Motor insurers vote to share risk for terrorism following 2017 London car and van attacks in Westminster, London Bridge and Finsbury Park | City A.M. July 23, 2018 Motor insurers have today confirmed plans to pool risk for terrorist attacks involving vehicles after London was hit with three fatal incidents in 2017. Members of the Motor Insurance Bureau (MIB), which is an industry body that acts to compensate the victims of uninsured drivers, have voted to place responsibility for compensating victims of vehicle-related [...]
Consumers splash out on holidays and drinks as confidence warms up | City A.M. July 23, 2018 Consumers spent more on eating out and long holidays in the second quarter of this year, as confidence warmed up along with the weather. The shift from cold weather to a long hot summer boosted the amount of money spent on leisure activities by three per cent compared to last year, according to Deloitte’s latest [...]
How much does it cost to live near Richmond Park? | City A.M. July 23, 2018 It’s little wonder that Richmond continually tops ‘best places to live’ lists. With a Royal Park that’s so big it accounts for nearly half of the total area of all London’s Royal Parks, beautiful Georgian family housing, some of the best river frontage in the capital and a thriving community-led high street, it’s difficult not [...]
Government aims for full fibre broadband coverage across UK by 2033 | City A.M. July 23, 2018 The government has outlined its ambition to bring full fibre to the entire of the UK by 2033 as it released its Future Telecoms Infrastructure Review (FTIR). The Department for Culture, Media and Sport also said it would be pushing to make super fast full fibre broadband installed as standard in new properties. Part of [...]
Stonegate confirms Be At One buyout and adds more City bars to portfolio | City A.M. July 23, 2018 Stonegate Pub Company has today confirmed its acquisition of bar chain Be At One, as well as a swoop on 15 additional sites in the City and West End. It emerged yesterday that the Slug and Lettuce owner was to acquire the cocktail chain for an estimated £50m as it beefs up its estate. The [...]
Prime Minister to promise nearly £1bn for Northern Powerhouse | City A.M. July 23, 2018 Prime Minister Theresa May will today hold the first ever Cabinet meeting in the north east of England, in a bid to convince voters of her commitment to the so-called Northern Powerhouse. She is expected to confirm an investment of up to £780m into transport for the region, providing major upgrades to the East Coast [...]
Amazon’s (AMZN) cloud and online retail services to push results sky-high, while Spotify (SPOT) wanes on revenue | City A.M. July 22, 2018 After showcasing impressive sales and subscription numbers on Prime Day and briefly breaking $900bn (£691bn) in market value last week, Amazon has investors convinced of a strong second quarter ahead of its results on Thursday 26 July. Consumer estimates collated by S&P Global Market Intelligence put the company’s revenue at $53.4bn for the quarter, at [...]
Facebook’s (FB) long-promised growth slowdown seems to be nowhere in sight | City A.M. July 22, 2018 Consensus estimates have put Facebook’s revenue for its second quarter at $13.4bn (£10.3bn), representing over 43 per cent year-on-year growth despite the company warning investors for some time that revenue growth rates will “decelerate on a constant currency basis”. With results set to be released on Wednesday, pressure has weighed heavily on the social media [...]
Airbus CEO eyes pan-European military merger with BAE, Dassault, Leonardo and Saab to form US defence rival | City A.M. July 22, 2018 Tom Enders, chief executive of aerospace and defence giant Airbus, has said he is open to building a European mega-merger that would create a military aircraft company with the strength to compete with the US. Enders said it was time to “seriously look at consolidating and coalescing efforts” into forming one body, the Sunday Times [...]
City of London Police get cryptocurrency training to help tackle money laundering | City A.M. July 22, 2018 Fears that the growth of cryptocurrencies are opening up further opportunities for criminals to launder money have led to the establishment of a new training programme by the City of London Police. Describing it as a “first of its kind”, a spokesperson for City of London Police confirmed the addition of a cryptocurrency course at [...]