Coronavirus: London to lose £10.9bn from tourist spending, Sadiq Khan warns October 23, 2020 London is set to miss out on £10.9bn from a drop in tourist spending as a result of the coronavirus crisis, Sadiq Khan has warned, as footfall in the capital remains well below pre-pandemic levels. Overseas tourists will spend £7.4bn less on goods and services in London this year, while domestic tourists will spend £3.5bn [...]
Shell makes surprise bid for Post Office broadband division October 22, 2020 Oil giant Shell is said to have made a surprise entry into the race to snap up the Post Office’s telecoms division, paving the way for a potential shake-up of the UK broadband market. The FTSE 100 company already has a presence in the telecoms market after taking control of energy and broadband provider First [...]
CANZUK is a cause in need of a champion — enter Jacinda Ardern October 22, 2020 This past weekend’s sweeping victory for New Zealand Prime Minister Jacinda Ardern brought her Labour Party its largest majority in five decades. Unusually for New Zealand politics, this could mean that Ardern oversees a government without any coalition partners. Yet she appears keen to consider a coalition government nonetheless. It is to that spirit of [...]
UK marketing slump continues after Covid-19 sparks record decline October 22, 2020 British companies reported another “drastic” cut in marketing budgets in the third quarter after the outbreak of coronavirus sparked the largest ever decline in spend. The Covid-19 pandemic has prompted a sharp drop in ad spend across all formats, with negative sentiment leading marketers to slash budgets. A net balance of -41.0 per cent of [...]
Netflix subscriber numbers fall short as Covid-19 lockdown boost fizzles October 20, 2020 Netflix tonight posted the weakest new subscriber numbers in four years as streaming competition increased, lockdowns eased and live sports returned to television. The company added 2.2 million paid Netflix subscribers globally during the quarter to 30 September, missing Wall Street’s target of 3.4 million. Earnings per share also landed below analyst expectations at $1.74. [...]
City of London pledges to lure in small businesses and artists in plan to ‘reinvent itself’ October 20, 2020 The City of London Corporation has pledged to “reinvent itself” by encouraging small businesses and artists to “re-enter the city centre”, as the capital attempts to shake off the economic damage of the pandemic . In a five-year target to reinvigorate London, the City has drawn up plans to motivate small businesses and artists to [...]
FTSE 100 goes in reverse as sterling strengthened while Covid restrictions increased October 19, 2020 FTSE 100 goes in reverse as sterling strengthened while Covid restrictions increased
Half of UK financial services staff want shift to flexible working October 19, 2020 Half of Brits working in the financial services sector want to shift to a more flexible working model after the coronavirus pandemic ends, a new survey has revealed. The outbreak of Covid-19 has sparked a major change in working habits, as stay-at-home orders have fuelled a sharp rise in home working. A survey by KPMG [...]
Wetherspoons boss Tim Martin slams lockdown measures as ‘total chaos’ after pub chain sinks to loss October 16, 2020 JD Wetherspoon shares sank more than 13 per cent this morning as the pub chain swung to a loss for the first time since 1984 during the pandemic. Chairman Tim Martin slammed recent lockdown measures as “total chaos”, after months of closures during the coronavirus crisis hammered the pub group’s sales and revenue. The results [...]
Superdry finance chief quits after 16 months October 16, 2020 Superdry has announced that its chief financial officer has stepped down after just 16 months in the role. The fashion brand’s share price dropped more than four per cent this morning after it announced that Nick Gresham had left the company with immediate effect. Superdry, which said Gresham had decided to leave the firm, has [...]