Smart politicians will be looking to cities as a springboard for greatness January 12, 2021 For much of the second half of the 20th century, powerful city politics was dying. As the great industrial centres went into decline, so too did their once-proud corporations and mayors. County boroughs like Liverpool, Manchester, Birmingham and Leeds were gathered together in 1972 and melded into metropolitan counties like “Merseyside” or “West Midlands”, and [...]
Primark owner profit slumps as pandemic batters sale November 3, 2020 Primark owner Associated British Foods (ABF) has posted a sharp decline in profit for the full year as store closures during the coronavirus lockdown decimated sales. The figures ABF posted revenue of £13.9bn in the year to 12 September, down 12 per cent on 2019. Statutory pre-tax profit slumped 42 per cent to £686m. Basic [...]
Lockdown extension in December would be ‘disastrous’ for retail sector, experts warn November 2, 2020 An extension of lockdown restrictions into December would be “disastrous” for the struggling retail sector, which will have already missed out on sales at the beginning of the crucial Christmas trading period. In a note to clients this morning, broker Peel Hunt said listed retailers had balance sheets strong enough to handle the November lockdown, [...]
Number of jobs available in London plummets due to coronavirus July 15, 2020 The number of jobs available in London during the second quarter plummeted as the coronavirus crisis took hold. In April, there was a 72 per cent drop in the number of job vacancies with just a one per cent decrease in job seekers across the period, according to Morgan McKinley research. By the end of [...]
John Lewis risks looking old hat as Iceland nails ad virality November 13, 2018 John Lewis’s Christmas adverts always provoke a huge reaction – generating the sort of headlines and cut-through that are the envy of marketers and company bosses everywhere. However, as we await this year’s effort, it is worth looking back to last year’s ‘Moz the Monster’ campaign. YouGov BrandIndex data from Christmas 2017 showed that while [...]
Businesses voluntarily return £215m in furlough cash September 21, 2020 UK firms have voluntarily returned more than £215m of furlough money to the government either because they did not need it or they took it in error. HM Revenue & Customs (HMRC) figures released today showed that 80,433 employers have so far returned furlough cash totalling more than £215m handed to them to cover staff [...]
BNPL firms welcome UK government plans to regulate the sector June 20, 2022 Buy-now pay-later (BNPL) firms today welcomed the UK government’s long-awaited plans to regulate the sector amid concerns that more people are turning to such services as the cost of living rises. Under plans announced today, the government said that BNPL firms – which provide shoppers with short-term interest-free credit to delay paying for goods – [...]
Debenhams axes 2,500 jobs in bid to cut costs after coronavirus lockdown August 11, 2020 Debenhams has axed 2,500 jobs as it seeks to reduce costs following the coronavirus lockdown, in the latest blow for the struggling UK high street. The department store chain, which permanently closed 20 stores during lockdown, said the trading environment is “clearly a long way from returning to normal” after lockdown restrictions were lifted. The [...]
UK shoppers start to return to the high street after lockdown July 10, 2020 Shoppers returned to the UK high street last month as lockdown restrictions were eased, however visitor numbers were well below pre-coronavirus levels, according to the latest data. Footfall analysis by the British Retail Consortium and Shoppertrak showed that footfall in June was down 63 per cent compared to the previous year, although this was 19 [...]
Performing arts allowed to restart in England from Saturday July 9, 2020 England’s performing arts sector will be allowed to reopen from Saturday as the government announced a further easing of coronavirus social distancing restrictions. Artists, musicians, actors and dancers will be able to go back to work from this weekend by putting on shows with socially distanced outdoor crowds, according to culture secretary Oliver Dowden. Dowden [...]