Central London’s economy hit hardest by Covid as tourist spending plummets £10bn February 1, 2021 Research published by Sadiq Khan shows central London’s economy has been hit hardest by Covid-19, largely due to home working and a sharp drop in tourism. Tourism spending fell by £10.9bn in 2020 compared to the year before, with more than 26,000 jobs at risk in arts and culture alone and the night-time economy also [...]
CBI calls for government to consult business more widely to draw up lockdown exit plan February 1, 2021 One of the UK’s mot influential business bodies has called on the government to reach out to the country’s private sector for advice on how to reopen the economy post-lockdown. The CBI has written to business secretary Kwasi Kwarteng to ask the government to outline six elements when drawing up its lockdown exit strategy, including [...]
Tunnel vision? Why the approved Thames crossing at Silvertown could be in doubt January 30, 2021 London's new road tunnel at Silvertown was years in the making and given the go-ahead by Sadiq Khan in 2019, but ever since then opposition to the eastern crossing has grown.
Shaun Bailey campaign in strife as team is whittled down to one press officer January 28, 2021 Shaun Bailey’s mayor of London campaign has been plunged into turmoil, with Conservative party headquarters withdrawing funding for his highly regarded press team. City A.M. understands that the Bailey team is now operating with just one junior press officer and is set to significantly reduce its online campaigning efforts. The mayoral election, which pits [...]
Post-Brexit Special: UK business leaders on access to EU talent January 28, 2021 Since the turn of the year, UK companies exporting into the EU have to fill out a set of customs declaration forms and some goods, like agricultural products, have to undergo rigorous checks at the border. This has led to border disruption and delays. These issues are scrutinised in the first instalment of this 2-part [...]
Red Light: Why Streetscape decision is a speed bump to Mayor’s ambition January 28, 2021 As any local politician will tell you, how citizens get around is a fiercely important issue which can rumble for years without bursting into a crisis. For the mayor of London, Sadiq Khan, however, that crisis has come, and low-level rumblings must now be addressed as a strategic problem. Last year, as lockdown and other [...]
EU opens up to US clearing houses in blow to City of London January 27, 2021 Brussels will allow US clearing houses operate throughout the EU in what could be a blow to the City of London’s largest clearing agencies. The European Commission announced today that it had decided that the US’ financial regulator’s rules was equivalent to the EU’s around clearing houses. This means the EU will now allow Wall [...]
Sadiq Khan accuses government of imposing ‘new era of austerity at worst possible time’ January 27, 2021 The Mayor of London has today warned that major cuts are inevitable unless the government adequately funds the capital. Khan has vowed to build a better city in the aftermath of the pandemic but argues that he is being forced to do so “with one arm tied behind my back”. Speaking at a Budget Plenary [...]
Fresnillo forecasts fall in gold production due to landslide January 27, 2021 Precious metals miner Fresnillo today said that gold production would fall over the coming year due to a landslip at one of its mines. The FTSE 100 company said that full year gold output for 2021 was expected to come in at 675 to 725 k/oz. This year the firm reported production of 769 k/oz, [...]
City of London chief: Brexit impact ‘not at all catastrophic’ as Square Mile will thrive without EU access January 27, 2021 Brexit’s impact on London’s loss of financial business has not been catastrophic, the chief of the City of London Corporation said this morning. Catherine McGuinness, political leader of the Square Mile’s ruling body, insisted the City will thrive even if the European Union “irrationally” blocks access. London has endured business and job losses since the [...]