The fundamental strengths of London will help us to recover, as we have done before March 23, 2020 In times of crisis such as these, we often see the very best in one another. This is being vividly demonstrated across the City by the spirit of community, resilience and support which is so evident as we respond together to the threat of Covid-19. We have seen difficult times before and have come through [...]
McDonalds, Topshop and New Look close stores due to coronavirus March 23, 2020 High street retailers have begun to shut stores in response to the coronavirus pandemic in the UK. Topshop, New Look and H&M are among the major UK retail chains to temporarily shut all branches over the weekend. The government ordered all pubs, bars, clubs and restaurants to close on Friday as the public were encouraged [...]
Estate agents urge government to extend coronavirus support March 22, 2020 Estate agents have urged the government to protect the industry as house viewings drop and sales activity slows due to coronavirus. The sector has called for the government to extend the business rates holiday, which applies to retail and hospitality firms, to estate agent companies. The UK’s housing market looked set to bounce back this [...]
Coronavirus to spark “severe” global recession March 20, 2020 The coronavirus is having a severe effect on global economic activity and amidst considerable uncertainty we have attempted to gauge the impact and updated our forecasts. We now expect to see the world economy contract this year by 3.1%, before rebounding by 7.2% in 2021. The forecast incorporates a severe recession in the first half [...]
Coronavirus: PM urges Brits to be ‘reasonable’ and responsible as he says ‘tide will turn’ in 12 weeks March 19, 2020 Brits have been urged to be reasonable and responsible as the government continues to grapple with the coronavirus outbreak as it begins to peak. Prime Minister Boris Johnson said he believed covid-19 could be under control by the summer – but only if people follow the social distancing measures already set out. If not, he [...]
Police on standby to help supermarkets in London lockdown March 19, 2020 Police could be called in to support UK supermarkets to deter aggressive behaviour in the event of a London lockdown as part of measures to delay the spread of coronavirus. Politicians and supermarkets have both urged the public to stop panic buying. However, demand for groceries has continued to spike. Shelves have been stripped and [...]
City of London Corporation offers rent relief for tenants March 19, 2020 The City of London Corporation has adjusted rent conditions for some of its commercial tenants to provide financial relief during the coronavirus outbreak. The local authority, a major commercial landlord, is changing rental payments for March to June to monthly billing for directly managed premises instead of quarterly billing. In a statement, the Corporation said [...]
Selfridges shuts after London staff test positive for coronavirus March 18, 2020 Luxury department store Selfridges has closed its doors after three members of staff contracted coronavirus. The retailer, which yesterday said it was planning to cut hours, announced this morning that its four stores across London, Birmingham and Manchester will close this evening. This morning the department store said that three employees at its flagship Knightsbridge [...]
Global stocks set to spiral despite coronavirus stimulus measures March 18, 2020 Global stocks looked set to slump yet again today as investor panic over the escalating coronavirus outbreak clouded the impact of major government stimulus policies. Hong Kong’s Hang Seng index slumped 3.5 per cent while Japan’s Nikkei dropped 1.7 per cent overnight, failing to follow a rally in US stocks yesterday. Wall Street rebounded yesterday [...]
Guinness owner Diageo launches fund to prop up pub staff wages March 17, 2020 Guinness owner Diageo has launched a £1m fund to support bar staff wages as pubs across the UK teeter on the brink of collapse due to coronavirus. The community fund will help some pubs and bars to pay a proportion of staff wages if they are forced to close as customers are urged to stay [...]