UK economy shrank 2.9 per cent in January as third lockdown took hold March 12, 2021 Monthly GDP fell by 2.9 per cent in January as a fresh national lockdown took hold of the UK economy, according to new ONS data. The January figure, which was 9 per cent below its February 2020 level, was driven by a decline of 3.5 per cent in services, the Office for National Statistics said. [...]
Brexit: UK postpones new checks on EU goods for six months March 11, 2021 The UK has today moved to postpone implementing post-Brexit checks on food coming from the EU for another six months. Boris Johnson’s UK-EU relations chief Lord David Frost said the decision was made to give traders time to focus on reopening as the Covid restrictions are eased instead of spending time on the extensive new [...]
WPP commits to London headquarters despite plans to slash office space March 11, 2021 Advertising giant WPP today committed to its London headquarters despite wider plans to slash office space amid a shift to home working. The media group, which owns ad agencies such as Ogilvy, Grey and Group M, has said it will look to reduce its office footprint by a fifth in the coming years. Chief executive [...]
Oxford Street: This is what the UK’s shopping destination could look like after lockdown March 11, 2021 Oxford Street – the world famous shopping destination that attracts millions of Londoners and tourists every year – is set to look drastically different when the city emerges from the latest coronavirus lockdown. An arts centre, 25 metre artificial hill and play areas in bus lanes are among the ideas that have been floated to [...]
Government must get people back on public transport to drive green recovery, says Go-Ahead boss March 11, 2021 Encouraging people to get back on public transport when the current Covid restrictions are lifted is vital to the government’s net zero plans, Go-Ahead chief executive David Brown has said. Speaking to City A.M., he said that the future of the country’s public transport providers was bound up with “where the government wants to go [...]
Stimulus passes as Bitcoin marches on March 11, 2021 Bitcoin extended its winning streak yesterday, soaring to more than $56,000 before a pullback last night took it back down to just below the $55,000 level, where it is currently trading.
BP makes almost $4bn from energy trading as oil demand wanes March 11, 2021 BP’s trading division is said to have made almost $4bn (£2.8bn) last year as the oil major weathered the impact of the pandemic on oil demand. The blue-chip giant’s trading profit was only just short of the record amount of slightly over $4bn it made in 2019, according to internal documents seen by Reuters. Trading [...]
‘Unacceptable’ Heathrow queues risk UK’s economic recovery, airport says March 10, 2021 Heathrow’s chief operating officer has today said that the length of delays currently facing travellers at the UK’s biggest airport were “unacceptable”. Speaking to MPs at the Home Affairs Select Committee today, Emma Gilthorpe said that some people were having to queue for three to six hours to pass through border control. And she warned [...]
Brits ‘to boost UK GDP by £16bn in post-lockdown spending’ as excess savings balloon to £160bn March 10, 2021 Brits to boost UK GDP by £16bn in post-lockdown spending as excess savings balloons to £160bn
Next snaps up stake in womenswear brand Reiss for £33m March 10, 2021 High street giant Next has acquired a stake in womenswear retailer Reiss for £33m. The fashion firms this morning announced that Next will purchase a 25 per cent equity stake in Reiss. Warburg Pincus, Reiss’s private equity owner, said the deal values the company at around £200m. As part of the strategic partnership, Reiss will [...]