Hospitality bosses say Treasury support ‘borders on insulting’ as firms call for more aid December 21, 2021 Hospitality and leisure bosses have welcomed the announcement of a short-term support package for businesses but called for more. Venues have been hit hard by cancellations as the public stays away from the capital in a last attempt to dodge the highly transmissible Omicron variant before Christmas. After calls from industry bosses, Chancellor Rishi Sunak [...]
UK government launches £1bn Omicron rescue package for pubs, bars and restaurants December 21, 2021 Chancellor Rishi Sunak has launched a fresh £1bn rescue package to help sectors worst hit by the Omicron-induced economic storm survive. Pubs, bars and restaurants across England can now receive a one-off no strings attached payment of £6,000 per venue, the UK government announced today. Sunak said: “We recognise that the spread of the Omicron [...]
UK government interest bill swells at fastest rate in over a decade December 21, 2021 Soaring inflation is swelling the government’s interest bill at the fastest rate in over a decade, reveal official figures published today. Interest payments on debt held by the government climbed over £15bn, or 54.1 per cent, over the last financial year to November, the fastest rate of acceleration since 2010, according to the Office for [...]
Hospitality sector ‘bleeding out’ with looming £1.5bn Christmas Eve rent bill December 21, 2021 A £1.5bn rent bill and the sudden drop in seasonal shopping means the hospitality sector faces a flood of bankruptcies in the new year, according to reports. The £1.5bn payment for rent is due on Christmas Eve, according to the Telegraph, which first reported the news. But a third of pubs, bars and restaurants have [...]
One in three nightclubs fear imminent closure without government aid as sector faces Omicron ‘death sentence’ December 20, 2021 One third of nightlife businesses are afraid they will close within a month, without urgent government support, as ministers mull further measures this week. One fifth of firms fear they could lose their entire workforce without more financial aid, according to a survey of more than 500 venues by the Night Time Industries Association (NTIA). [...]
In the journey of learning to live with Covid-19, our businesses need support December 20, 2021 For many City shops, restaurants and pubs, the new work from home advice has cancelled Christmas. These are dark winter days for businesses who were expecting this period to be their busiest time. But the faster we all get jabbed, the quicker we can get back to the office. All eligible City workers need to [...]
Shoppers shy away from West End on ‘critical’ weekend before Christmas as bosses call for urgent support December 20, 2021 Shoppers were deterred from visiting central London’s shopping district last weekend as Omicron infections continue to rise across the capital. Retailers have called on the government for more financial support as businesses have been hit by falling footfall in the crucial trading period before Christmas. It comes after health experts have advised Brits to prioritise [...]
Exclusive: London rides wave of floats to snatch Europe listing crown December 20, 2021 London has ridden the crest of a wave of companies listing in the capital over the last year, reveals a fresh study shared exclusively with City A.M. today. The City muscled out its rivals on the continent to take the crown as Europe’s top listing hotspot, research by consultancy KPMG has found. The capital breezed [...]
‘We’ve been thrown under the bus’: hospitality demands government support as the UK faces further restrictions December 20, 2021 Business owners have called for greater government support and stronger communication as the UK heads towards another lockdown.
Concerns over looming circuit breaker lockdown to weigh on London markets this week December 19, 2021 Concerns over whether the UK is heading for a pre-Christmas circuit breaker lockdown are likely to loom over investors this week. Ministers are reportedly drawing up plans to saddle Britain with tighter restrictions on socialising and household mixing to curb the rapid spread of Omicron. Health secretary Sajid Javid yesterday refused to rule out imposing [...]