House price growth hits six-year high as pandemic fails to quell demand December 30, 2020 House prices grew at the fastest rate in six years in 2020, a respected tracker has revealed. Property prices skyrocketed by 7.3 per cent across the year, according to the Nationwide House Price Index. Home prices increased by 0.8 per cent in December alone. Read more: A booming Britain will need a broadband boost The [...]
Bank of England bosses reassess 2021 GDP and jobs numbers as UK economy faces ‘darkest hour’ January 12, 2021 Bank of England boss Andrew Bailey and his deputy Ben Broadbent have today both signalled the effects of the UK’s third Covid-19 lockdown. In separate speeches, Bailey and Broadbent spoke on the impact of the current nationwide lockdown, the furlough extension and consumer behaviour. The UK economy was facing its “darkest hour”, but Bailey also [...]
England’s 28 day lockdown will actually only last 27 days as restrictions lift next Wednesday November 24, 2020 England’s national lockdown will last one day shorter than expected, with restrictions set to lift at 0.01am next Wednesday. Announcing the nationwide measures last month, Prime Minister Boris Johnson said the restrictions would last 28 days starting 4 November, as the government scrambled to curb a spike in infections across the country. However, the restrictions [...]
Two rail lines closed in 1960s to receive £800m investment boost January 23, 2021 Two railway lines closed to passengers more than 50 years ago will be brought back to life with almost £800m of funding from the government. East West Rail, which will eventually connect Oxford and Cambridge, has been granted £760m to reopen for the first time since 1968. Ministers have also pledged £34m to accelerate plans [...]
Amid a slow rollout, 24m vaccines sit in freezers in Japan May 7, 2021 Unused Covid-19 vaccines are stacking up in the millions in Japan, as the country prepares to approve two more shots in the coming weeks amid a sluggish inoculation drive. Due to lack of manpower and logistical bottlenecks, Japan’s vaccine rollout has been slow, in a nation culturally sceptical of vaccines and layered with bureaucracy. Japan [...]
On the Beach online sales plummet 85 per cent due to lockdown restrictions February 5, 2021 Online holiday retailer On the Beach remained debt-free despite online sales plummeting 85 per cent in the first quarter due to two lockdowns. Lockdown measures enforced in November and early January drove “very weak” UK travel traffic and bookings, the Group said, with rates down 73 per cent and 83 per cent, respectively. Chief Executive [...]
City A.M. TV: Daily Market Snapshot (video) March 29, 2021 It’s been a fascinating two weeks, initially building up to the Fed meeting (with the statement and updated ‘dot plots’ released on 17 March), and then dealing with the aftermath last week. As is typical of forward looking markets, they rallied into the dovish Fed announcement, peaking just after the Q&A in the press conference. Since [...]
Paperchase on the brink of collapse as Covid-19 lockdowns hit sales January 5, 2021 Paperchase is on the brink of becoming the first major retail collapse of 2021 after the stationary chain was forced to close stores over Christmas. The retailer has filed a notice of intention to appoint administrators, with PwC lined up to handle proceedings, following the announcement of a third nationwide lockdown. The card retailer, which [...]
Shakespeare: Primark at the heart of the reopening fun April 28, 2021 The easing of lockdown restrictions on April 12 allowed non-essential retail stores to reopen nationwide – and data from YouGov BrandIndex UK suggests that Primark has been a particular beneficiary. The budget fashion chain recently returned £121m to the Treasury, following record sales in the week after the lockdown restrictions were relaxed. In the days [...]
Asda to offer in-store Covid-19 vaccinations January 13, 2021 Asda will become the first UK supermarket to offer in-store Covid-19 vaccinations after striking a deal with public health officials. The vaccination centre at the grocer’s Birmingham store will operate 8am to 8pm, seven days a week, and will have the capacity to administer 250 jabs per day. The site is the first Asda pharmacy [...]