London rents drop three per cent as demand falls August 5, 2020 Rents in London have fallen three per cent this year, with a sharper decline expected by the end of 2020, due to a collapse in demand during the coronavirus lockdown. Rents in the capital are expected to shrink by five per cent by the end of the year due to steep declines in the number [...]
Three-quarters of London firms welcome staff back to offices August 4, 2020 London firms are starting to bring their staff back to the workplace after more than four months of remote working due to the pandemic. A survey of 100 business leaders conducted by London First reveals a phased return of staff is underway for three quarters of London firms. The survey, which was carried out last [...]
Working from home costs London hospitality sector £2.3bn, economists say August 3, 2020 The coronavirus pandemic has caused £2.3bn of spending to be lost or displaced in shops, pubs and cafes near London employment hubs, according to new analysis by a think tank. The Centre for Economics and Business Research (Cebr) also estimated that the capital will lose out on roughly £178m a month of spending compared to [...]
London’s legal sector continues to lead the world August 3, 2020 Socially-distanced juries, virtual trials, and a mass shift to remote working — these are just some of the radical steps that have been taken to allow justice to be served during lockdown. Almost every part of our economy has had to adapt to Covid-19 and the legal system is no different. One constant throughout these [...]
Uber launches first commuter boat service on the Thames August 3, 2020 Uber’s first ever UK boat service will set sail on the River Thames today in a new partnership that will see Thames Clippers’ commuter service rebranded by the global ride-hailing giant. Twenty boats will take to the water today as part of the fresh collaboration, with departures from 23 piers across London from Putney to [...]
London temperature hits 35C on hottest day of year July 31, 2020 Temperatures have hit 35 degrees in London today, making it officially the hottest day of the year so far. And according to the Met Office, the mercury is set to rise further as the afternoon continues. In a tweet, the Met Office said: “It’s the hottest day of the year so far… and the temperature [...]
Coronavirus in England: What’s the R number for your area? July 31, 2020 Fears of a second wave are growing after it was revealed the coronavirus R number has climbed above one in some parts of England. The R rate, also known as the reproduction number, measures the average number of people that one infected person can pass the virus on to. If the R rate is one [...]
More than 60 per cent of London firms plan to lay off staff, survey says July 28, 2020 More than 60 per cent of London firms expect to lay off some of their furloughed employees, a survey has said, in a sign of the wave of unemployment that is to come. The Lloyds Bank business barometer found that just under one in five London firms who have used the scheme expect to bring [...]
Sadiq Khan calls on government to extend furlough scheme July 27, 2020 Sadiq Khan has once again called on the government to extend its furlough scheme for struggling sectors ahead of changes this weekend which could lead to a surge in unemployment. From Saturday employers will have to pay national insurance and pension contributions for furloughed employees. However, for many sectors such as hospitality and leisure, the [...]
Why the UK should rethink its restrictive rules on dual-class shares July 27, 2020 The ability to have a dual-class voting structure can be an important consideration for high-growth, innovative companies (especially those in the technology sector) when deciding on an IPO venue. These structures are not possible for a premium listing in London, whereas they are available on other major stock exchanges, meaning that the UK risks missing [...]