Advertising watchdog bans Klarna Instagram ads December 23, 2020 The advertising watchdog has banned several Klarna shopping adverts that appeared on Instagram and encouraged consumers to use Klarna to shop and ‘boost their mood’. The Advertising Standards Agency (ASA) has banned Klarna’s Instagram campaign from appearing again, and warned the influencers involved to not “irresponsibly” encourage the use of Klarna’s deferred payment service. The [...]
Covid-19: R Rate creeps up to 1.4 in London according to new study December 23, 2020 A new study suggests the so-called R Rate for Covid-19 in the capital has crept up to 1.4. An R Rate more than 1 means the number of those with the virus is growing. The study, compiled by ZOE and the Covid Symptom Study app, suggests that the worst affected boroughs in London are Havering [...]
Property developer British Land agrees £401m sale of West End offices December 23, 2020 British Land has agreed the £401m sale of a 75 per cent stake in three buildings in the West End to Allianz Real Estate. The portfolio includes three buildings; 10 Portman Square, Marble Arch House and York House, all of which are in Marylebone. As a result of the sale British Land will form a [...]
UK headed for fresh produce shortages if Dover jam is not eased tomorrow December 22, 2020 The UK is heading for fresh produce shortages as soon as Christmas ends if the chaos at Dover is not eased in the next 24 hours. The UK has faced nearly 48 hours of chaos at the port of Dover after France shut its border with the UK, including to those carrying freight to the [...]
Corona Impact Series: A North London stationery brand forced to go digital December 22, 2020 In this series, City A.M. looks at the financial and economic impact of the ongoing pandemic on a range of small and medium-sized businesses across London. Today: how a small paper goods chain was forced to accelerate its digital transformation. “At the start of the first lockdown we had to close our five brick-and-mortar stores pretty much overnight,” sighs [...]
Risk on or risk off? December 22, 2020 The next stage As expected, risk off tone dominated the price action as market participants reacted to the news of an aggressive spread of a new strain of coronavirus out of the UK, as well as further tensions between the EU and the UK ahead of the Brexit deadline. As a result, GBP was hit [...]
Patel refuses to rule out further Tier 4 restrictions as mutant virus spreads December 22, 2020 Home Secretary Priti Patel has refused to rule out a new year lockdown, as a new, more infectious variant of coronavirus spreads across the country. This morning Patel said the government was willing to take stronger measures if the virus continued to spread in the UK. Speaking on Sky News, she said: “If new strains [...]
UK records 33,364 new coronavirus cases amid fears over new strain December 21, 2020 The UK recorded 33,364 new cases of coronavirus on Monday as markets panicked and countries blocked travel from Britain over fears of a new strain of Covid. The figure was lower than the 35,928 cases recorded on Sunday, which was the highest total seen during the Covid pandemic. But it was up from 20,263 cases [...]
Next year brings hope, but we’re not out of the woods yet December 21, 2020 As we approach the end of a year most of us would prefer to forget, Londoners have been dealt a fresh blow with news that the capital has been placed under the highest level of coronavirus restrictions. The new Tier 4 rules mean people should only go out for exercise or to travel for work, [...]
D&D owner: Tax supermarkets to bail out bars and restaurants December 21, 2020 In his second City A.M. column, D&D London CEO and cofounder Des Gunewardena reflects on the “horror show” of the last week, asks the government to consider a Covid-tax to help struggling restaurants, and offers his empty venues up as Covid vaccination stations. We have had some bad weeks during this pandemic, but last week [...]