been [...]
FTSE 100 bounds ahead despite housebuilders taking a tax hit while US stocks soar February 10, 2021 FTSE 100 bounds ahead despite housebuilders taking a tax hit
City Moves for 9 February: Who is switching jobs in the Square Mile this week? February 10, 2021 City Moves provides a roundup of the most important hires and job moves across the City, every Wednesday afternoon. Email citymoves@cityam.com to be featured. This week hosts movements over at Big Four auditor Deloitte, JP Morgan, HMRC and PE firm Dean Street. Meanwhile, green London housing looks to be a focus for 2021 with Public Sector Plc’s new [...]