Allergy Therapeutics tumbles after halting UK manufacturing October 4, 2022 Allergy Therapeutics’ share price has tumbled today after announcing it has halted its manufacturing in the UK following an internal review of its operating processes. Shares plunged more than 10.5 per cent to 17.00p per share by 11:40BST. The recent losses weigh on an ongoing trend into the red, with the stock having lost more [...]
Truss does not rule out raising state pension age beyond 67: ‘Whatever it takes’ October 4, 2022 Prime Minister Liz Truss did not rule out raising the state pension age when challenged. Resisting speculation on “all kinds of decisions that haven’t yet been made” she said she would “do what it takes” to address the economic outlook. Speaking to broadcasters in Birmingham, and asked if she will end up raising the state [...]
Deliveroo partners with Channel 4 for Gogglebox-style ad series October 4, 2022 Deliveroo has teamed up with Channel 4 to create a Gogglebox-style series on how their food delivery had ‘saved the day’. Working with ad agency The Outfit, the food delivery giant will create 10 contextual ads filmed in an observational documentary style, which will be shown around Channel 4 hits like Made in Chelsea and Grand [...]
Productivity after sight-loss October 4, 2022 | City Talk Hugh Bassett Worldwide, over 1.1 billion people are living with unaddressed sight loss. This can vary in severity,but in many cases, it is intuitive that this will lead to a lack of productivity. Sight loss can cause orexacerbate poverty through reduced employment prospects and work productivity, as well asadversely affect educational opportunities and outcomes. This [...]
From Poll Tax to tampons and 10p rates: Historic U-turns that left governments red faced October 4, 2022 Kwasi Kwarteng was forced into a U-turn on plans to scrap the 45p tax rate yesterday, just ten days after announcing the proposal in his ‘mini-budget’. While undoubtedly embarrassing for the new Chancellor, he is by no means alone in having to rapidly rethink big Budget announcements. City A.M. caught up with AJ Bell head [...]
17,000 construction firms risk collapsing any minute as high inflation is ‘destroying entire sector’ October 4, 2022 The number of UK construction companies at significant risk of closure has jumped 54 per cent to 16,755 this quarter, up from 10,686, according to fresh data shared with City A.M. this morning. Construction companies are struggling to cope with spiralling construction costs, inflation and rising interest rates on their debt. In the last quarter [...]
Kwarteng’s ‘mini budget’ sends mortgage bills soaring £1,500 October 4, 2022 The government’s mini budget has sent the average mortgage borrower’s bill soaring by £1,500 a year, new figures have shown, in a hike that has been dubbed a ‘Kwarteng premium’ by some brokers.
Truss facing revolt on real-term benefits cut as she insists ‘no decision has been made’ yet October 4, 2022 Liz Truss has suggested she is undecided on increasing benefits in line with inflation, as she faces a rebellion from backbench Tory MPs over the policy. The embattled PM was probed on the issue during a BBC Radio 4 Today Programme interview, in wake of a testing day on Monday during which she was forced [...]
Poshmark purchased by Naver in £1.05bn shopping spree October 4, 2022 Fashion resale platform Poshmark has been snapped up by South Korean e-commerce firm Naver Corp, leaving some investors sceptical about the timing of the takeover. Naver’s share price took a hit after the announcement of the $1.2bn acquisition, with shares tumbling almost nine per cent overnight on Monday. The internet search engine giant said it [...]
Anglo American and EDF join forces on South African renewables venture October 4, 2022 Mining giant Anglo American said it would join forces with French energy giant EDF today to develop a new “renewable energy ecosystem” in South Africa.