Superdry back in the black after pandemic-induced loss October 7, 2022 Superdry is back in the black with a profit before tax of £22m, recording from a loss of £12.6m last year. The British clothing giant’s statutory profit was up to £18m following a loss of £36.7m last year, while its revenue was up almost 10 per cent to £609.6m, from April 2021 until 2022. Buoyed [...]
Licensing round launched for new North Sea oil and gas projects October 7, 2022 The latest licensing round for oil and gas projects has been launched, paving the way for new developments in the North Sea.
City Moves: Who’s switching jobs in the Square Mile? October 7, 2022 City A.M.’s Millie Turner provides a roundup of the most important hires and job moves across the City, every morning. Email citymoves@cityam.com to be featured. Atrato Alternatives asset management and advisory group Atrato has poached its latest director from abrdn to help oversee the supermarket investment fund management team. Ollie Mottram, who most recently held the position of transactions maager at abrdn, [...]
UK jobs market finally flashes cool down signals as hiring slows October 7, 2022 The UK jobs market is finally flashing slowdown signals after running hot for months after the worst of the Covid-19 crisis, a closely watched survey published today reveals. Firms are moderating hiring campaigns in response to concerns over the UK’s weakening economy and a shortage of workers. Britain is on course for a recession as [...]
Litigation funders warn EU regulation could hinder class-action lawsuits October 6, 2022 UK litigation funders have hit out at EU plans to regulate the sector in arguing the bloc’s proposals to cap fees could prevent class action lawsuits going forwards. The EU’s proposal is clear the litigation funding sector has the potential to support access to justice and help ensure public cases are brought to court, [...]
EXCLUSIVE: Starmer sounds alarm on house price ‘shocks’ as mortgage rates rise October 6, 2022 Sir Keir Starmer has warned about potential housing price “shocks” across the UK in the wake of dramatic mortgage rate rises. The Labour leader today told City A.M. there’s “no market confidence” in the government and that “we are going to see these shocks in mortgages and housing as a direct result of it”. Starmer [...]
Sweden confirms detonation caused ruptures across Nord Stream pipeline October 6, 2022 Sweden's investigation of the Nord Stream pipelines have bolstered suspicions of "gross sabotage" involving detonations.
Pound slumps against US dollar after Fitch sounds alarm on UK finances October 6, 2022 The pound slumped against the US dollar today while UK debt sold off after one of the world’s top credit rating agencies issued a sombre warning to investors about the country’s finances. Sterling weakened 1.55 per cent against the greenback to buy 1.115. It fell by a slightly smaller amount against the euro too. The [...]
FCA slaps City broker with £531,000 fine over missing suspicious transactions October 6, 2022 The Financial Conduct Authority (FCA) has slapped City stock broker Sigma with a £531,000 fine after it failed to identify 97 suspicious transactions. The watchdog also found the firm guilty of inadequately reporting 56,000 contracts for difference – an insurance tool used by market participants – between December 2014 and August 2016. Both former and [...]
£1.5bn Liverpool Street station upgrade sparks conservationists’ concerns October 6, 2022 A £1.5bn proposed upgrade of Liverpool Street station has sparked concern among conservationists. Shard Quarter developer Sellar, alongside Network Rail and Elizabeth line operator RMT, unveiled the plans today. The mixed use blueprint includes plans for up to 10 floors of office space, as well as six floors taken up by the Andaz hotel. Developers [...]