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 [...]
The idea that it is somehow grubby to care about the economy in the face of a global pandemic is nonsense July 8, 2020 Today, chancellor Rishi Sunak will make an announcement to the House of Commons about the shape of the government’s coronavirus support over the coming months. Sunak faces a tough choice as the country starts to open up while trying to keep infection rates as low as possible. There is no easy way out of the [...]
Coronavirus: UK retailers launch action plan to win back Chinese visitors March 5, 2020 Retailers have this morning launched a battle plan to tackle the impact of coronavirus on the sector, as a sharp drop in Chinese visitors has hurt UK high streets. The international retail sector has set up a new Association of International Retail, which has unveiled a recovery plan for the industry which will be put [...]
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 [...]
Coronavirus outbreak: Sportswear giants Puma and Adidas warn on trading impact February 19, 2020 German sportswear giants Puma and Adidas have warned that the outbreak of coronavirus in China has hurt trading due to the temporary closure of stores and a drop in footfall. Puma said the outbreak will impact sales and profits in the first quarter of the year, after it was forced to shutter more than half [...]
Japan’s economy shrinks at fastest rate in five years February 17, 2020 Japan and Singapore teetered on the brink of recession today after a poor end to 2019 was compounded by the coronavirus threat to the countries’ tourism industries and supply chains. Japan’s economy shrank at its fastest rate in five years at the end of 2019, it was revealed today. GDP fell 6.3 per cent in [...]
Government to review short term holiday lets like Airbnb in tourist hotspots June 29, 2022 The UK government said on Wednesday it was launching a review into short term rentals in popular tourism areas in England, including Airbnbs. Ministers said they wanted to support rental platforms like Airbnb but acknowledged concerns that such businesses could drive communities out of their area – for example if landlords opt to run their [...]
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 [...]
Sunak’s spending spree ‘catastrophe’ for UK’s night time industry July 9, 2020 Casinos, comedy clubs and nightclubs have accused the chancellor of letting Britain’s night industry “slip through the cracks”, as a new wave of financial support for the hospitality industry failed to provide specific support for shuttered night time venues. Chancellor Rishi Sunak unveiled a raft of measures in his £30bn mini-Budget yesterday, in a bid [...]
StanChart lowers growth target over coronavirus and economic slowdown February 27, 2020 Standard Chartered has reported a 46 per cent jump in annual profit, but warned that operating income growth would be lower than expected this year due to the impact of the coronavirus epidemic in key Asian markets. The figures StanChart’s statutory pre-tax profit jumped 46 per cent to $3.7bn (£2.9bn) in 2019, up from $2.6bn [...]