London hotel occupancy soars to 85 per cent during week of Queen lying in state September 15, 2022 Hotel occupancy rates in the centre of London have soared to almost 85 per cent ahead of the Queen’s funeral. Mourners and well-wishers have come to the capital from across the country and around the world to mark the death of Queen Elizabeth, and they all need somewhere to stay. This week, hotel occupancy peaked [...]
Exclusive: UK retailers should copy TfL or they miss out on advertising cash, argues City bigwig September 15, 2022 Are UK retailers missing a valuable opportunity to earn money from advertising? A City insider thinks most big brands do, as he urges the High Street’s biggest names to look at TfL and copy their model by rolling out a retail media network. So-called retail media networks are one of the hottest emerging trends in [...]
Investment management firm Brooks Macdonald dips as clients feel market sting September 15, 2022 Funds under management dipped for Brooks Macdonald this year as the investment management firm warns of the challenging market environment for clients and advisers. Group funds under management (“FUM”) closed at £15.7bn, down nearly five per cent from last year, as positive net flows were offset by the impact of declining markets on asset values. Brooks [...]
Liz Truss is determined to ignore reality and push inflation up with price freezes September 15, 2022 It is hard to believe only a week has passed since Liz Truss made the announcement that was set to immediately define the start of her premiership; a blanket cap on energy bills so that the average household pays no more than £2,500 a year. After being harried for weeks by the opposition parties, she [...]
UK consumer confidence falls into negative territory for first time since 2020 September 15, 2022 Confidence among UK consumers has fallen into negative territory for the first time since June 2020, according to a survey. The Consumer Confidence Index from YouGov and the Centre for Economics and Business Research (Cebr) fell by 4.2 points in August from 103.0 to 98.8, the largest decline since the early stages of the pandemic. [...]
Publicans ‘in despair’ amid reports energy support will be delayed September 14, 2022 Pubs and restaurants are running out of time to stay afloat, industry chiefs have said, amid rumours of a delay to energy help for businesses. Government officials had warned business chiefs that a six-month support scheme may not be ready until November, according to a report in The Financial Times. Reports did suggest that officials [...]
Financial markets see pullback after worse-than-expected US inflation figures September 14, 2022 The price of Bitcoin is down 8.5 per cent over the past 24 hours at $20,335, and Ethereum has dropped 6.4 per cent to $1,601.
City spotlight on ‘awry’ Naked Wines as shares continue to drop and strategy is reviewed September 14, 2022 Attention in the City is rapidly shifting towards Naked Wines, as a director left after only three weeks in the job, the business warned it is reviewing its plans for the next 18 months and shares tank. The online retailer’s shares dropped by around 30 per cent this morning. Naked Wines, which connects shoppers with [...]
Desperate small businesses beg government for immediate help as bills spiral out of control September 14, 2022 A range of small businesses said this morning that their energy bills have more than doubled in the past three months alone. Firms are therefore eagerly looking to next week’s expected mini budget for help with soaring bills despite the slight easing in inflation. Lesley So, founder of Derby-based eco-friendly drinks manufacturer So Good Kombucha, [...]
Working out well: Third Space eyes suburban locations for expansion pipeline September 14, 2022 Luxury health club brand Third Space is eyeing more locations in suburban areas, as opposed to in office hotspots, its CEO has told City A.M. Third Space offers members “a combination of expertise and luxury” and caters to “fitness savvy enthusiasts” as opposed to “first timers”, with members who “like the finer things in life,” [...]