Venture capital firms circle London tech scale-ups as financial injections hit record £20bn – CityAM : CityAM October 21, 2021 A record high of over £6.5bn was invested by venture capital firms in UK scaleups over the summer, taking the total amount to £20bn so far this year, according to new research shared with City A.M. this morning. After two extraordinarily high quarters in 2021, UK scaleups continued to attract funding from across the globe [...]
UK signs deals for two new Covid-19 antiviral treatments October 20, 2021 The UK has signed deals to secure two potential antiviral Covid-19 treatments, which could see thousands of patients treated with the drugs by winter. Health secretary Sajid Javid today announced the two drugs, if approved by the UK’s medicines regulator, will be given to those most at risk of dying from Covid-19 to help “reduce [...]
Morocco bans UK flights as Covid cases soar – CityAM : CityAM October 20, 2021 Morocco suspended today all flights from the UK, Germany and the Netherlands due to the soaring number of Covid-19 cases in the countries. “Upon decisions of national authorities and following the pandemic situation, flights from/to Germany, Netherlands and the UK are suspended from today, Wednesday 20th Oct at 23:59,” tweeted Morocco’s national carrier Royal Air [...]
Easyjet goes into the lounge business at Gatwick’s north terminal – CityAM : CityAM October 20, 2021 Easyjet announced today its first lounge will open tomorrow at Gatwick airport’s north terminal. Called the Gateway, the space was developed in collaboration with lounge company No1 Lounges. With prices starting at £18.50, the space will allow all travellers – regardless of airline ticket – to eat, drink and work before their flight for one, [...]
Vitamin Vacay: Booking reveals travel predictions for 2022 – CityAM : CityAM October 20, 2021 Going away on holiday in 2022 will be people’s preferred form of self care, says travel website Booking.com. In a research conducted across 31 countries and published today, Booking.com has revealed its 2022 predictions, highlighting how after 18 months of pandemic, travel optimism is getting back as people adjust to the “new normal”. Almost 74 [...]
Bitcoin within touching distance of all-time high following successful ETF launch – CityAM : CityAM October 20, 2021 Bitcoin is currently hovering just below record levels, the day after ProShares rung the bell on the first ever Bitcoin futures exchange-traded fund in the US, which has now officially launched on the New York Stock Exchange. The leading cryptocurrency is currently up three per cent over the past 24 hours, changing hands for just [...]
End of furlough to induce a job market ‘recalibration’ as Brexit requires reset October 20, 2021 The end of furlough is set to induce a “significant recalibration of the jobs market” according to a restructuring expert. Chris Newell, managing director at business advisory firm Quantuma predicts that, as the Coronavirus Job Retention Scheme has ended, businesses across the country face the prospect of “tough decisions” around redundancies in the coming weeks. [...]
Metro Bank on track with sustainable growth in quarter results October 20, 2021 Even though total deposits were down one per cent compared to the second quarter, in this year’s third quarter Metro Bank has managed to maintain a high-quality deposit mix, remaining on track with its sustainable growth plan. Reflecting a growth in consumer unsecured lending and specialist mortgages, the bank’s net loans stationed at £12.3bn, while [...]
Number of remote working vacancies drops 24 per cent after peaking at 130,000 October 20, 2021 After climbing to an all-time high of 130,000 in June, the number of remote working vacancies advertised has fallen to 99,000 in August, according to new data shared with City A.M. today. This is a significant drop of 24 per cent following months of climbing and suggests that businesses are returning to pre-pandemic ways of [...]
Deliveroo keeps going strong in quarter results – CityAM : CityAM October 20, 2021 Deliveroo has registered a 58 per cent increase in gross transaction value in the third quarter of 2021, while the growth in active consumers and orders has continued to improve, going up 56 and 64 per cent respectively. “We have continued to make good progress executing against our strategy, resulting in strong performance in the [...]