It is the death of sustainability as merciless cost of living mayhem pushes UK firms into survival mode September 1, 2022 With the cost of living crisis predicted to continue for the foreseeable, nearly 8 in ten Brits are now worried about how the ongoing mayhem is going to negatively impact the environment. In fact, a third of all British business owners have dropped sustainability as a priority with just less than one in five still [...]
WPP snaps up Dutch ecommerce firm Newcraft amid buoyant sales September 1, 2022 The world’s biggest advertising group WPP has snapped up Dutch ecommerce consultancy Newcraft, as the powerhouse continues with its expansion push.
Barclays pulls back from Africa with £538m Absa sale September 1, 2022 British lender Barclays announced it had shed its remaining 7.4 per cent stake in South African bank Absa today as it dramatically pulls back its presence in Africa. Bosses at Barclays said this morning the sale would earn Barclays around £538m, representing around a £31m loss on its investment. The sale followed an announcement from [...]
Reckitt chief Laxman Narasimhan steps down September 1, 2022 Consumer goods giant Reckitt Benckiser announced today that chief Laxman Narasimhan will step down from his role at the end of this month as he moves back to the US “for personal and family reasons”.
Zahawi: Nobody should have energy cut off this winter if they can’t pay their bills September 1, 2022 Nadhim Zahawi has said nobody should be cut off in the winter if they’re unable to pay their bills. Speaking on Sky News this morning during his tour to the United States, the chancellor accused Russia’s President Vladimir Putin of using energy “as a weapon”. This comes ahead of the conclusion of the Conservative leadership [...]
City Moves: Who’s switching jobs in the Square Mile? September 1, 2022 City A.M.’s Millie Turner provides a roundup of the most important hires and job moves across the City, every morning. Email citymoves@cityam.com to be featured. QuadReal QuadReal Property Group has appointed a Deutsche Asset Management lead as its vice president of research and strategy. Farhaz Miah is set to oversee research across UK and European markets. Reporting to executive vice president Rosemary [...]
‘Significant barriers’ hampering digital trade, City of London warns September 1, 2022 Post-Brexit trade deals have left “significant barriers” in place that are hampering digital trade to and from the UK, the City of London corporation warned today.
City stands ready to invest in UK if governments gives it ability – and faith – to do so August 31, 2022 What’s the size of 31 Lake Windermeres, home to 165 steel-and-fibreglass behemoths each taller than the Monument, and 70-odd miles from Grimsby? If your answer was the Hornsea 2 wind farm, ten points to you. The world’s largest offshore wind farm became fully operational yesterday, set to power around 1.4m homes – combined with Hornsea [...]
Accounting sector veteran Pauline Wallace named UKEB’s first permanent chair August 31, 2022 Accountancy sector veteran Pauline Wallace has been named as the first permanent chair of the UK Endorsement Board (UKEB). The former PwC partner will start her three-year term as head of the body set up to ensure the UK complies with international accounting standards on 11 September 2022. Following Brexit, the UKEB was set up [...]
World’s largest wind farm launched off Yorkshire coast August 31, 2022 Ørsted has launched the world’s biggest fully-operation wind farm, 89km off the Yorkshire coast. The launch of the 1.3 GW Hornsea 2 project has seen Ørsted break its previous record, which the Danish firm previously set by launching its 1.2 GW Hornsea 1 windfarm in 2019. Ørsted’s UK chief Duncan Clark said the Hornsea 2 [...]