Hurricane Irma slams into Florida as losses could soar to $200bn September 11, 2017 More than 6m people have been ordered to evacuate and over 2.4m homes and businesses were left without power as Hurricane Irma battered Florida’s west coast yesterday. The storm lashed the so-called sunshine state with sustained winds of 130mph, leaving at least three people dead. The hurricane struck Miami with huge force, causing widespread flooding [...]
MPs to review baby nuclear reactor plans as cheaper source of secure energy September 10, 2017 A consortium developing small modular reactors is expected to urge the government to push forward with a plan to develop so-called baby reactors to secure the UK’s energy needs after the decommissioning of older nuclear power stations. The government launched a competition to find the best value SMR reactor design for the UK in 2016, [...]
Taxify boss criticises Transport for London after botched launch of ride-hailing Uber alternative September 9, 2017 The chief executive of ride-hailing app Taxify has criticised “hostile” London transport authorities who forced his firm to stop operating less than a week after it launched in the capital. Markus Villig, Taxify founder and chief executive, said he had been “surprised” by the “most hostile regulatory body we have ever encountered”, accusing Transport for [...]
City A.M.’s Lawson Muncaster abseils down Leadenhall Building for the Lord Mayor’s Appeal September 8, 2017 City A.M. co-founder Lawson Muncaster abseiled down London’s Leadenhall Building – more affectionately known as the Cheesegrater – this morning, in aid of The Lord Mayor’s Appeal. For the third year in a row, Muncaster plunged over the edge of a tall City of London building to raise money for The Lord Mayor’s Appeal, alongside [...]
Prime Minister Theresa May on Geoffrey Boycott, Margaret Thatcher, Donald Trump and the fact she is “not a robot” September 8, 2017 Prime Minister Theresa May today insisted she is “not a robot”, following criticism over her wooden performances during the General Election campaign earlier this year. Speaking on BBC’s Test Match Special, May revealed how cricketing legend Geoffrey Boycott holds a special place in her heart, discussed a meeting with Margaret Thatcher and explained the real [...]
Direct Line rings in the changes by poaching Prudential risk chief as new finance head September 8, 2017 Insurer Direct Line has nabbed a top executive from Prudential to be its new finance chief. Penny James will succeed John Reizenstein as Direct Line’s chief financial officer, formally starting the job in March next year. James is currently the Pru’s chief risk officer, having previously worked in a number of positions in the insurance [...]
Editor’s Notes: End of the road as Bell Pottinger shuts up shop, Jeremy Corbyn’s Venezuela shame and Old McDonnell had a strike September 8, 2017 For staff at Bell Pottinger the weekend probably can’t come soon enough. The disgraced PR firm’s fall from grace and into likely administration has been breathtakingly fast. For the 200 UK employees, the vast majority of whom had nothing to do with the scandal that sank the company, an uncertain few weeks await them. Some [...]
Westminster pressure on City watchdog over Saudi Aramco: Nicky Morgan and Rachel Reeves quiz FCA on new listing rules September 8, 2017 Two political heavyweights have cranked up the pressure on the City watchdog over its plans to shake up listing rules which could pave the way for a Saudi Aramco mega-float. The chairs of the influential Treasury and Business, Energy and Industrial Strategy select committees, Nicky Morgan and Rachel Reeves, have written to Financial Conduct Authority [...]
Crash ahead? Crispin Odey’s hedge fund Odey Asset Management is increasing it short stake in used car business Auto Trader September 7, 2017 Crispin Odey’s eponymous hedge fund Odey Asset Management has been upping its short stake in Auto Trader over recent weeks. On Tuesday, the fund increased its short position in the used car business to 1.3 per cent from 1.26 per cent, implying that Odey may just be banking on a crash ahead for Auto Trader’s [...]
Rupert Murdoch’s News Corp invests in student tabloid news startup The Tab September 7, 2017 Rupert Murdoch’s News Corp has led a $6m (£4.6m) investment round in online student news startup The Tab. Founded as a tabloid news alternative for the students of Cambridge University in 2009, The Tab has now spread to 80 institutions across the UK and US. Now with offices in London and New York, Tab Media [...]