Death of the office? Don’t tell City businesses as leases shoot up in the first quarter April 26, 2022 London’s office market looks fitter and healthier than ever before, according to the two of the UK’s largest property firms, despite the lures of working from home. Take up of office leases in central London shot up 89 per cent year-on-year in the first quarter, CBRE data shared exclusively with City A.M. revealed. City firms [...]
The City View: Musk on cusp of Twitter buy, and global markets down April 25, 2022 Today Andy Silvester talks to Jack Barnett, City A.M.’s Economics and Markets reporter. They go through the global market dip and why China’s zero-Covid lockdowns are concerning investors; bank earnings for Q1; and new ONS data showing that 9 in 10 households have recorded an uptick in their cost of living. And in the news, [...]
Red Wall Conservative voters will abandon Johnson if he backs down on net zero April 25, 2022 Barely two years have passed since Parliament unanimously introduced the world’s first legal commitment to deliver net zero carbon emissions by 2050. But with energy prices rising and cost of living pressures tightening, some on the right wing of politics – from Nigel Farage to Steve Baker – are leading a rearguard action to overturn [...]
Small businesses suffer unprecedented cost assault in sign of more economic woe April 25, 2022 Swelling costs are eating away at small businesses’ margins in a sign that a key engine of the UK’s recovery is beginning to stall, reveals fresh research published today. Nearly nine in 10 small businesses have experienced an uptick in their operating costs, squeezing their room to combat what is expected to be a weaker [...]
Exclusive: Labour takes seven-point lead in new City A.M. poll April 24, 2022 Labour has taken a seven-point lead over the Conservatives in a new poll, with key local elections just weeks away. Forty per cent of people said they would vote for Labour in the next General Election in a BMG Research/City A.M. poll, while the Conservatives polled 33 per cent and the Liberal Democrats eight per [...]
Britain’s biggest banks in higher interest rate profit boost as earnings season kicks off April 24, 2022 Profits at Britain’s biggest high street lenders have been boosted by the Bank of England hiking interest rates to tame historic high inflation. That’s according to top City analysts who are forecasting the UK’s largest banks to have reaped the rewards of being able to charge borrowers more for loans. A higher interest rate environment [...]
Week ahead: City eyes cladding bill impact on house builders’ bottom lines April 24, 2022 Signs of the negative impact of the government turning to home builders to fix the cladding crisis is likely to draw City traders’ gaze in a week of jam packed corporate and economic announcements. London’s capital FTSE 100 index dipped 0.78 per cent to 7,521.68 over the last week, while the mid-cap domestically-focused FTSE 250 [...]
Govt urged to launch nationwide ‘holiday fun fund’ for poorer families to battle rising cost of living April 22, 2022 The government should create a new nationwide “holiday fun fund” as part of their response to the rising cost of living, the Lib Dems said today. The party believes it could help make sure children from poorer families can still enjoy outings and activities during school breaks. The Liberal Democrats also want to ensure all [...]
Cost of living crunch looms as retail sales continue to fall April 22, 2022 The UK’s cost of living crisis is increasingly showing signs in consumer spending habits, with retail sales volumes continuing their descent, according to the latest figures. Sale volumes shrank by 1.4 per cent in March 2022, following a fall of 0.5 per cent dip in February. However, sales volumes were 2.2 per cent above their [...]
Brits already cutting spending amid cost of living squeeze April 22, 2022 Predictions that the historic cost of living crunch will trigger a sharp pull back in spending look nailed on come through, two surveys suggest. Around one in three households have already cut spending just four months into the year, consultancy KPMG said today. Brits are forgoing discretionary purchases in response to greater pressure on their [...]