Morrisons reports improved sales and increased profits and says Brexit has had no negative effect September 15, 2016 Shares in Morrisons jumped almost five per cent as the market opened, after the supermarket reported an increase in sales during the 26 weeks to 31 July, and said it hasn't seen any ill effects from the Brexit vote. The figures Revenue dipped to £8.03bn from £8.06bn this time last year, however like-for-like sales in the first [...]
The media consumption tipping point has arrived: Millennials lead charge from TVs to smartphones September 15, 2016 This year has witnessed a "tipping" point in media consumption, in which digital has overtaken traditional forms, a new report has found. IPA Touchpoints suggested we are becoming “superhuman information absorbers”, with half of our waking hours now spent consuming media or online information. The Institute of Practitioners in Advertising (IPA) surveyed more than 5,000 [...]
London’s tallest office buildings still command sky-high rents post-Brexit vote September 15, 2016 Fears have been mounting about the future of commercial property after the nation voted to leave the EU, but London's skyscrapers remain some of the most expensive office space in the world. London skyscrapers still command the fourth highest rental value in the world, beaten only by Hong Kong, New York and Tokyo, according to [...]
What a summer: George Osborne’s epic fall from high office September 15, 2016 At the end of July, former Chancellor George Osborne delivered the annual Margaret Thatcher memorial lecture. Her legacy is mighty. What would his be? As he attempted to define it in front of a City audience in the magnificent Guildhall, he concluded that he had “much more to contribute to our nation's discussions in the [...]
City Moves for 15 September 2016 | Who’s switching jobs September 15, 2016 Benevolent.ai Benevolent.ai, a British artificial intelligence company, has appointed IBM Watson’s vce president of Watson platform; Jerome Pesenti as CEO of its technology division, benevolent technology. Jerome will also join the main board of the company. Jerome has been focused on big data and machine learning for the past 16 years. He joins benevolent.ai from IBM Watson where [...]
Hybrid engine firm Vantage Power is setting itself apart with clever software September 15, 2016 Not many startups hunt for premises with the requirement that they can fit a double-decker bus in them. But for Vantage Power, that was a necessity. Founded by Imperial College graduates Alex Schey and Toby Schulz, the firm makes hybrid – part-diesel, part-electric – engines. Vantage Power can turn four buses currently in use hybrid for the [...]
Cyber attack fears push up hack insurance September 15, 2016 Increasing fears over potential cyber attacks has pushed up the number of firms taking out hack insurance. Research from insurance broker Marsh has found 83 per cent of respondents say they have a basic or complete understanding of their company’s cyber exposure, compared to 61 per cent last year. According to Marsh almost a third [...]
The UK’s bonus system among the world’s most unfair – CIMA September 15, 2016 The UK’S bonus system is not fair a survey from the Chartered Institute of Management Accountants (CIMA) has revealed. It found the UK has the second-least meritocratic bonus system in the world with bonuses causing resentment among two-thirds (35 per cent) of UK firms. Only the United Arab Emirates faired worse than the UK, with 42 [...]
Shadow MPC calls on Mark Carney to wait before pulling the trigger on another rate cut September 14, 2016 City economists have told Mark Carney to keep interest rates glued at their record low when the Bank of England meets today. City A.M.’s Shadow monetary policy committee (MPC) voted eight-to-one in favour of holding rates at 0.25 per cent, as experts said the governor and his fellow rate-setters should wait for more signs of [...]
Prime Minister Theresa May set to power up Hinkley Point September 14, 2016 The government is expected to press the button on two new nuclear reactors in Somerset as early as this week. Yesterday, reports suggested that the government has told France it has approved an £18bn plan by French company EDF to build two nuclear reactors at Hinkley Point in Somerset. The likely green light for the reactors is [...]