Instagram and Facebook are introducing time limits for your social media scrolling habit | City A.M. August 1, 2018 Facebook is tackling concerns that too much social media can be bad for our mental health by implementing a few new features inside its app and on Instagram. Users will be able to view a dashboard of their activity, which will show both the average time and the daily time they’ve spent on the app [...]
Trevor Steven: Manchester United manager Jose Mourinho doesn’t need new players, he needs a better relationship with his current ones | City A.M. August 1, 2018 Jose Mourinho’s future as Manchester United manager is back in the spotlight after he complained about his players and a lack of new signings during the club’s pre-season tour of the United States, but in my view his problems lie closer to home. Think back to Leicester’s incredible Premier League triumph in 2016: what was [...]
House of Fraser’s new owner issues profit warning | City A.M. August 1, 2018 House of Fraser’s future prospects have been dealt another blow after its owner issued a profit warning, throwing its emergency funding into doubt. C.banner, the Chinese company which also owns Hamleys, issued a statement to the market today warning its profits will be lower and cancelling a planned placing due to the plunge in its [...]
It’s Tesla’s make or break time: Here’s what you need to know before tonight’s results | City A.M. August 1, 2018 Investors are waiting with bated breath to see what Tesla brings out in its second quarter earnings report tonight, as the company nears its make or break deadline. If you’ll be looking out for the results as markets close in the US, here’s what we think you might want to know about. Legal issues It [...]
London’s historic India Club saved as Westminster council halts Strand development plans | City A.M. August 1, 2018 The Strand’s iconic India Club has been spared destruction by Westminster city council after an application for redevelopment was denied last night. Plans to revamp one of London’s most established Indian restaurants were refused on the grounds of its cultural and historical importance. Marston Properties, the freeholders who had hoped to create a more modern [...]
Co-op Group looks to sell off insurance division for £300m | City A.M. August 1, 2018 The Co-op Group is looking into selling off its general insurance operations for a sum of around £300m. Investment bankers from Fenchurch Advisory Partners have been brought in to advise the company on potential options for its insurance business. The Co-op division, which made £11m in underlying profit last year, has started to approach potential [...]
City of London office take-up rises after landmark Square Mile deals such as Chinese embassy move | City A.M. August 1, 2018 Take-up of offices in the Square Mile jumped 10 per cent over the last year, as demand for City of London commercial space shows no sign of slowing down. In the 12 months to June roughly 3.5m square feet was taken up in London’s financial district, rising 31 per cent higher than the 10-year average [...]
Can Apple win the trillion-dollar race today? | City A.M. August 1, 2018 After a bumper set of results last night, Apple is riding on a high that could take it all the way to a trillion-dollar market valuation. Apple’s share price has leaped up to 4.11 per cent in pre-market trading, at a value of $198.11 (£151) per share. If it’s to break the trillion-dollar mark, Apple [...]
HIKE: The shadow MPC says it is time for the Bank of England to raise interest rates | City A.M. August 1, 2018 The Bank of England is widely expected to hike interest rates tomorrow after delaying a move in May in light of a modest growth rebound and a tight labour market. City A.M.’s shadow monetary policy committee (MPC) believes the time is right on balance, although with a split between economists which is likely to be [...]
Nationwide House Price Index ticks up – but economists urge caution | City A.M. August 1, 2018 Annual house price growth has climbed ahead of a possible rate rise this month, according to the Nationwide House Price Index. Prices in July rose by an average of 2.5 per cent, up from two per cent in June. It comes just a day before the Bank of England’s monetary policy committee (MPC) meets to [...]