Russia unlikely to meet debt obligations as Western sanctions bite, Moody’s warns March 6, 2022 One of the world’s top credit rating agencies has raised concerns over Russia’s ability to service its debt as Western sanctions hobble Moscow’s economy. Moody’s said its move to downgrade Russian debt to the second-lowest rung on its ratings ladder was “driven by severe concerns around Russia’s willingness and ability to pay its debt obligations”. [...]
Amazon makes major U-turn by shutting all book stores and physical shops in UK March 6, 2022 E-commerce giant Amazon has said it is planning to shut all of its book stores as well as its other brick-and-mortar shops and pop-up stores in the UK and US. The shock announcement to close down all 68 book stores, as well as shops that offer toys and home goods in Britain and the US, [...]
London faces logistics space crunch as e-commerce firms take over city March 4, 2022 London would run out of available industrial space within five months, should the current take-up rate continue, amid an e-commerce boom. The capital and the South East are facing running out of industrial and logistics spaces, according to a report published today by London First, in partnership with CBRE. It comes as the pandemic has [...]
Construction sector back in boom mode as price increases slow March 4, 2022 After months of heavy price increases, the rapid cost hikes in the construction sector showed further signs of easing off in February, according to fresh data published this morning. Builders reported they were still facing problems in supply chains, and that prices for materials and other inputs rose in February. But the reported rise was [...]
Pubs face extra £800m in energy bills with bosses bracing for cocktail of hiked costs this spring March 3, 2022 Pubs have reported £800m in additional energy bills, with hospitality bosses warning suppliers are refusing to ink new contracts with venues. Firms have reported energy bills ballooning 150 per cent compared to pre-pandemic energy bills, with an average above 100 per cent. The British Beer and Pub Association (BBPA) said its members had reported that [...]
UK services economy surges after end of Plan B curbs despite inflation reaching record high March 3, 2022 Brits rushed back to pubs, bars and restaurants after the end of Plan B measures, boosting the UK’s services economy, but firms are raising prices at a record rate, reveals a closely watched survey released today. Activity among British services firms climbed to an eight month high, hitting 60.5 in February, according to IHS Markit’s [...]
London Stock Exchange Group boosts dividend amid booming profits and rising revenues March 3, 2022 London Stock Exchange Group enjoyed strong revenue growth and profits across all divisions last year, and has upped its final dividend.
Total joke: High street firms left in the dark as councils hold back on £1.5bn rates relief March 3, 2022 Hundreds of thousands of businesses have been left waiting almost a year to receive support through a £1.5bn business rates relief fund. The fund was to be distributed by local authorities to businesses impacted by the pandemic but outside of the retail, hospitality and leisure sectors. Distribution has turned into a postcode lottery with business [...]
NFT art gallery prepares to open in heart of the City March 3, 2022 In December 2019, Josh Sandhu made his first investment in non-fungible tokens (NFTs) picking up a handful of collectible digital artworks.
Cost of living crunch to intensify as firms prepare to launch price hikes March 3, 2022 Speculation inflation in the UK could breach eight per cent in April is looking even more certain as businesses prepare to hike prices to combat swelling costs, reveals a fresh survey released today. Economists’ bets on the Bank of England’s forecasts for inflation to peak at 7.25 per cent this April being undercooked are looking [...]