Twitter shares take a tumble as Elon Musk’s takeover u-turn sets in July 11, 2022 Shares continue to tumble for Twitter as the Silicon Valley titan feels the hangover of Elon Musk’s takeover u-turn this weekend. The stock dropped over seven per cent in early morning trading on the Nasdaq after the eccentric billionaire called off his $44bn (£37bn) purchase of the social media platform. He accused the company of [...]
Capital & Regional sells off East London residential site for £22m July 11, 2022 Property manager Capital & Regional (C&R) has sold off a residential development in Walthamstow for nearly £22m just months after snagging planning permission. The site at its 17&Central shopping centre in the East London district, which hosts businesses such as JD Sports, TK Maxx and River Island, has been sold to specialist developer Long Harbour, [...]
Tory MP Jamie Wallis was wearing leather mini-skirt and high heels during late-night car crash July 11, 2022 Tory MP Jamie Wallis, who has represented Bridgend since 2019, was wearing a “black leather mini-skirt” and “high heels” when he was involved in a late-night car crash, a court heard this afternoon. Wallis is on trial accused of failing to stop, failing to report a road traffic collision, driving without due care and attention [...]
£134bn: Biggest rise in tax receipts since 2000 gives chancellor room to make cuts July 11, 2022 The new chancellor of the exchequer may have leeway for tax cuts, after a £134bn spike in so-called ‘stealth ‘ taxes. There was the biggest increase in receipts since the turn of the century over the last 12 months, up to £718bn, representing a 23 per cent increase on the previous year. The rise from [...]
Exclusive: Political turmoil causing ‘uncertainty’ and jeopardising rules reform, Starling boss warns July 11, 2022 The chief of digital bank Starling warned that political volatility was causing “uncertainty” for businesses today as she voiced concerns that the government’s business reform agenda could be blown off course. In comments shared exclusively with City A.M., Anne Boden, who founded the digital bank in 2014, warned the tumult of Boris Johnson’s resignation last [...]
UK economy headed for prolonged slump despite jobs market resilience July 11, 2022 The UK economy is headed for a protracted slump and possibly a recession caused by soaring inflation hitting households and businesses, revealed a survey published yesterday. Output has dipped to its lowest level since February last year, when the country was in the teeth of the most onerous Covid-19 prevention measures, according to consultancy BDO. [...]
Heathrow apologises for poor service as it continues to battle travel chaos July 11, 2022 Heathrow has apologised for unacceptable service levels as it continues to battle the ongoing travel chaos. In a trading update published today, the west-London hub said that while it started recruiting staff in November, rebuilding capacity quickly following the end of travel restrictions had been “very challenging.” Over the last few weeks, travellers have reported [...]
Ofcom opens 999 monitoring system for telecom firms as UK pushes forward with digital transformation July 11, 2022 Ofcom has opened a new monitoring programme to determine whether telecoms providers are complying with rules designed to ensure that people can contact the emergency services at all times.
Go-Ahead’s bidder weighs options following group’s optimistic outlook July 11, 2022 Australian tour operator Kelsian said it was still weighing its options over the possible takeover of Go-Ahead as the transport powerhouse remained optimistic following a surge in passengers. Kelsian, which has until 1 August to make a firm offer, is going up against the £647.7m offer made by an Australian-Spanish consortium. The consortium – made [...]
Professional services network Xeinadin buys up Doncaster accounting firm Smith Craven July 11, 2022 London headquartered professional services firm Xeinadin has acquired Doncaster based accountancy firm Smith Craven. Xeinadin, which was formed through coming together of more than 100 independent accountancy firms throughout the UK and Ireland in 2019, has absorbed Smith Craven into its network, after first investing in the firm earlier this year. First established in 1928, [...]