US judge blocks Penguin Random House and Simon & Schuster’s £1.9bn merger November 1, 2022 A US judge has blocked Penguin Random House’s planned $2.18bn (£1.89bn) purchase of Simon & Schuster, after finding the move would hurt competition for anticipated best sellers. Judge Florence Pan of the US district court for the District of Columbia said that the combination of Bertelsmann owned Penguin and Paramount Global owned Simon & Schuster would “substantially” [...]
BP joins profits bonanza with £7.1bn earnings despite £2bn overall losses November 1, 2022 BP revealed losses of £1.9bn for the third quarter of trading this year, but massive underlying profits of £7.1bn for the three month window.
Local cabbie prices could spiral following Uber lawsuit over VAT November 1, 2022 Taxi firms could be forced to up their prices by a fifth as Uber calls for cabbies across the country to pay VAT on their journeys. A High Court hearing is expected to be handed down this week after the ride-hailing giant sued Sefton Council about VAT terms operating outside of London. Since the 1970s, [...]
UK should ‘future proof’ economy via cutting-edge green tech, says Kemi Badenoch November 1, 2022 International Trade Secretary Kemi Badenoch thinks the UK must “future-proof” its economy by investing in cutting-edge green technologies In a speech to the green trade and investment expo in Gateshead, Tyne and Wear, later today, Badenoch will say new technologies to combat climate change are creating high-paying skilled jobs while providing a route to future [...]
City Moves: Who’s switching jobs in the Square Mile? November 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. Kroll Risk and financial advisory firm Kroll has bolstered its London-based governance and risk advisory practice with a new president. Giles Derry, who brings more than 17 years of experience in private equity investment to the firm, [...]
Government weighs up proposals to expand windfall taxes November 1, 2022 Windfall taxes on energy firms could be raised and extended as much as three years. as Downing Street scrambles to raise funds.
EY revenues hit record highs as partners prepare to vote on global split November 1, 2022 EY’s UK business today posted record revenues of more than £3.2bn as partners at the Big Four firm prepare to vote on plans for a global split. The UK business’ revenues increased 17.2 per cent as the accountancy firm’s fee incomes were bolstered by a 33 per cent uptick in consulting revenues. A 15 per [...]
Low battery: Britishvolt on life support in blow to UK’s tech ambitions October 31, 2022 Feted battery firm Britishvolt is on life support e after running its cash pile dry, amid growing concerns for the UK's green ambitions.
Ofgem orders Delta to cough up £530,000 as energy crisis deepens October 31, 2022 Challenger suppliers continue to feel the heat from the energy crisis, with Ofgem ordering Delta to cough up a six figure sum.
London-based FX experts Lumon post annual growth of almost 30 per cent despite volatility October 31, 2022 A year after its rebrand, London-based payments group Lumon posted annual growth of almost 30 per cent, with its corporate division excelling. The company announced its revenue forecast for the year has gone up by 27 per cent from 2021. Its corporate division expanded over the year, up 48 per cent year on year. It [...]