Pandemic: High Street demise leads to explosion in demand for gigantic warehouses August 31, 2021 The enforced closure of high street stores saw the trend towards greater online sales rocket further this year, with retailers having to invest further into their warehousing capabilities to cope with delivery demand. In fact, the explosive growth in e-commerce, as a result of the pandemic, has seen almost 15m sq ft of new “super [...]
Weekend read: A hybrid high street August 30, 2021 In March 2020 as physical stores were closed, brands with existing e-commerce channels were able to quickly adapt and many enjoyed a boom in online sales led by an increase in mobile shopping. More customers than ever relied on their phones to shop, with global mobile app audiences growing by 31 per cent — nearly twice the [...]
World’s most expensive miniature ever: 50ml bottle of whisky sells for £6,440 August 27, 2021 Whisky sales have set a new record with the sale of a 50ml bottle of whisky for £6,440, making it the most expensive miniature ever sold at auction. The Springbank single malt, distilled in 1919, was one of more than 400 bottles from a collection that sold for £56,732.95 after commission. Just 24 full-size 700ml [...]
Contactless limit to rise to £100 from October August 27, 2021 The limit for spending on contactless cards will reportedly rise from £45 to £100 on October 15. In March, Rishi Sunak confirmed that the payment limit would be raised in order to boost businesses as the UK recovers from the Covid-19 pandemic. UK Finance, an industry body which represents banks, today confirmed that the changes [...]
UK’s inaugural green gilts to carry 2033 maturity August 27, 2021 The UK’s first green gilts, which are due to launch next month will have a maturity date of 31 July 2033, the Debt Management Office (DMO) announced this morning. The sale of the new gilts, the proceeds of which will go towards funding environmental projects, will take place in the week of 20 September. The [...]
Contactless limit to rise to £100 from October – CityAM : CityAM August 27, 2021 The limit for spending on contactless cards will reportedly rise from £45 to £100 on October 15. In March, Rishi Sunak confirmed that the payment limit would be raised in order to boost businesses as the UK recovers from the Covid-19 pandemic. UK Finance, an industry body which represents banks, today confirmed that the changes [...]
Deadly feline disease still a mystery as UK watchdog finds no link to recalled cat food August 26, 2021 The UK food watchdog, the Food Standards Agency (FSA), has not found a causative link between recalled cat food and an outbreak of potentially deadly feline pancytopenia, it has said. The FSA has been investigating the disease since June following more than 130 cases since April. Investigations led to the recall of three brands of [...]
Retail footfall dips for first time since June as Brits shun high streets and shop online August 26, 2021 Retail footfall dipped for the first time in two months last week driven by Brits shunning high streets and continuing to shop online despite the lifting of Covid restrictions, according to new data released today. Figures published by the Office for National Statistics, and supplied by Springboard, show the volume of total retail footfall slid [...]
M&S shares jump to 18 month high following revised price targets August 26, 2021 Marks & Spencer (M&S) shares are at their highest level in almost eighteen months after the company revised its profit targets upwards. In a statement released last week M&S said that they were expecting annual adjusted profit before tax to exceed the upper end of previous guidance predicting £300-350m. Share prices rallied in response to [...]
Global corporate profits expected to fall eight per cent after record quarter August 25, 2021 Global corporate profits are set to fall for the first time in 18 months after a record second quarter, as a rise in the Delta variant has increased labour costs while squeezing supply chains, according to calculations by Reuters. Although huge stimulus packages helped to underpin economic recoveries while the easing of pandemic restrictions resulted [...]