Retail footfall jumps as UK coronavirus cases rise March 16, 2020 Retail footfall spiked at the end of last month as consumers rushed to the shops to stock up due to the spread of coronavirus in the UK. Retail footfall in February was down two per cent year on year due to several storms during the month. However, the final week of the month saw a [...]
New builds: Homes on the market in London this week, from flats for West Ham fans to a Bromley mansion March 13, 2020 Hanworth Apartments, Hounslow From £339,000 for a one-bed Jet setters will want to take a look at Hanworth Apartments, the new phase of homes at Barratt London’s High Street Quarter in Hounslow. Its 38 one, two and three-bed apartments are just ten minutes from Heathrow Airport, with prices starting at £339,000 for a one-bed. A [...]
FTSE 100 crashes 10.9 per cent in worst one-day fall since 1987 March 12, 2020 The FTSE 100 suffered its second biggest one day fall in the history of the index, and the worst day since 1987, as it closed down 10.87 per cent. London’s blue-chip index plunged 639 points to close at 5,237 points, as global stocks suffered yet another meltdown after Donald Trump imposed a travel ban on [...]
2020 Budget live: City reacts to Rishi Sunak’s spending plans March 11, 2020 Welcome to City A.M.’s 2020 Budget Day live blog. Please refresh your browser for live updates. Chancellor Rishi Sunak is expected to address fears over the economic impact of coronavirus, and announce waves of new infrastructure spending and changes on taxation in his 2020 Budget. It comes after Bank of England governor Mark Carney earlier [...]
Budget 2020: Retail and leisure sector reacts to ‘disappointing’ business rates reform March 11, 2020 Business rates have been the key issue for retailers in the run up to today’s budget, made even more crucial by the outbreak of coronavirus. Chancellor Rishi Sunak announced measures to support more small leisure, hospitality and retail businesses with a rateable value of less than £51,000. Business rates for those firms will be scrapped [...]
City Moves for 11 March — Who’s switching jobs at Wavemaker, Waypoint Capital and CapitalRise? March 11, 2020 Today’s City Moves includes Wavemaker, Waypoint Capital and CapitalRise Wavemaker Wavemaker UK has announced the appointment of Elliott Millard as head of planning. Based in London, Elliott will lead a team of 65 planners, taking responsibility for the strategic element of key new business pitches. Elliott brings over 18 years of media industry leadership experience [...]
The Westbury Hotel owner seeks £1bn sale of Mayfair portfolio March 10, 2020 Cola Holdings, the owner of the The Westbury Hotel, is seeking a £1bn offer for its Mayfair property estate, which also includes Bond Street’s Burberry store and a private members club. Kurdish-born millionaire Bakir Cola owns the group, which has recently received planning permission to redevelop the five-star hotel in Conduit Street to attract “top [...]
City Moves for 10 March — Who’s switching jobs at Vectura, Heylo and Segro? March 10, 2020 Today’s City Moves includes Vectura, Heylo and Segro Vectura Drug delivery service Vectura has announced the appointment of Mark Bridgewater as chief commercial officer. Mark has more than 20 years of experience in medical device and pharmaceutical services. Prior to joining Vectura, he was vice president of business development and account management for Europe and [...]
Coronavirus: FTSE 100 loses £144bn after worst day since 2008 March 9, 2020 The FTSE 100 has had £144bn wiped off its value today as it closed below 6,000 points and suffered its biggest intraday fall since 2008. The coronavirus outbreak and plunging oil prices dragged the index down as much as 8.7 per cent to just 5,899 points as it opened following a weekend of coronavirus turmoil. [...]
Amazon to sell check-out free store tech to other retailers March 9, 2020 Amazon has launched a new business to sell its check-out free store technology to other retailers. The tech giant launched a website this morning inviting customers to inquire about the service. Amazon, which uses similar technology in its own chain of convenience stores, said it has already signed several deals. The ‘Just Walk Out’ technology [...]