London Mayor announces funding for capital’s high streets post-pandemic July 21, 2021 The Mayor of London, Sadiq Khan, has announced funding for 35 projects across London to ensure the protection of the capital’s high streets post-pandemic. The high streets of London were heavily impacted by the pandemic. The British Retail Consortium estimate there are about 5,000 fewer shops since the pandemic started. The high streets have also [...]
UK loses £7bn from Omicron restrictions’ impact on travel and tourism February 8, 2022 The UK has lost around £7bn from the impact of Omicron restrictions on travel and tourism, according to World Travel and Tourism Council (WTTC) data. “Imposing unnecessary travel restrictions to ‘deal’ with Omicron was not backed by science and cost the UK economy £7bn in lost revenues,” said WTTC’s chief executive Julia Simpson. “Travel is [...]
Lidl to create 1,200 new warehouse jobs by 2025 for Luton distribution centre March 25, 2022 Lidl will create more than 1,200 new warehouse jobs by the end of 2025 as construction on a new distribution centre nears completion. Construction was started on a new Regional Distribution Centre (RDC) in Luton last year, which boasts 1.2m sq ft. Now, the discount retailer is looking to fill roles at the warehouse. Team [...]
itim Group plans to float in London as Justin King joins board June 8, 2021 Itim Group plc has announced its intention to float on London’s AIM market, capitalising on structural shifts in the retail sector as coronavirus restrictions ease. The retail software as a service (SaaS) company is seeking to raise between £10 million and £12 million in an IPO. WH Ireland will act as sole broker and the [...]
Heritage campaigners and M&S roll up sleeves for public inquiry over Oxford St flagship store July 27, 2022 Heritage campaigners have started crowdfunding to battle Marks and Spencer’s plans to demolish its 1929 flagship Oxford St store this autumn. M&S hopes to demolish the Marble Arch building, which it says has “asbestos throughout,” to create a new 10-storey building, with office space and a gym. A two-week public inquiry in October will assess [...]
Energy firms recharge as windfall tax fears ease May 25, 2022 Investors today piled back into London-listed energy firms that were pummeled earlier this week by rumours they will be spiked by the government including them in a windfall tax on the energy sector. The capital’s premier FTSE 100 index jumped 0.51 per cent to 7,522.75 points, while the mid-cap domestically-focused FTSE 250 index, which is [...]
Supermarkets drag down London indexes on spending jitters April 13, 2022 London’s top indexes were muted today as investors ditched shares in supermarkets despite Tesco posting bumper profits. The capital’s premier FTSE 100 index edged 0.05 per cent higher to 7,580.80 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, dipped 0.12 per cent to 20,984.45 [...]
City Moves: Who’s switching jobs in the Square Mile today? December 10, 2021 City A.M.’s Millie Turner provides a roundup of the most important hires and job moves across the City, every morning. Email citymoves@cityam.com to be featured. Tesco Bank Tesco Bank has bolstered its board with a new independent non-executive director, who brings three decades of financial services experience to the position. Liz Buckley, a former group transformation director at Direct Line Group, has [...]
Rishi Sunak and Jeremy Hunt to shun tax cuts in March budget despite £11bn energy windfall January 23, 2023 Jeremy Hunt and Rishi Sunak will hold fire on tax cuts at the 15 March budget despite being handed an around £11bn windfall from international energy prices falling to pre-Russia-Ukraine war levels, according to top economists’ predictions gathered by City A.M. Brits will have to wait until the run up to the next general election, [...]
Seven things banks will be looking out for in 2024 December 31, 2023 A challenging year is in the offing for lenders – from regulatory reform to fraud crackdowns