Second national lockdown to drive Black Friday sales down 20 per cent November 23, 2020 The introduction of a second national lockdown will push Black Friday sales down 20 per cent as consumers wait for shops to reopen to bag a bargain. Nationwide Building Society predicted a drop off in spending on 27 November, compared to a previous forecast of a 12 per cent increase, due to the month-long lockdown. [...]
Rishi Sunak: Workers will quit if they can’t return to offices, chancellor warns March 26, 2021 Employers may face an exodus of staff if they implement a permanent remote-working strategy after lockdown, the chancellor warned. Rishi Sunak said workers should be allowed to return to offices or they may “vote with their feet” and leave the firm for an employer that encourages face-to-face working. He said offices allow meetings to “happen [...]
Eight in ten London businesses plan to hire more staff next year with turnover to increase December 6, 2021 Entrepreneurs in the UK predict strong business growth of 37 per cent for next year, as new research highlights support that could help unlock further growth for early stage businesses. Fifty-eight per cent anticipate an increase in turnover in the next year, with the South West (72 per cent) the most optimistic region, followed by [...]
Pound retreats after hitting three-year high amid variant concerns June 1, 2021 The pound retreated this morning after reaching a fresh three-year high versus the dollar amid economic recovery hopes. Well into the London session after the bank holiday weekend, sterling reversed its course to fall 0.2 per cent to $1.4183. The pound edged lower as concerns over a new coronavirus strain outweighed increasing investor optimism on [...]
City exclusive: Cordiant Capital’s co-CEO on how to make money in the crowded world of digital infrastructure May 19, 2022 Amid an increased focus on digital infrastructure, data transfers and online storage in practically every market around the world, investment giant Cordiant Capital listed its Cordian Digital Infrastructure arm in London last year. Time for City A.M. to catch up with Benn Mikula, co-CEO and managing partner at Cordiant Capital, to see how things are [...]
Opinion: Rowing can be a force for good but needs support from business October 12, 2021 We don’t hear enough about rowing so it can take a certain commitment and courage for someone to get into a boat for the first time and push against the stream. Yet there is an increasing number of people across Britain who live by the sport – whether recreationally or competitively, indoors on rowing machines [...]
Patriot Pact: Ministers urged not to say ‘It’s Coming Home’ ahead of England final July 9, 2021 Ministers have reportedly been urged not to say ‘It’s Coming Home’ ahead of England’s Euro 2020 final on Sunday night amid fears of offending other countries. In a briefing note sent by the Department for Digital, Culture, Media and Sport (DCMS) mandarins warned the phrase “does not go down well overseas” and might damage a [...]
HSBC and Barclays call for open banking reform over higher costs May 24, 2021 UK banks are reportedly unhappy with the high costs associated with open banking reforms which force them to share data with rivals in a bid to increase competition. Open banking is the UK’s implementation of the EU’s revised directive on payment services, which was introduced in 2015. UK regulated banks are required to let customers [...]
First Royal Mail drones take off for remote Orkney Islands to deliver letters and parcels October 6, 2021 Royal Mail has started a two-week trial of scheduled, autonomous flights between Kirkwall and North Ronaldsay in the Orkney Islands with Windracers to help better connect remote island communities. The mail giant is using drones to deliver the post. The mail is being carried by a large, twin-engine, UK-built unmanned aerial vehicle (UAV) named Ultra [...]
Failure to cut energy demand risks ‘reckless’ waste of taxpayer money September 22, 2022 Capping energy prices without boosting insulation would risk a “reckless” use of taxpayers’ money, warned the Social Market Foundation.