Sainsbury’s outperforms big four rivals September 17, 2019 Sainsbury’s was the best performing of the big four supermarkets, according to industry data for the latest 12 week period, as the UK grocery market returned to growth. The supermarket saw sales dip 0.1 per cent in the 12 weeks to 8 September. Read more: Aldi targets London expansion as profit falls Rival grocers Tesco. [...]
Justice secretary Robert Buckland evades questions over prorogue plans September 17, 2019 Justice secretary Robert Buckland has refused to say whether parliament would be recalled if the Prime Minister loses at the Supreme Court this week. Two separate legal cases challenging the legality of Boris Johnson’s move to prorogue parliament for five weeks are being heard in Westminster. Former Prime Minister Sir John Major is among those [...]
Wework delays IPO plans amid investor caution September 17, 2019 Wework has pushed back plans for its highly-anticipated initial public offering (IPO) amid cooling investor appetite. Following a number of setbacks over its ambitions to go public, the fast-rising parent owner of real estate group Wework is expected to postpone its listing until the end of the year. Read more: Wework considers cutting founder’s voting [...]
Aquis Exchange posts rise in revenues and market share September 17, 2019 Pan-European share trading platform Aquis Exchange grew both its revenue and its market share over the last year as it pressed ahead with plans to disrupt the initial public offering (IPO) market. Revenues jumped 165 per cent to £3.4m in the 12 months to the end of June 2019. Read more: Number of private equity [...]
Value of government’s £22bn Help to Buy scheme ‘uncertain’ September 17, 2019 MPs have raised alarm bells over the government’s costly Help to Buy scheme, noting that more than half of those it helped did not need financial support, while warning it does not address structural problems in the housing market. The scheme, which will cost an estimated £22bn – more than eight-times its original budget, has [...]
London tightens grip on FX market in three years since Brexit vote September 16, 2019 London has increased its dominance of global foreign exchange (FX) trading in the three years since Brexit, new figures have shown, in a sign that the City remains a top-two financial centre. Read more: Hong Kong vows to chase London Stock Exchange after £32bn bid rejected Between 2016 and April of this year, the share [...]
Gatland and Schmidt, two of rugby’s finest, seek perfect World Cup send-off September 16, 2019 While it is normal to see coaching turnover at the end of a World Cup cycle, the aftermath of the 2019 tournament will be particularly poignant. Steve Hansen, current world champion, will leave his post as New Zealand head coach. However, it is two of his countrymen, Joe Schmidt and Warren Gatland, whose departures will [...]
Mike Brown hits out at ‘bonkers’ TfL borrowing limits September 16, 2019 Transport for London (TfL) boss Mike Brown has criticised the government for imposing “bonkers” limits on its borrowing and for failing to provide it with long-term certainty over its funding. The TfL commissioner told City A.M. that the organisation’s borrowing caps, which are set by government, were based on “no logic other than discussions within [...]
HS2 told to halt ancient woodlands clearance works pending review September 16, 2019 The government has ordered the removals of ancient woodlands near the High Speed Two (HS2) route to be halted while it waits the outcome of a review into the controversial project. Transport secretary Grant Shapps has told HS2 Limited, the company building the high speed line, to stop its clearance works unless it can prove [...]
Police bail pensioner as hunt for Blenheim Palace’s stolen gold toilet continues September 16, 2019 Police investigating the theft of a solid gold toilet from Blenheim Palace have released a 66-year-old man on bail. The pensioner was arrested in connection with the incident after burglars ripped the £4.8m artwork out of a wood-panelled room in the early hours of Saturday morning. Read more: Banksy reveals Girl With Red Balloon shredding [...]