Heathrow plummets to £2bn loss in ‘toughest year in airport’s history’ February 24, 2021 Heathrow Airport plummeted to a loss of more than £2bn last year, amid the “toughest year by far” in its 75-year history, the company announced this morning. The airport crashed to an annual pre-tax loss of £2.01bn for the 12 months to 31 December, down from a profit of £546m in 2019. Revenue plunged 62 [...]
Chancellor set to extend stamp duty holiday ‘until end of June’ February 24, 2021 Chancellor set to extend stamp duty holiday 'until end of June'
Easy does it for travel and leisure as they underpin the FTSE 100 today February 23, 2021 After a promising start European markets struggled to maintain their early market optimism today. However, some decent gains continue in the likes of travel and leisure stocks, with multi-month highs in a lot of cases. Over the last three days this renewed buoyancy has been evident in anticipation of a possible reopening, and with a [...]
Unemployment hikes to 5.1 per cent in biggest leap in a decade February 23, 2021 The UK unemployment rate marked its highest increase in 2020 in more than a decade, according to the latest official statistics, as the labour market continues to feel the weight of months of closures during the pandemic. The annual increase in the unemployment rate last year was the largest jump since the wake of the [...]
Roadmap: Hospitality industry faces financial ruin as sector remains shut until April February 22, 2021 The hospitality industry has reacted with fury as the Prime Minister plans to allow pubs and restaurants to serve outdoors only and not until 12 April. Currently, only 40 per cent of businesses in hospitality have outdoor spaces, meaning most will still face restrictions after April. In response to today’s announcement, UK Hospitality Chief Kate [...]
Boris Johnson indicates furlough scheme will be extended past April February 22, 2021 Boris Johnson has today vowed “not to pull the rug out” on people receiving emergency Covid support, indicating that he will extend the furlough scheme and other measures past April. Johnson outlined England’s roadmap out of the current Covid lockdown, telling MPs that the easing of lockdown would be a “one way road to freedom”. [...]
A wealth tax could raise as much as £55bn – but is it really the answer? February 22, 2021 Our friends at Tortoise are hosting an all-day summit on the Future of Money this coming Thursday. They’ve opened up the exclusive event to a small number of City A.M. readers, who can register here with the code GUESTOFCITYAM. Here, Tortoise’s Kim Darrah and Giles Whittell look at what a mooted wealth tax could mean [...]
What will Boris Johnson’s ‘roadmap’ for exiting lockdown look like? February 22, 2021 Boris Johnson has vowed to set out a “roadmap” for lifting lockdown measures this afternoon, as the UK continues to make rapid progress with its vaccine rollout. While the shape of the timeline has yet to be revealed, the Prime Minister has said he will provide dates for lifting specific measures “if we possibly can”. [...]
Onthemarket toasts pandemic property boom with strong hike in revenue February 22, 2021 Onthemarket has hailed a busy year of house-hunting during the pandemic, as the property platform reported a surge in revenue for the year to 31 January. Onthemarket said it expected full-year adjusted revenue to be around £22.5m, marking a 20 per cent year-on-year hike during the pandemic. It also expects adjusted operating profit for the [...]
New UK taxes have raised £48bn in last decade, says new study February 22, 2021 The UK taxman has collected £48bn in revenue through new taxes in the past decade, according to a British accountancy group. UHY Hacker Young said the figures showed that a series of taxes under successive Conservative chancellors have “not fit in with their aim to simplify the UK tax system”. The study showed that the [...]