UK retail footfall ‘more resilient’ in second lockdown November 16, 2020 Retail footfall has been more resilient during the second coronavirus lockdown compared to the first closure of non-essential stores in March, the latest analysis showed. Between Thursday and Saturday footfall in retail destinations rose by an average of 13.2 per cent from the same three days in the week before, when the lockdown began. Shoppers [...]
Arcadia taking ‘appropriate steps’ amid second lockdown but denies administration November 16, 2020 Sir Philip Green’s retail empire Arcadia has said it is taking “all appropriate steps” to mitigate the impact of a second lockdown and hit back at claims it is about to enter into administration. The second lockdown in England comes at a precarious time as retailers prepared for the Christmas period hoping to salvage the [...]
Explainer: What are green bonds? And how will the UK’s first green gilts work? November 15, 2020 Chancellor Rishi Sunak announced yesterday that Britain will issue its first green government bond next year, in a bid to capitalise on growing investor demand for assets that fund environmentally-friendly projects. The market for investments with an environment, social, or governance (ESG) focus has increased exponentially in recent years. Around $250bn (£189bn) of green bonds [...]
Councils pile pressure on firms over unpaid business rates during pandemic November 12, 2020 Local authorities have begun to turn up the heat on businesses that have been unable to pay rates bills during the pandemic, with some pursuing claims through the courts. According to property consultancy Colliers International, an increasing number of clients are receiving letters demanding payment or court summons. Office occupiers were not granted a business [...]
Burberry shares climb as group clings onto profit during pandemic November 12, 2020 Burberry shares climbed almost four per cent at market open this morning as the luxury retailer announced it had clung onto profit during the coronavirus crisis. The results The pandemic dealt a heavy blow for Burberry, with revenue sinking 31 per cent in the 26 weeks to 26 September, as the fashion retailer was forced [...]
Could ditching the office make us all poorer? November 12, 2020 While we have in many ways adjusted to life in a pandemic, the profoundly disorientating changes we’ve seen since the initial nationwide lockdown are stark. The “death of the office” narrative has persisted through the easing and then reimposing of lockdown restrictions, and while no one can predict exactly how this will play out, it [...]
£200m Mayfair office redevelopment gets green light November 11, 2020 Developers have been given the go-ahead for a £200m project to transform Mayfair’s Lansdowne House into office and retail space. Westminster City Council granted planning permission to real estate firm Core to redevelop the property in Berkeley Square. Core said the project is a “huge boost” for central London and the city’s office market, despite [...]
The Piano Works and Kerb market bosses among those pushing Rishi Sunak to back hospitality investment November 11, 2020 London hospitality firms including The Piano Works, street food market Kerb and bar operator Lollipop have called on the government to incentivise investors to help rebuild the sector without burdening struggling companies with extra debt.
London unemployment rate sees largest rise in a generation November 10, 2020 The number of people out of work in London soared over the summer, with the largest quarterly increase in the unemployment rate in over 30 years. Figures from the Office of National Statistics (ONS) show the unemployment rate in the three months to September rose 1.2 per cent from the previous quarter to six per [...]
TfL launches new scheme to curb London bike theft November 10, 2020 TfL will today launch a partnership with British cycling retailer Halfords to encourage Londoners to safely and securely lock up their bikes and reduce the risk of theft.