Zegna boss: The suit is not dead – but the tie is May 19, 2022 “Let me be clear – the suit is not dead. But the tie is!” That’s the view of Ermenegildo Zegna, CEO and chairman of the Italian luxury fashion house Zegna. Speaking at the Financial Times’ business of luxury conference on Thursday, Zegna said knitwear was the “new tie” and demand for luxury leisurewear continues to [...]
Architects call for public inquiry over plans to bulldoze ‘important’ M&S flagship Oxford St store May 19, 2022 A coalition of historians and architects have urged Michael Gove to hold a public inquiry into plans to bulldoze the Art Deco M&S flagship store on Oxford St. The supermarket hopes to demolish the iconic building, constructed in 1929, in order to create a new 10-storey building, with office space and a gym. Architects – [...]
Young’s to swap salmon and chicken for cheaper alternatives May 19, 2022 Pub chain Young’s has said it is prepared to switch pricier menu staples for cheaper alternatives as inflation stands at a 40-year high. Speaking to CityA.M., Young’s CEO Patrick Dardis said the company had switched salmon for fresh trout after steep price increases. “Pork is cheaper than chicken and so we have the ability to [...]
GPE boss warns London’s office rebound could hit a wall amid runaway inflation May 19, 2022 The boss of GPE, formerly known as Great Portland Estates, has warned that London’s office leasing rebound could hit a wall as inflation shrinks the appetite for new developments. The capital’s post-pandemic recovery for offices has seen some of the UK’s largest developers – as well as GPE – hail record leasing activity and surging [...]
Heartbreaking testimonies at Horizon IT inquiry today as former sub-postmistress says ‘I just couldn’t cope anymore’ May 18, 2022 A former sub-postmistress told the Horizon IT inquiry today how she cashed in £50,000 of her pension as she struggled to pay the debts the Post Office claimed she owed. Heather Earley described how one customer to her branch repeatedly exploited a flaw in the system that saw her cash withdrawals credited as deposits on [...]
Space-tech real estate to take-off as investment gathers pace May 18, 2022 Space-tech real estate is forecast to take-off, following in the footsteps of the UK’s post-Covid-19 life sciences property boom, according to Savills. The UK has doubled down on its blossoming industry, which pulls around £16bn into the economy each year, as it looks to launch from its own soil this summer. “The space industry [...]
High street bosses plead for crisis cash to help with dramatic energy bill hikes May 18, 2022 High street businesses have called for emergency help over skyrocketing energy bills, as bosses warn a cocktail of cost pressures threaten to subdue their pandemic recovery. Without government action, historic levels of inflation and dramatic energy bill rises pose a risk to the beauty sector’s recovery, the British Beauty Council has said. The industry group [...]
Netflix lays off 150 staff amid subscriber dip May 18, 2022 Following a brutal set of results last month, Netflix has laid off around 150 staff.
Experian posts ‘very good year’ with revenue and profits booming for credit reporting firm May 18, 2022 Credit reporting firm Experian reported a strong full year this morning with revenue up 17 per cent at $6.3bn.
Investors look through inflation headwinds to focus on strong earnings May 17, 2022 Investors dismissed concerns over inflationary pressures firming in the UK economy and focused on a string of positive company earnings, lifting London’s indexes today. The capital’s premier FTSE 100 index climbed 0.72 per cent to 7,518.35 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, [...]