Exclusive: Pandemic aftershocks will last two years, warns cabinet office advisor and City insider Mark Jankovich June 22, 2021 London serial entrepreneur Mark Jankovich arrived in the City in 1992, joined Coutts & Co and set up Delphis Eco fifteen years later. The South African national – who has been a member of the government’s Cabinet Office SME Advisory Panel for the last five years, serving three prime ministers – managed to turn his [...]
Victorian Plumbing shares surge in biggest ever float on London’s junior market June 22, 2021 Online bathroom retailer Victorian Plumbing has seen shares surge higher as it began life as a listed company in the biggest ever float on London’s junior market. The group launched on to the Alternative Investment Market (Aim) with shares priced at 262p, giving it an initial valuation of around £850m, before the stock quickly jumped [...]
City institution 1 Lombard Street reopens after lockdown June 22, 2021 The Lord Mayor and the City’s Sheriff visited Square Mile institution 1 Lombard Street yesterday as it reopened after lockdown. Monday was due to be the first day without Covid-19 restrictions in the UK, but the so-called ‘freedom day’ was pushed back by four weeks. Read more: There are staycations – and then there’s the [...]
Barnet, Richmond and Ealing see house price spike as pandemic fuels outer London spree June 21, 2021 House prices are heading upwards right across the country – but some London boroughs are doing better than others. New data suggests outer London properties have benefitted from a spike in pandemic-era purchases, as inner London residents look for more space and existing suburban dwellers tire of the same four walls. Properties in Barnet and [...]
Revolut’s profits triple to £123m, as appetite for fintech swells – CityAM : CityAM June 20, 2021 Fintech firm Revolut’s gross profits have swelled threefold in 2020 to £123m, fuelled by people’s appetite for digital financial management growing amid the pandemic. While its customer numbers jumped 45 per cent in the year ending 31 December, the firm’s adjusted revenues surged by 57 per cent to £261m, up from £166m in 2019. Revolut, [...]
John Lewis faces backlash over plan to hike fees for brands June 20, 2021 John Lewis is facing a backlash from brands over how much they are being charged to stock products with the retail giant. Brands already pay John Lewis up to 50 per cent of each sale in commissions and fees, however the company’s chair Dame Sharon White has enlisted Alix Partners to renegotiate this higher. For [...]
Euros tied with summer sun sees booze sales soar across the UK June 18, 2021 Alcohol sales in the UK have skyrocketed during the Euros, as sunny weather spurred fans to splash the cash on booze, according to data from PayPoint. Sales data from PayPoint’s network of 28,000 retailers found that over the weekend the Three Lions played their first fixture against Croatia, alcohol sales climbed 11 per cent in [...]
Exclusive: Home Office reverses decision to end digital right to work checks on Monday June 18, 2021 The Home Office told City A.M. this morning it has decided not to end digital right to work checks this coming Monday, as initially planned. Instead, the checks that are needed to determine someone’s immigration status and right to work in the UK are allowed to be conducted online throughout the summer. “We are extending [...]
London to Glasgow train record attempt falls short by… 21 seconds June 17, 2021 An attempt to break the 37-year-old record for London to Glasgow by train ended with the Pendolino 39004 arriving at Glasgow Central Station 21 seconds over time. The previous record was set at 3 hours 52 minutes and 40 seconds in 1984 by a BR Advanced Passenger Train (APT). Pendoli-nope Officials said the attempt missed [...]
DUP leader Edwin Poots facing potential no confidence vote June 17, 2021 Democratic Unionist Party (DUP) leader Edwin Poots is facing an insurrection from his party that may see him face a vote of no confidence as early as today. Multiple media outlets are reporting that the party’s officers will tell Poots today that they no longer have confidence in him. Poots, who was elected DUP leader [...]