US jobless benefit claims push lower and labour market momentum slowing October 22, 2020 Initial claims for state unemployment benefits totalled a seasonally adjusted 787,000 for the week ended 17 October, down from 842,000 in the prior week, the Labor Department said today.
Healthcare firm unveils £10 rapid Covid-19 test for back to work push October 22, 2020 A private healthcare firm has unveiled a new low-cost Covid-19 test that it says could help get Brits back to work safely, though scientists have warned more development is needed. The finger-prick test returns results in 10 minutes and is priced from just £10. As well as checking for a Covid-19 infection, it can detect [...]
Shaftesbury taps investors for £300m as pandemic batters West End October 22, 2020 West End landlord Shaftesbury will tap investors for £300m amid a sharp downturn in central London footfall during the coronavirus pandemic. The property firm announced today that it intends to raise around £297m through a discounted offer of new shares, with the potential to raise £307m dependent on investor appetite. Shaftesbury, which owns 16 acres [...]
Ready to order? Business lunches may be exempt from new Tier 2 restrictions October 21, 2020 City restaurants are preparing to allow business lunches to resume after legal advice suggested work meetings are allowed at hospitality venues under an exemption to Tier 2 restrictions. The rules, which came into effect last weekend, mean people cannot mix with another household in pubs or restaurants. The hospitality sector has already warned that a [...]
Bulmers owner C&C warns over impact of second wave on cider sales October 21, 2020 Bulmers and Magners owner C&C Group today warned that the second wave of the coronavirus pandemic could dent its recovery due to ongoing restrictions in the hospitality sector. For the six months ended 31 August, the company swung from a €64.4m operating profit to a loss of €11.7m, due to the closure of pubs and [...]
South Yorkshire to enter Tier 3 from Friday night October 21, 2020 South Yorkshire is set to move from Tier 2 to Tier 3 from midnight on Friday, in a move that will see Barnsley, Doncaster, Rotherham and Sheffield join Greater Manchester on the highest alert level. The new restrictions will see the closure of pubs, restaurants, casinos and soft play centres, with the government pledging £30m [...]
UK inflation climbs to 0.5 per cent after Eat Out to Help Out scheme ends October 21, 2020 UK inflation climbed to 0.5 per cent last month as restaurants and cafes hiked their prices following the end of the Eat Out to Help Out scheme. The headline rate of inflation on the ONS consumer price index (CPI), which tracks the prices of goods and services, came in at 0.5 per cent in September, [...]
Back to Business: How a Dalston cafe-owner stayed afloat October 21, 2020 As coronavirus restrictions continue to squeeze the hospitality sector, we asked Dalston’s Snackbar owner Freddie Janssen how she stayed afloat and got back to business. Who are you and what do you do? I’m Freddie Janssen, owner of Snackbar in Dalston. It’s a bright and buzzy little neighbourhood cafe serving good coffee and quality comfort [...]
Exclusive: London restaurant spend topped 2019 before new restrictions October 21, 2020 Spending at restaurants, pubs and bars in London climbed above 2019 levels for the first time during the coronavirus pandemic before new restrictions were put in place, data provided exclusively to City A.M has shown. Food and beverage spending was 1.7 per cent higher in September than a year earlier, according to Fable Data, which [...]
FTSE 100 closes higher after upbeat UK earnings October 20, 2020 The FTSE 100 recovered from an early fall to close in the green after a day of positive quarterly earnings, although residual fears over coronavirus and new restrictions remain. London’s blue-chip index fell 0.3 per cent but crept back through the day to close up by the same margin at 5,899 points. The FTSE 250 [...]