The train journey between London and Norwich is about to get faster, with a £1bn order for new trains August 10, 2016 The crawl between London and Norwich is about to be turbo charged (or at least get a little speedier), after the government gave the East Anglia rail franchise back to Abellio. In a statement today the government said its decision will cut travel times between Liverpool Street and Norwich, Cambridge and Peterborough by an average of [...]
Vendors trying to shift property after the Brexit vote have cut prices by nearly 10 per cent in some parts of London August 10, 2016 Vendors trying to shift their property in the aftermath of the Brexit vote and stamp duty changes are cutting prices by nearly 10 per cent in some parts of London. Data from Zoopla shines a light on just how many houses have had their prices reduced, and by how much. Read more: Here's everything you need to [...]
Nice pay day for Paysafe as revenue more than doubles August 10, 2016 Paysafe shares opened up this morning after the company announced revenue rocketed during its first six months of 2016. The figures The payment solutions maverick revealed revenue for its first half of this year had increased to $486.7m (£373.2m), up 118 per cent compared with $223m the year before. Meanwhile, profit before tax increased to [...]
G4S revenue inches up as profit and earnings increase August 10, 2016 Shares in outsourcing firm G4S have shot up by over 17 per cent after the company reported an uptick in earnings and revenue for the six months to 30 June. The figures Revenue was up to £3.53bn from £3.42bn in the first half of 2015. Profit before tax rose to £115m from £80m last year, and earnings [...]
M&S pay row intensifies as workers and management engage on proposals this week August 10, 2016 M&S management are set to respond to staff concerns about cuts to premium pay this Thursday, City A.M. understands. M&S are planning to remove extra pay for employees working on Sunday and have been hearing alternative proposals from staff as part of an ongoing consultation. Read more: M&S accused of threatening to sack staff who reject [...]
Peppa Pig maker Entertainment One has turned down a £1bn takeover offer from ITV August 10, 2016 The firm behind the hugely successful children's TV show Peppa Pig has rejected a £1bn takeover bid from ITV. In a stock exchange announcement this morning, Entertainment One (EOne) said that the offer of 236p per share “fundamentally undervalues” the company, adding that its board had unanimously rejected the bid. Read More: Peppa Pig maker snorts [...]
Rail union RMT announces more strikes – this time on the Eurostar August 10, 2016 Rail union RMT has announced more industrial action, with Eurostar workers set to strike over seven days this month, including the Bank Holiday weekend – over their work/life balance. RMT said this morning that Eurostar train managers would strike for four days from 12.01am on Friday 12 August until 11.59pm on Monday 15 August, with a [...]
Four reasons why you should think about switching your bank account August 10, 2016 Banks are going to offer customers more sophisticated digital products following an order from competition chiefs. Every high street bank alongside the only-online “challenger” banks will soon have to launch an app where customers can see all of their accounts in one place. It will also allow people to see better deals among competitor banks, so [...]
Sick of the strikes? Job-threatening technology could lead to even more industrial disputes August 10, 2016 The strike bringing misery to thousands of commuters on Southern’s railway line may be merely the start of a wider trend of industrial action throughout the UK. The RMT union has got its tail up and yesterday declared that workers on the Virgin east coast mainline have voted in favour of walkouts, while passenger groups are [...]
Summer reading: Four leading UK economists offer their book recommendations August 10, 2016 With its political and economic ructions, this summer has been anything but sleepy. If you’re looking for some holiday reading to prepare you for the year ahead, City A.M. has asked four of the UK’s leading economists to offer their recommendations. Tim Harford writes the Undercover Economist column for the FT and is presenter of More [...]