Sadiq Khan calls for Sunak to U-turn on scrapping VAT exemption for tourists December 7, 2020 Sadiq Khan has added his voice to the chorus of figures calling for Rishi Sunak to U-turn on his decision to scrap the UK’s VAT exemption for tourists. Khan today said the move would be “hugely counter-productive” as the UK economy recovers from the Covid crisis next year and that revenue lost from the change [...]
The Hollywood of Europe: How the Canary Islands are being reinvented as a film hub October 31, 2020 In the opening scenes of action-thriller Jason Bourne, the film’s forgetful hero, played by Matt Damon, strides through violent protests on the streets of Athens. He meets his spy partner in the iconic Syntagma Square, before being chased through a sea of blue and white flags by a menacing CIA hit squad. But for eagle-eyed [...]
Scrapping the VAT refund for tourists would be catastrophic for the UK economy October 30, 2020 Retail, hospitality and tourism are three of the sectors that have been hardest hit by Covid-19 and the ongoing lockdown restrictions. Employing close to six million people, job losses in these sectors are expected to be devastating. The government should be doing all it can to support these businesses at this critical time. Instead, it [...]
Retail giants urge Sunak to U-turn on abolishing VAT refund for tourists October 19, 2020 A group of 16 UK retail giants has urged Rishi Sunak to U-turn on his plan to abolish the VAT refund for international visitors from next year. The group – which includes the heads of Paul Smith, Ted Baker, The White Company, Fortnum and Mason and Charles Tyrwhitt – said abolishing the VAT refund would [...]
Hotel Chocolat swings to loss as pandemic bites into sales September 29, 2020 Luxury chocolatier Hotel Choclat swung to a statutory loss in the 52 weeks to June, after shuttered commuter hubs and store closures during the crucial Easter period swallowed up sales and hammered finances. The results Revenue rose three per cent for the 12 months to the end of June, after a 14 per cent hike [...]
Shaun Bailey: London deserves better than the mayor’s message of doom September 8, 2020 Tube use is down 70 per cent. High streets are empty. Only 17 per cent of people are back in offices. These are unprecedented times for London. So you’d think the mayor of London would have a plan to get people back to their offices safely and securely. You’d think he would be innovative, like [...]
A three-step recovery plan for London’s West End September 4, 2020 Six months since the government first urged employees to work from home, they are now being asked to return. Given their track record of obedience, the government expected workers to be returning to the office in high numbers, but that is not what we have seen this week, with potentially disastrous and well-publicised consequences for [...]
London theatres call for ticket discount scheme to revive West End September 2, 2020 London’s theatres have backed calls for the government to fund a discount scheme similar to the Eat Out to Help Out offer to encourage audiences to return to the West End. The Centre for London, a think tank focused on the capital, has urged the government to introduce culture vouchers to bring visitors back to [...]
O2 weathers coronavirus storm as sales surge July 30, 2020 O2 appeared to weather the Covid-19 storm in the three months to June, with revenues declining just under four per cent year on year, as handset sales surged during lockdown. O2 results O2’s UK operations notched a 10.1 per cent year on year increase in handset sales to €428m over the quarter. Handset revenues saw [...]
Vodafone targets 2021 IPO for European towers unit July 24, 2020 Vodafone today confirmed it would target an early 2021 initial public offering (IPO) for its European telecoms towers business. The spin-off will see the division renamed Vantage Towers after Vodafone signalled its intention to separate the unit to maximise shareholder value. Vodafone said it will seek a prime listing in Frankfurt for its European mast [...]