Government to roll out new measures to scrutinise foreign takeovers June 21, 2020 The government is set to introduce new measures to protect UK businesses critical to combating coronavirus from foreign takeovers. The Department for Business, Energy and Industrial Strategy (BEIS) today set it will set out changes to the 2002 Enterprise Act tomorrow to allow the government to scrutinise foreign takeovers to ensure they do not threaten [...]
Government extends anti-eviction measures for businesses June 19, 2020 Commercial landlords will be unable to evict struggling companies until the end of September, after the government extended anti-eviction measures. The move comes as part of the government’s support package for companies hit by the coronavirus pandemic. The suspension of the forfeiture of evictions will come as a relief in particular to pubs, cafes and [...]
Exclusive: Westminster denies firms business rates relief for empty offices during lockdown June 17, 2020 Central London companies whose staff abandoned offices to work remotely during the coronavirus lockdown have been refused business rates relief, City A.M. can reveal. Westminster City Council has refused to grant the relief to office-based businesses such as accountants, law firms, and consultancies despite their workspaces remaining empty over the period. The move has sparked [...]
Exclusive: Government review delays announcement that pubs can reopen June 17, 2020 Downing Street’s plan to announce earlier this week that pubs and restaurants could open on 4 July was delayed by a government review, putting hundreds of thousands of jobs at risk. City A.M. understands that Covid-19 operating guidelines for England’s hospitality sector have been drawn up by the government and are ready to distribute. However, the [...]
Covid hits hospitality: London will change, but there is light at the end of the tunnel June 17, 2020 City A.M. knows the hospitality industry is in trouble – and that London without its bars, restaurants and late-night dens wouldn’t be half the city it is. Hospitality entrepreneur Chris Miller writes today to say that the capital will change – but there are opportunities too. As the saying goes those who are tired of [...]
Unhappy Meal: McDonald’s sales fried across the globe by coronavirus lockdowns June 16, 2020 McDonald’s sales fell by about one-third across the globe over the first two months of the current quarter, as the coronavirus pandemic forced it to close stores across Europe. The fast food giant said that demand had improved significantly from April to May, as many of its restaurants reopened to diners, especially in the US. [...]
Restaurant bosses call for VAT cut as dining out sector braces for difficult return to business June 16, 2020 Restaurant industry bosses have today urged Boris Johnson to take drastic action, including slashing VAT on the food they serve, to help the struggling sector survive the effects of coronavirus. In a letter signed by the bosses of 90 major chains, Deliveroo founder Will Shu said that the government should also extend its job retention [...]
City A.M.’s Father’s Day Gift Guide June 15, 2020 It’s not your ‘normal’ Father’s Day this year: no Sunday roast and a pint in the pub, and a relatively simple trip home for a cup of tea now presents logistical challenges on a par with a military operation. In fact notonthehighstreet.com has found that lockdown is the longest nearly half of Brits have ever gone without seeing [...]
Shorter hours and portable loos: How London’s West End is reopening shops after lockdown June 15, 2020 The West End was one of the first areas of London to suffer the economic damage wrought by coronavirus, even before lockdown. By mid-February, people were already avoiding the usually bustling restaurants of Chinatown, following false reports that the disease could be caught more easily there. Now, after months of lockdown-induced hibernation, businesses across the [...]
How global markets will cope with a second wave June 13, 2020 Fears of a second wave of coronavirus have stubbed out hopes of swift economic recovery around the world, as the possibility of further lockdowns hangs heavy on global markets. While many countries seem to have a grip on the coronavirus crisis, the prospect of new infections in the US hinted in Wednesday’s Federal Reserve meeting [...]