Car dealers confident for coming year as Brexit fears dwindle February 25, 2020 An overwhelming majority of UK car dealerships are confident about the outlook for their business, despite a challenging 2019 for the motor industry. A new survey by Close Brothers Motor Finance shows that 98 per cent of dealers were optimistic about the future, with almost two-thirds (63 per cent) describing themselves as “very confident”. The [...]
Consumers ‘uncomfortable’ returning to pubs and restaurants after coronavirus lockdown April 22, 2020 The hospitality industry could continue to struggle when venues are allowed to reopen after the UK coronavirus lockdown, as the latest research showed customers are nervous about returning to pubs, bars and restaurants. All hospitality and leisures businesses were ordered to close when the government announced the UK coronavirus lockdown on 23 March, and pubs, [...]
Next shows signs of recovery after sales plunge during pandemic July 29, 2020 Next has reported signs of recovery in the second quarter of 2020 after sales picked up slightly following store reopenings, with the company now expecting profit of £195m for the year. The results Full price sales in the three months to 25 July dropped 28 per cent year on year, but showed signs of improvement [...]
London Stock Exchange boss appointed as new FCA chief June 22, 2020 Chancellor Rishi Sunak has today appointed Nikhil Rathi, the current chief executive of the London Stock Exchange, as the permanent boss of the Financial Conduct Authority. Rathi will replace Christopher Woolard, who was serving as the FCA’s interim chief executive following former boss Andrew Bailey’s move to become governor of the Bank of England. The [...]
The City View: Emily Nicolle on London’s fintech scene July 27, 2020 Subscribe to The City View Podcast: Apple / Google / Spotify / RSS Today Andy Silvester is joined by City A.M.‘s very own Emily Nicolle, our Night and Tech Editor. Emily talks about exclusive new data on the state of Britain’s fintech finances, Apple’s ongoing battles with the European Commission and big tech’s recent troubles. Andy also looks at the government’s removal [...]
New car sales fall in ‘disappointing’ August for market September 4, 2020 New car sales dropped again last month, reversing July’s increase, with just over 87,000 models sold in what is traditionally one of the quietest months for trading. According to new figures from the Society for Motor Manufacturers and Traders, new car sales fell 5.8 per cent in August. In July, the first full month of [...]
Travel industry calls on government to extend refund payment timetable May 5, 2020 The UK’s leading travel association has called on the government to extend the time period in which holiday firms must refund customers or risk “huge job losses”. Under current rules, travel firms are legally obliged to refund customers within 14 days, a timeline that ABTA chief Mark Tanzer described as “impossible” in the current circumstances. [...]
Economic recovery will be determined by public policy, says BoE’s Haldane July 7, 2020 The UK’s path to economic recovery will be determined by the course of public policy, the Bank of England’s chief economist Andy Haldane said today. “Our economic destiny lies not in the stars but to a significant extent in ourselves, in what policy course we choose,” Haldane said in an online webinar. “What is done [...]
Ford UK chairman calls for government zero emissions strategy June 23, 2020 The chairman of Ford in the UK has today called on the government to join with the automotive industry in developing a long-term strategy to hit its target of only selling zero emissions vehicles by 2035. Speaking at today’s virtual Society of Motor Manufacturers and Traders (SMMT) summit, Graham Hoare said: “A successful future for [...]
Investor sentiment in City upbeat as Trump hints at orderly transfer of power November 24, 2020 Despite the lacklustre start to this week’s trading, investor sentiment in the City and beyond is certainly becoming much less pessimistic. This renewed push appears to have come about as a result of overnight events in the US, where Joe Biden is starting the transition process to a new US administration next year. “President Trump [...]