Global luxury market on track to beat pre-Covid sales this year – but Europe lags behind November 11, 2021 The global luxury goods sector is set for a powerful rebound and will outperform pre-pandemic levels this year, but Europe lags behind in the absence of tourists’ purses, consultancy Bain has said. Global sales of personal luxury goods – which include fashion, cosmetics, perfumes, watches, handbags and jewellery – are set to reach €283bn (£242bn) this [...]
D-Day for Rishi Sunak: What do City insiders expect from the Autumn Budget? October 27, 2021 In today’s Autumn Budget, Chancellor Rishi Sunak will outline how he plans to “drive growth while keeping the public finances on a sustainable path”. City A.M. checked in with a number of Square Mile professionals this morning to see what they hope or expect the Budget will bring today. VAT Yesterday the news broke that there will [...]
This week’s Budget: An overview of the £30bn of investments announced so far October 25, 2021 More than £30bn of investment has already been revealed by the Treasury ahead of Wednesday’s Budget. Chancellor Rishi Sunak said on Sunday that “(over) the last year, I’ve been focused on delivering our plan for jobs, protecting people’s livelihoods, their incomes, their jobs”. But he said he would now be “looking to the future and [...]
Exclusive: London distilleries call on Chancellor to not raise alcohol duty October 20, 2021 London distilleries have urged the Chancellor not to hike alcohol duty at the upcoming Budget. Spirit makers Hayman’s, Beefeater Gin, Brixton Distillery, Half Hitch Gin and East London Liquor Company, called on Rishi Sunak to help the sector be part of the pandemic recovery, in a letter shared with CityA.M. A duty increase on October [...]
West End bemoans business rates delays as reform heads for the long grass October 15, 2021 Central London bosses last night said another delay to business rates reform would be a “further blow” for beleaguered bars and restaurants. Chancellor Rishi Sunak has reportedly delayed a fundamental review of the levy, further rubbing salt in the wounds of West End businesses teetering on the brink after several lockdowns and fledgling return of [...]
Editorial: Transport for London needs a funding model fit for a modern capital September 22, 2021 On the tube, mind the gap is supposed to be a cautionary warning for absent-minded tourists. Alas over the course of the pandemic it’s become something rather more serious – a constant, if pithy, reminder of the black hole at the heart of Transport for London’s finances. London is a great global city, but the [...]
Sadiq Khan’s £15 congestion charge is preventing London’s bounce back from the pandemic August 20, 2021 There is rarely such a thing as a temporary regulation or tax, even those instituted in response to an emergency. Politicians enjoy the power to regulate and even more the receipt of taxes. But regulation and taxes are the enemy of innovation and business, especially small businesses. The damage they do can take years to correct. [...]
‘Green’ status should be default for most of world, say BA and Easyjet bosses August 2, 2021 The UK’s airline industry has called for more countries to be added to the “green list” for travel this week, and it should be the “default” for most places. Transport secretary Grant Shapps is due to update the current traffic light system for international travel later this week. In a letter to Shapps signed by [...]
WH Smith’s airport takeover is InMotion after Dixons Travel shop deal July 8, 2021 WH Smith's airport takeover is InMotion after Dixons Travel shop deal
Traffic light system could cost UK airports £2.6bn this summer June 9, 2021 The UK’s airports risk losing at least £2.6bn for the second year running this summer under the current traffic light travel system, as more travel and aviation leaders called for the scheme to be scrapped. Compared to last summer’s travel corridor system, trade body the Airline Operator’s Association (AOA) said that there were far fewer [...]