Nationwide posts strongest results on record on the back of Britain’s booming property market May 20, 2022 The world’s biggest building society, Nationwide, today posted its strongest financial results on record on the back of Britain’s booming property market. The mortgage lender said its underlying profits had more than doubled from £790m for the financial year 2021 to £1,604bn for the financial year 2022. Nationwide said it had performed well across its [...]
How The Glass Menagerie landed Hollywood A-lister Amy Adams May 20, 2022 Hollywood star and six-time Academy Award nominee Amy Adams is set to enchant the West End next week when she begins her run in a radically reimagined version of Tennessee Williams’ The Glass Menagerie. She will play Amanda Wingfield, an overbearing matriarch who, abandoned by her husband and bringing up her two children, longs for [...]
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.