UK capital raising hits decade-high amid coronavirus crisis November 25, 2020 The coronavirus pandemic has driven UK companies to raise the most money on public markets in a decade, with firms scrambling for cash returning to traditional fundraising methods, analysis shared exclusively with City A.M. has shown. Listed companies have raised more than £26bn this year from London Stock Exchange’s (LSE) main and AIM markets, analysis [...]
The government is ignoring Covid science and hospitality is paying the price, says D&D boss November 24, 2020 Des Gunewardena is Chairman and CEO of D&D London, the restaurant group behind brands including Bluebird, Angler, 14 Hills and Coq d’Argent. Here he lays out where the government has failed the hospitality sector and gives a plan for how it could still salvage something from the most important month of the year. So we’ve finally [...]
Love rats: London’s rodent population booms as lockdown silences urban areas November 24, 2020 Quietened urban areas as a result of coronavirus restrictions have helped the population of rats boom by 30 million in one year
Leadenhall Market tenants offered turnover-based rents to see them through Covid-19 November 24, 2020 The City of London Corporation has offered Leadenhall Market tenants the option to switch to turnover-based rents amid a surge of closures in the UK retail and hospitality sectors.
Retirees to be hit by inflation change in Rishi Sunak spending review November 24, 2020 Rishi Sunak is set to cost investors £100bn by announcing a change to how pensions are calculated in tomorrow’s comprehensive spending review. The Telegraph reports that Sunak is considering linking pension rises to CPI instead of the retail price index, which would mean smaller yearly increases. The change would mean that 10m retirees will receive [...]
England’s 28 day lockdown will actually only last 27 days as restrictions lift next Wednesday November 24, 2020 England’s national lockdown will last one day shorter than expected, with restrictions set to lift at 0.01am next Wednesday. Announcing the nationwide measures last month, Prime Minister Boris Johnson said the restrictions would last 28 days starting 4 November, as the government scrambled to curb a spike in infections across the country. However, the restrictions [...]
AO World swings to profit as working from home boosts revenue more than 50 per cent November 24, 2020 Online electricals retailer AO World swung to profit in the six months to September, as a surge in domestic appliance sales during the pandemic helped revenue rocket more than 50 per cent. The company, which sells washing machines, fridges, TVs and laptops, said sales in the six months to 30 September jumped 53.2 per cent [...]
Covid-19 leaves bad taste at Greencore as firm seeks £90m to shore up against virus costs November 24, 2020 Food producer Greencore is targeting a £90m equity placing to mitigate the cost of Covid-19 to the business, after the group’s pre-tax profits stood at £17.3m - down 81 per cent on 2019.
Curfew to be pushed back to 11pm but pubs warn restrictions will ‘destroy’ sector November 23, 2020 The Prime Minister has confirmed that the curfew for pubs and restaurants will be pushed back to 11pm when the coronavirus lockdown ends next month, but the hospitality industry has slammed new restrictions as “disastrous” for the sector. In a statement to Parliament this afternoon, Boris Johnson announced that the lockdown will be lifted on [...]
Retailers ‘relieved’ as shops get green light to open before Christmas November 23, 2020 The Prime Minister has announced that non-essential stores in England can reopen next month, in what retailers hope will provide a lifeline for the high street in the run-up to Christmas. In a statement in the House of Commons this afternoon, Boris Johnson confirmed that stores that were forced to close during the coronavirus lockdown [...]