Lockdown batters UK footfall but retailers hope for Christmas boost December 3, 2020 Retail footfall plummeted in November amid the closure of non-essential shops, though the decline was less severe than the first lockdown earlier this year. Visitor numbers were down more than 51 per cent year on year last month as tighter Covid-19 restrictions took their toll on the high street. The decline was steeper than the [...]
Central London footfall surges in Wild Wednesday shopping spree December 2, 2020 Footfall levels in central London surged today as shoppers and office workers returned to the capital after England’s second coronavirus lockdown came to an end. Central London reported a 91.1 per cent jump in visitors by 5pm, compared with the same day last week as the city entered Tier 2 coronavirus restrictions. Footfall remains down [...]
Square Mile comes back to life as second lockdown ends December 2, 2020 As London emerges from the second lockdown there are tentative signs that life is returning to the City. London today entered Tier 2, representing a slight easing of lockdown restrictions, just as news of the Pfizer/Biontech vaccine approval landed in the Square Mile. City leaders breathe a sigh of relief Gyms, barbers and beauty salons [...]
From today London is in Tier 2: Do you know all the new rules? December 2, 2020 The covid-19 restrictions have been strengthened since before the lockdown, so what are the new rules for work, home and socialising now that London's in Tier 2
Cath Kidston returns to the high street with flagship Piccadilly store December 2, 2020 Cath Kidston has this morning opened a flagship store in Piccadilly, which will be its only physical branch after the retro-inspired retailer fell into administration earlier this year. The retailer closed all of its 60 UK stores in April, resulting in the loss of 900 jobs, after its Hong Kong private equity owner Baring appointed [...]
New Covid restrictions pass in parliament despite large Tory rebellion December 1, 2020 MPs have agreed to implement new tiered Covid restrictions from tomorrow, however Boris Johnson was rocked by the largest Tory backbench rebellion he has faced. Seventy-eight MPs, including 55 Tory MPs, voted against the government and against the three-tier Covid restrictions. The largest previous rebellion against Johnson was when 44 Conservative MPs voted against bringing [...]
FTSE 100 and Wall Street chase record highs as vaccine hopes boost markets December 1, 2020 The FTSE 100 logged its best session in three weeks today while Wall Street hit record highs as markets continue to ride a wave of vaccine optimism. The blue-chip bourse closed up 1.9 per cent, while the FTSE 250 midcap index rose by 2.6 per cent. It comes after the FTSE recording its biggest gain [...]
Canary Wharf redevelopment gets green light as landlords seek Covid-friendly offices December 1, 2020 Redevelopment plans for a Canary Wharf office block have been given the green light, as property owners seek to capitalise on demand for Covid-19 secure office space. Real estate asset management firm Quadrant and funds managed by Oaktree Capital Management have secured planning permission to redesign 30 South Colonnade in the east London financial district. [...]
Debenhams closure: What next for struggling retail landlords? December 1, 2020 Retail landlords are set to take a multimillion pound hit following the collapse of Debenhams and Arcadia’s fall into administration, and could struggle to fill the space left by closed flagship stores. Many property owners, which have already been impacted during the pandemic due to a spike in retail restructurings and renegotiated rents, will lose [...]
Alok Sharma slammed for swerving parliamentary scrutiny on Brexit December 1, 2020 A row has erupted between a Westminster committee and Alok Sharma, after the business secretary refused to attend a hearing on Brexit next week. Labour MP Darren Jones, and chair of the Business, Energy and Industrial Strategy (Beis) Committee, hit out at Sharma saying it “is a very poor show when a secretary of state [...]