UK consumers have been forced to change their usual shopping habits as a result of the recession. Luxuries have had to be cut back on, budgets now have to be stuck to rigidly and, perhaps most significantly, the “big weekly shop” has become something of a thing of the past. This point, especially, has been reflected in the latest... Read More
BRC calls for end to spat with high street The bosses of a number of the UK’s biggest e-retailers have joined forces to oppose proposals to introduce an online sales tax. In a letter to the chancellor they describe the suggestion as ‘nonsense’ and claim that it will choke innovation, jobs and growth. The online tax has been... Read More
Sports Direct has become something of an unstoppable force in the UK, with majority shareholder Mike Ashley steadily building an empire on the bones of collapsed rival chains such as JJB Sports. It is hardly surprising, then, that the past year has proven to be its most successful to date – something which has certainly paid off for the... Read More
The London Olympics appear to have had positive impact on the British economy, with sports chains such as Halfords and Sports Direct reporting massive boosts to profit in the last financial year as a result of the Games. Yet it appears that more than just the retail industry has benefited from the Summer of Sport, with new research released... Read More
The surge of new developments in London shows no sign of subsiding after Mayor Boris Johnson gave his approval to yet another scheme on the South Bank. The latest development to get the green light is between Waterloo Bridge and the London Eye and will see eight new buildings surrounding the existing Shell Centre. The scheme will... Read More
While no retailers can be said to have coasted through the recession unscathed, Mothercare suffered particularly at the hands of the economic downturn. Online competition from e-tailers such as Amazon and the ever-expanding market for baby clothing from celebrity lines took a heavy toll on the retailer at a time when consumers aimed to cut... Read More
Office take-up in Leeds has soared this year with the city recording record results, according to The Leeds Office Agents' Forum (LOAF). During the second quarter of this year, 23 offices were filled in the city, taking up 203,145 sq ft of office space. This is a 260 per cent increase on the previous year – an amazing result. In... Read More
Wells Fargo, the fourth-largest bank in the United States and its largest mortgage provider, has achieved Q2 earnings of $5.52 billion, representing an increase of 20 percent over the previous quarter. The bank has now decided to use some of this profit to purchase the operational business of Hypothekenbank Frankfurt in the UK after... Read More
During the course of the past months, there have been a number of indicators that the economic situation is slowly improving. Business confidence has once more reached highs not seen since before the recession, consumer confidence is rising and the commercial property market has seen increased activity. Now further good news for... Read More
Small and medium-sized companies in the UK’s most vulnerable towns and cities face a particular threat from public spending cuts and the continual impact of the recession, a study has warned. Hull is one of the cities identified as being most vulnerable The findings from think-tank Centre for Cities are important because the... Read More
Qatar based television broadcaster Al Jazeera is poised to become the first commercial tenant of the Shard. The news came just days after the announcement that Rupert Murdoch's News Corp, will take up the whole of the Shard's sister building, The Place. The deal, which is the biggest one completed in London in the past eight years,... Read More
The retail industry has experienced a significant boost during the current heatwave, with DIY stores, garden centres and supermarkets particularly enjoying their moment in the sun. However, the hot weather has not yielded hugely positive results for all retailers, with chocolatier Thorntons in particular having to put measures in place to... Read More
250,000 summonses for business rates arrears have been issued by magistrates’ courts in England over the past twelve months, the Grimsey Review has discovered. This equates to roughly one in seven commercial properties, highlighting the burden of the tax on business occupiers and landlords. The information comes from freedom of... Read More
With international businesses now playing a key role in the British economy it has thrown into sharp relief the need for higher levels of airport capacity – with London being one area affected by this issue in particular. Several plans have been put forward in a bid to resolve this problem, with the construction of a new hub airport... Read More
Investors will spend three times as much on commercial property in Ireland in 2013, according to research released by property consultant Savills. Total sales for the year are likely to break the 1.5 billion euros mark, as opposed to 576 million 2012. This figure represents the highest amount since it hit 1.8 billion euros in 2007... Read More
UK unemployment fell by a further 57,000 in the three months to May. According to the Office for National Statistics (ONS), this means that there are currently 2.51 million workers without a job, with the unemployment rate remaining stable at 7.8 per cent. Furthermore, this has had a positive effect upon the number of people claiming... Read More
With London continuing to lead the way in terms of property development, a number of exciting projects are either under construction or in the pipeline. Many combine both residential and commercial space in order to allow residents and commuters to make the most of the city, with retail and leisure complexes blending seamlessly into... Read More
The controversy surrounding the status of the Duchy of Cornwall shows no sign of subsiding amid calls for Prince Charles’ tax arrangements to be placed under greater scrutiny. This week the heir to the throne’s most senior aide appeared before the House of Commons Public Accounts Committee (PAC) where he faced stinging allegations... Read More
The Enterprise Zone scheme was designed to boost Britain’s economy and create stability for the future, giving SMEs and start-ups the opportunity to acquire quality premises at an affordable cost. Mark Prisk MP By cutting business rates and providing financial assistance in these zones, the government has assisted in ensuring a... Read More
Conservation group SAVE Britain’s Heritage has vowed to continue its fight to prevent the redevelopment of Smithfield Market despite London planners voting 19-2 in favour of the scheme. SAVE has consistently opposed the proposals which will see the interior of the nineteenth-century market hall gutted to make way for a 235,000 sq ft... Read More
Do you feel like you are melting in your office or workplace? Is your makeshift fan of cardboard not helping the situation? Well then, it may be time to go home. A group of Labour MPs have expressed the view that if temperatures in the workplace reach above 30C, employees should be sent home. But there is no law which employers must... Read More
While the economy is showing positive signs of recovery, there is still a long way to go. Inflation remains at a worrying level, and this in turn is having a negative effect on consumers – especially those still struggling with pay freezes or very low real-wage rises. In fact, chief executive of Morrisons, Dalton Philips, has claimed... Read More
