Increase in empty shops as high streets and shopping centres hit by lockdown
The number of empty shops increased across the UK over the past three months after the impact of the coronavirus lockdown, according to new figures.
City
FTSE 100 closes higher as trading optimism continues
The FTSE 100 closed in the green as global stocks enjoyed a bullish run amid on the back of continued optimism in relation to the progress of Covid-19 drugs.
Restaurants closing as Cafe Rouge and Bella Italia owner calls in administrators
Casual Dining Group, the owner of Bella Italia, Cafe Rouge and Las Iguanas, has said it will close 91 of its 250 restaurants.
Revenues halve at Holiday Inn owner after hotel closures
Holiday Inn owner Intercontinental Hotels Group (IHG) said it expects revenue to have more than halved over the past six months after being hammered by coronavirus.
On the Beach swings to loss after £35m coronavirus hit
Package holiday firm On the Beach has revealed it swung to a half-year loss after cancelled trips due to the coronavirus lockdown left it nursing a £35 million hit.
Worldwide economy to take £9.6trn Covid-19 hit, says IMF
Britain’s economy is set to plunge by 10.2% in 2020 and global activity will take a hit of more than 12 trillion US dollars (£9.6 trillion) from the coronavirus pandemic by the end of 2021, the International Monetary Fund (IMF) has warned.
Covid and Brexit – the challenges that face new FCA boss Nikhil Rathi
The new chief regulator of the City will take over at an often criticised organisation with a major new path to chart after Brexit.
London Stock Exchange chief named next Financial Conduct Authority boss
Nikhil Rathi has been appointed the next chief executive of the Financial Conduct Authority (FCA), responsible for regulating the UK’s banks.
London City Airport reopens after three-month closure
London City Airport reopens on Sunday after being closed to commercial flights for nearly three months.
Landlords approve deal to slash Travelodge’s rent
Travelodge bosses have said they will be able to steer through the coronavirus crisis after landlords backed a plan that will knock millions off the company’s rent bill.
Royal family speak out in support of British business
The Duke and Duchess of Cambridge took to the high street in support of local shops as the Queen issued a personal message of praise for UK businesses.
Queen sends personal message of support to UK businesses
The Queen has spoken of her “great pride” in the contribution the British Chambers of Commerce (BCC) and its members are making to “champion trade and rebuild communities”.
John Lewis to reopen nine more department stores next week
John Lewis has confirmed it will reopen a further nine department stores on Thursday June 25, having opened 13 department stores last week.
BP to slash 10,000 jobs due to coronavirus
The boss of UK oil giant BP has told staff it plans to cut 10,000 jobs from its global workforce just weeks after increasing the dividend it pays to shareholders.
Relaxing Sunday trading would be ‘grossly unfair’ to shopworkers, unions claim
Any effort to relax Sunday trading laws have been condemned as “misguided” and “grossly unfair” to key workers by union leaders.
Third of firms getting emergency coronavirus loans have tax haven links – study
Nearly a third of companies in receipt of coronavirus loans from the Bank of England have links to tax havens, new research has suggested.
Retirement home firm McCarthy & Stone to restart sales and construction
Retirement home developer and operator McCarthy & Stone said it will resume construction on its sites and reopen sales offices next week after seeing lower than average coronavirus cases across its residents.
Sainsbury’s new boss promises to listen more to customers
Sainsbury’s new chief executive started his first day in the job on Monday vowing to listen more to customers and improve the experience for shoppers.
Manufacturing recovers slightly but remains at financial crisis lows – survey
Manufacturing in the UK improved slightly from the all-time lows of April but still remains at levels not seen since the global financial crisis, according to new figures.
Global markets slump amid trading caution over US-China tensions
Global markets retreated as traders became increasingly anxious over relations between the US and China.
Households saving money during lockdown, researchers find
Three-quarters of British households have saved money during the lockdown, according to new figures.
Pret announces plans to reopen 200 more shops from June 1
Sandwich and coffee chain Pret A Manger will reopen more than 200 sites for takeaway and delivery from June 1, meaning over 300 shops will be back online after the coronavirus lockdown.
Boohoo co-founder buys rest of son’s fashion business for nearly £270m
Online fashion retailer Boohoo has bought the remaining stake of Pretty Little Thing from its founder and operating chief for £269.8 million.
Four out of five Ryanair passengers still waiting for refunds – survey
Four out of five Ryanair passengers who requested a refund after their flight was cancelled during the coronavirus pandemic are still waiting for a pay-out, a survey has suggested.
Retail ‘deeply depressed’ amid Covid-19 shutdown, survey finds
Retail sales bounced back from April’s record lows but still remained “deeply depressed” over the last 12 months as four in five retailers say they are facing cashflow difficulties.
One in five ‘living on financial precipice with no savings before lockdown’
One in five workers had no cash put aside for emergencies before the coronavirus lockdown started, a survey has found.
Pret to sell coffee via Amazon from next week
Sandwich chain Pret A Manger has launched its first supermarket offering, with three different coffees on sale at Amazon, and is looking at selling more products away from its stores.
Retail sales plummet in April despite record jump in online trading
Online sales doubled last month but failed to offset the “catastrophic” loss of sales caused by the coronavirus lockdown, according to new data.
Rockstar Games co-founder Dan Houser to leave studio
Dan Houser, the co-founder of Rockstar Games, the studio behind Grand Theft Auto and Red Dead Redemption, is to leave the firm next month.
BP holds second-quarter profits firm, but sees half-year results slip
BP has posted a drop in half-year profits, but delivered better-than-expected second-quarter earnings after higher production offset lower oil prices.