South Western Railway won’t restore pre-pandemic rail service in ‘attack’ on business October 21, 2021 South Western Railway (SWR) will not restore its London rail services to pre-pandemic levels next year in a move that has been labelled as “an attack” on central London’s economic recovery. Figures, compiled by the Liberal Democrats, show SWR will cut their services across South West London from December 2022, compared to pre-pandemic levels, by [...]
Square Mile braces for Plan B as businesses say work from home guidance will ‘destroy’ trade December 8, 2021 Businesses in the City of London have said they are preparing for the worst ahead of a reported announcement on a work-from-home message. Multiple media outlets have reported that the Prime Minister is to usher in vaccine passports for large venues and instruct office employees to work from home once more. There will be a press [...]
Revolut is taking on Robinhood with the launch of commission-free retail trading in US September 21, 2021 Revolut, the UK’s most valuable fintech, is targeting the booming retail trading market with the launch of commission-free stock trading for US customers. The $33bn fintech’s “Revolut Securities” arm has today been approved as a licensed broker-dealer in the the US, which will enable it to launch commission-free stock trading to its stateside customers in [...]
Pandemic wipes almost £1bn off Covent Garden landlord Capco’s portfolio March 9, 2021 West End landlord Capital & Counties suffered a sharp drop in its property values last year, wiping almost £1bn of its portfolio. Capco, which owns Covent Garden, reported this morning that its total property value last year was £1.9bn, down from £2.8bn in 2019. The total property value of Covent Garden fell 27 per cent [...]
No Britcoin crypto: House of Lords says no to digital pound but Bank of England undeterred despite run on cash warning January 13, 2022 A bank run during economic downturns is a realistic scenario if an official British digital currency were to be created, a committee of peers has warned. The Lords Economic Affairs Committee said that the introduction of a central bank digital currency (CBDC) could pose “significant risks” in the UK. Bank of England officials are currently [...]
Time Out ditches plans for London Waterloo market due to pandemic March 23, 2021 Time Out today said it has abandoned its plans to build a food market at London Waterloo due to the impact of the Covid-19 pandemic. The media and hospitality group had been planning to open a new market under the former Eurostar platforms at the central London train station. The project was originally scheduled to [...]
Wall Street slips as banking stocks and stronger pound weigh on FTSE 100 May 17, 2021 Wall Street opened lower this afternoon, reversing a strong recovery late last week as investors turned their attention back to inflation worries. The Dow Jones slipped 0.02 per cent and the S&P 500 opened lower by 0.09 per cent, while the tech-heavy Nasdaq dropped 0.46 per cent at the opening bell. It came after London’s [...]
London dominates hiring hotspots in the UK July 23, 2021 Six of the UK’s top ten hiring hotspots are in London showing that the capital’s jobs market is roaring back to life, according to new research published today. Figures from the Recruitment and Employment Confederation shows Brent has the fastest rate of job posting growth in the UK, rising 3.7 per cent to 4,616 over [...]
The return of the West End: rebuilding a delicate ecosystem of workers and culture August 1, 2021 While London’s West End may be known for its flagship stores, Michelin star restaurants, world-class hotels and unrivalled theatres, it is also home to a thriving office sector. One in ten Londoners are employed in the West End across various industries, from retail and leisure through to finance and real estate. This ecosystem of industries [...]
Sadiq Khan vs Boris Johnson: it’s time to reset the relationship between the Mayor and No10 September 2, 2021 Being Mayor of London is a powerful political role. Elected to office with the second biggest direct mandate in Europe after the President of France, your name is on the ballot of every single voter in the city, and you are a one-person executive. As a voice for London, with huge convening power, mayors can [...]