American candy stores or retail hub? What might be next for Oxford Street March 19, 2023 It has been three years since the UK was plunged into its first-ever full scale lockdown – forcing the majority of stores in London’s West End to temporarily cease trading and arguably altering the state of physical retail forever. The pandemic forced once seemingly indestructible retailers such as Debenhams, Topshop, and Gap off Oxford Street, [...]
New ‘metaverse’ themed co-working space opens on Oxford Street March 16, 2023 A new co-working space has today launched in Oxford Street which will be themed around the ‘metaverse’ and help to bring creatives and investors into one space. Office and workspace company Huckletree, which operates across some of the biggest cities in the UK, has opened London’s first dedicated hub for tech companies pioneering new digital [...]
Rail strikes: Hospitality says it has lost £3bn as it becomes ‘collateral damage’ in rail dispute March 16, 2023 London retail and hospitality bodies have said that the sector is “suffering” due to ongoing tube strikes as the disruptions continue to take a large bite out of the sector’s earnings. As Tube and rail strikes grind London to a halt this week, trade body UKHospitality has claimed that pub and restaurant businesses are expected [...]
Freefall: Credit Suisse potentially ‘next shoe to fall’ as bank contagion fears spread across Europe March 15, 2023 Shares in Credit Suisse tanked today after one of its main shareholders ruled out providing new funding to the embattled lender prompting a major sell-off in the wider European banking sector. Credit Suisse shares traded as much as 30 per cent down earlier on Wednesday, and are now trading around 23 per cent lower. Banking [...]
The Notebook: Neil Bennett on how the Treasury made the BBC look very slow indeed March 15, 2023 Writing a column on the morning of Budget Day is always a thankless task. By the time you read this, most of you will know what is set to come out of that red box, while I can only speculate. That said, it’s nice to see that Jeremy Hunt is now following in his predecessors’ [...]
Silicon Valley Bank: how has the US rescue differed from the UK… and is it a bailout? March 14, 2023 US regulators moved to insure customers' deposits and steady the sector after Silicon Valley Bank collapsed.
FTSE 100 close: Silicon Valley Bank collapse drags London index into red despite HSBC sale March 13, 2023 London’s FTSE 100 was dragged down into a global market sell off today driven by fears over how far the effects of the collapse of tech-focused Silicon Valley Bank could ricochet through the financial system. The capital’s premier index slid more than two per cent to close at 7,548.64 points, while the domestically-focused mid-cap FTSE [...]
London: West End and Knightsbridge urge Hunt to relax Sunday trading laws to bring in £350m extra March 13, 2023 The West End and Knightsbridge have urged the chancellor to relax Sunday trading restrictions and help them rake in an estimated £350m a year. The duo have submitted a joint proposal to Jeremy Hunt ahead of this week’s budget, urging the government to relax Sunday trading laws within the popular London districts in an effort [...]
London economy steams ahead to top UK growth league and on track to avoid recession March 13, 2023 London’s economy is racing ahead of the rest of the UK and is on track to power the country’s GDP out of its current slump, new figures out today show. The capital’s purchasing managers’ index (PMI) shot up to 56 points last month, up sharply from 50.5 points and far above the 50 point threshold [...]
Footballers’ political interventions are often a litmus test for public sentiment March 13, 2023 When footballers enter public debates, they often voice the concerns of the masses. This government shouldn't just dismiss Gary Lineker's comments; perhaps, it should stop and listen, writes Eliot Wilson