Mark Kleinman dissects the CBI’s rescue plan – plus the boss of Vashi’s vanishing act and Man U’s other battle June 1, 2023 In five days time, Rain Newton-Smith must deliver the performance of her career. At an extraordinary general meeting of the CBI, she will seek to convince thousands of its members that it should survive the maelstrom which has brought it to the brink of collapse. The cards appear stacked against her. Already, the CBI’s principal [...]
Purplebricks bidder Lecram pulls out, claiming finances ‘worse than expected’ May 31, 2023 An 11th-hour rival bidder for Purplebricks has withdrawn its takeover approach, claiming the troubled estate agency’s financial condition is “significantly worse than expected”. It emerged last Friday that investor Lecram – the vehicle of property investor Adam Smith and a major shareholder in Purplebricks – was looking to muscle in with a proposal valuing the [...]
Falling value of commercial real estate likely to hit European banks, RBC warns May 31, 2023 The European banking sector could be at risk from the weakening outlook for commercial real estate, analysts have warned. In a note, Anke Reingen, analyst at Royal Bank of Canada, argued that European banks are “likely to take some hits from the worsening [CRE] sector outlook”. CRE has faced widespread problems in recent months as [...]
Rail strike pain is National Express’ gain: Bumper coach bookings as Brits find ways to reach Wembley, Epsom and Beyonce May 31, 2023 National Express has seen a 30 per cent jump in travel bookings over the week of rail strikes, figures shared with City A.M. show, as passengers flocked from rail to coach to get around the country. The long distance bus and coach group, who operate around 1,500 journeys per day in the UK, warned “we [...]
Putin ally Medvedev says UK officials are ‘legitimate targets’ due to Ukraine support May 31, 2023 British public officials are a “legitimate military target” because of the UK’s support for Ukraine, former Russian president Dmitry Medvedev has warned. Mr Medvedev, deputy chairman of Vladimir Putin’s security council, claimed the UK’s support for Kyiv amounted to an “undeclared war” against Russia. His comments came after Foreign Secretary James Cleverly said Ukraine had [...]
Yu Group shares soar after energy supplier confirms bumper bookings May 31, 2023 Yu Group shares are up 26 per cent on the London Stock Exchange in today's trading, after confirming bumper bookings this year.
Slowing UK economy appears good news for discount retailer B&M May 31, 2023 Brits seeking out bargains has helped drive B&M customer numbers up every month since June, as the group plans to roll out 30 more stores across the UK to up keep demand. For the year, the budget chain, which sells homewares and food, gained revenues of £4.9bn up from £4.6bn, as the group improved its [...]
The taste of freedom May 31, 2023 | Sponsored Describing the most popular dish on her menu, Caroline Gardner leaves little to the imagination. That would be “our papadias which are like quesadillas but with crispy mashed potato and grilled onions. And then fried, but crispy on the outside and fluffy on the inside. And covered in salsa.” Caroline, with help from her mother [...]
Tier to launch new AI tech to boot out unsafe riders and reduce costs May 31, 2023 E-scooter mobility giant Tier has announced it will launch a first of its kind AI technology in the UK, which aims to improve the safety and sustainability of its e-scooters and reduce costs. The system, described as a ‘Parrot’ e-scooter brain, is capable of recognising “anti-social riding behaviours” without requiring the use of complex and [...]
North Sea oil and gas projects essential to UK’s energy future, warn academics May 31, 2023 Halting future investment in North Sea oil and gas projects jeopardises the UK's supply security and net zero ambitions.