Boris Johnson’s sherpa intensifies Brussels talks in hope of Brexit breakthrough August 30, 2019 Boris Johnson’s chief negotiator David Frost is to meet twice a week with his European counterparts throughout September, as the two sides step up efforts to reach a new Brexit deal. Frost, the Prime Minister’s sherpa, has been travelling to Brussels regularly since he was appointed to the role last month. But those meetings will [...]
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 [...]
JD Sports calls for ‘rental realism’ as coronavirus impacts footfall July 7, 2020 JD Sports this morning warned landlords that it will seek “rental realism”, including greater flexibility in property leases, due to a reduction in footfall during the UK coronavirus pandemic. The retailer said it is “inevitable” that it will require more flexibility in order to maintain a large physical store estate in the UK and Ireland. [...]
Gap posts surprise jump in sales as online business doubles August 28, 2020 Fashion retailer Gap posted a surprise jump in quarterly sales as its online business almost doubled due to consumers buying comfortable “stay at home” clothes during the coronavirus pandemic. The US firm said same-store sales were up 13 per cent in the second quarter, compared to analysts’ forecast of a 20.97 per cent drop. The [...]
UK services firms and consumers grow cheerier despite coronavirus February 28, 2020 Optimism in the UK services sector rose at its fastest pace in almost five years in the three months to February, a survey has shown, in the latest sign that the removal of some political uncertainty has cheered businesses. A separate survey today showed that UK consumers also became more optimistic in February, with rising [...]
UK house prices tumble at fastest rate since 2009 amid coronavirus June 2, 2020 UK house prices dropped at the fastest rate since the financial crisis in February 2009 last month, figures have shown, as the coronavirus pandemic brought the property market to a standstill. House prices tumbled by 1.7 per cent in May compared to growth of 0.9 per cent a month earlier, according to the closely watched [...]
UK GDP suffers largest fall since 1979 in first quarter of 2020 June 30, 2020 UK GDP slumped by 2.2 per cent in a coronavirus-ravaged first quarter of 2020, its worst slump since 1979, data confirmed today. The figure was slightly higher than the Office for National Statistics’ (ONS) initial estimate of the pandemic hit. It initially measured a two per cent fall. The drop revealed today is the worst [...]
Unlocking the UK could trigger 6 years of economic growth in just 10 months March 2, 2021 Can you remember what you were doing on the eve of the pandemic? It should be easy to recall. But what were you doing in early 2014? Why do I ask? Well, in a few weeks’ time, as lockdown ends, the economy is likely to be to back to where it was in the first [...]
Markets live: US stocks slip as retail sales miss target while FTSE 100 slumps August 14, 2020 Wall Street opened lower after disappointing US retail data while the FTSE 100 languished in the red as the UK’s decision to add France to its quarantine list weighed down travel stocks. The Dow Jones and S&P 500 slipped in early trading on Wall Street, but recovered to tick up 0.11 per cent and 0.01 [...]
Consumer spending bounces in January but high street woes continue February 11, 2020 Brits ramped up their spending in January after a thrifty December, according to new data, in the latest sign that the UK economy may have bounced back at the start of 2020. Consumer spending grew 3.9 per cent in January, data from payment provider Barclaycard showed today, up from the one per cent growth witnessed [...]