London’s Trocadero wins High Court battle against Cineworld over millions in unpaid rent September 28, 2021 London’s Trocadero Centre in Piccadilly Circus has won a high court battle against cinema chains Cineworld and Picturehouse Cinemas over millions of pounds in unpaid rent. The owners of London’s Trocadero Centre brought legal action against the two chains and the original tenant, Gallery Cinemas, over outstanding bills since June 2020. The three firms, which [...]
City Giving Day returns to the Square Mile September 27, 2021 The sun shone on The Lord Mayor’s Appeal’s eighth annual City Giving Day, which saw over 500 businesses and charities turn the City of London red. This brilliant event enables City companies and employees to celebrate and showcase their philanthropic and volunteering achievements and encourage others to get involved. This year saw a welcome return of [...]
Labour declares tax war on Amazon as plans to support high street are unveiled September 27, 2021 The Labour Party has set out plans to shift the tax burden to online giants like Amazon as the current system is “stacked” against high street firms, Shadow chancellor Rachel Reeves said this morning. Reeves said she would freeze business rates next year if she was in No 11, while also offering a cut for [...]
Sunak must nurture British business with fair taxes and smart reforms September 27, 2021 London’s famous vibrancy has returned. City streets once again teem with activity, pent up for so long but now unleashed. Yet it would be a mistake to assume the journey ahead is an easy one. London – like the rest of the UK – stands at a crossroads. And the path we choose will decide [...]
Editorial: Tax-hiking ministers aren’t entitled to demand pay rises, too September 27, 2021 To listen to Government ministers at the moment, one could be forgiven for thinking we were in the middle of an economic boom. Amid an entirely predictable collapse in haulier numbers and knock-on shortages, the response so far has been on the one hand an underwhelming visa scheme and on the other a demand for [...]
Sadiq Khan: London battles ‘potential existential threat’ post-restrictions September 25, 2021 London has been “hollowed out” amid the pandemic, which has pushed people away from city centres faster than ever before, London mayor Sadiq Khan has said. Covid-19 restrictions and economic uncertainty has made penny pinching Brits more reluctant to make use of the capital’s bars, restaurants and theatres, he added. “It’s been hollowed out because [...]
High street dentists and pharmacies afflicted with Covid side effects September 24, 2021 High street dentists, opticians and independent pharmacies have been badly affected by the pandemic, a fresh report has revealed. In a report titled Small Business, The Big Picture, insurer AXA, said small and medium sized-retail businesses were in a strong position with hopes for a healthy recovery from lockdowns. However, health businesses have struggled with [...]
Nationwide CEO stepping down after five years at the helm September 23, 2021 Nationwide Building Society’s chief executive Joe Garner is stepping down after more than five years at the helm. The lending giant said the plan will “support an orderly transition to new leadership” in what will mark a clean sweep at the top as chairman David Roberts also heads for the exit. Nationwide announced that Kevin [...]
Drill, baby, drill: Arctic set for £230bn oil and gas bonanza with JPMorgan, Barclays and Citi piling in September 23, 2021 Oil and gas companies are set to ramp up production in the Arctic by 20 per cent in the next five years, according to a new report shared with City A.M. this morning. The main Arctic expansionists – Gazprom, Total and ConocoPhillips – are backed by hundreds of billions of pounds from dozens of City [...]
Cloudy outlook to prompt MPC to hold fire on rates and QE September 23, 2021 A slowing economic recovery from the Covid-19 crisis, sharp energy price rises and tax hikes squeezing Brits’ household incomes are likely to prompt the Bank of England’s committee of rate setters to err on the side of caution today. The Bank’s monetary policy committee (MPC) will announce its latest decision on rates and the fate [...]