Bank of England
This coverage analyses the Bank of Englandโs decisions and policies and their impact on the UK retail sector, focusing on interest rates, inflation, consumer spending, and economic forecasts. Reporting provides context on how monetary policy shapes retail performance, costs, and demand โ offering insight for executives, managers, and professionals making strategic decisions in a shifting economic environment.
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Nov- 2020 -5 NovemberCoronavirus
Chancellor extends furlough scheme to March
Chancellor Rishi Sunak has announced that the furlough scheme will be extended until the end of March, amid increased measures for business support as the UK enters a four-week lockdown. Payments are set to remain at 80% of employeeโs wages. It comes as the chancellor said that it was โright…
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5 NovemberCoronavirus
Bank of England unveils ยฃ150bn covid support package
The Bank of England (BoE) has unveiled it will give the UK economy a further ยฃ150bn in crisis support and keep interest rates at a record low, due to the rapid rise in Covid-19 restrictions across the country.ย At the Banks latest Monetary Policy Committee (MPC), members stated that the…
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Jun- 2020 -4 JuneClothing & Shoes
New Look enters talks with landlords seeking turnover-based rent
High street retailer New Look has reportedly entered talks with its landlords about switching to a turnover-based rent system. According to Sky News, New Look has appointed the property agents CBRE and CWM to negotiate terms for its 500 store portfolio across the UK. Reports also suggest that if the…
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Apr- 2020 -16 AprilHigh Street
Dunelm CEO takes 90% pay cut as company seeks coronavirus loan
Homeware retailer Dunelm has announced its CEO, Nick Wilkinson, has taken a 90% pay cut as it confirmed it is eligible for a coronavirus loan. Dunelm also announced that the executive management team has also taken a 20% pay reduction with its chairman and non-executive directors waiving 100% of their…
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Mar- 2020 -25 MarchHigh Street
New Look asks landlords for three-month rent holiday
High street fashion retailer New Look has asked its landlords for a three month rent holiday as it looks to reduce costs during the coronavirus outbreak. In a trading update, the retailer revealed a series of measures focused on preserving cash, maximising liquidity, managing working capital. The measures include: Significantly…
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23 MarchClothing & Shoes
N Brown reveals measures to mitigate โsudden reductionโ in demand
N Brown Group has revealed a series of measures it has undertaken to help mitigate the โsignificant and sudden reductionโ in demand it has experienced amid the coronavirus outbreak. In a trading update this morning (23 March), the group said that trading for the first two weeks of the financial…
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19 MarchEconomy
New bank of England boss promises fresh measures to fight Covid-19
The new Bank of England boss, Andrew Bailey, has promised a fresh set of measures to help fight the economic โemergencyโ faced due to the coronavirus outbreak. Bailey, who has only been in the position for three days after taking over from former Bank Of England chief Mark Carney, told…
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11 MarchEconomy
Bank of England cuts interest rates to help combat coronavirus impact
The Bank of England has cut UK interest rates back down to the lowest level in history to help mitigate the impact of the coronavirus outbreak on the economy. The governor of the Bank of England, Mark Carney, announced the 50 basis point (0.5 percentage point) reduction, from 0.75% to…
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3 MarchBusiness Bites
Coronavirus is stepping up a gear โ this could be serious
When I started this column back in December I did not anticipate a single subject would dominate it so much, but as I wrote last week it would be silly not to address the latest coronavirus circumstances given that each new development so far has had a profound impact on…
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Feb- 2020 -28 FebruaryAnalysis
Coronavirus sends ripples through markets, governments, companies and the public
Apologies for the repetition, but the new coronavirus is causing such a serious global reaction today it would be silly to focus on other things, so here are four key stories about what looks to be developing into a full blown international crisis. The FTSE 100 has lost nearly ยฃ200…
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