London IPOs in decline since Brexit vote as British companies flock to New York June 24, 2022 London’s IPO market share has dropped since the Brexit vote as British companies seek to list in New York. Listings in the UK are at their lowest in over 10 years despite the government relaxing some rules to attract IPOs and make London a post-Brexit listings favourite. IPO activity in the country dropped to about [...]
Energy giant Centrica turns to hundreds of former soldiers in push to greener energy June 24, 2022 Centrica is planning to hire about 500 former soldiers, sailors, and air force personnel by the end of next year as it looks to transition to Net Zero. The energy giant will recruit them into engineering roles across British Gas and the wider group as the company aims to reach Net Zero by 2045. Greg [...]
UK leads Europe in mortgage market might but sits at bottom for share of population that owns home June 24, 2022 While the UK may trail other European nations when it comes to the total proportion of the population that own their own home, it does lead the way when it comes to the might of the mortgage sector and the number of properties purchased by borrowing. At 65.1 per cent, the UK sits well within [...]
Party in turmoil: Tory MPs increasingly frustrated as Boris Johnson’s authority crumbles June 24, 2022 The Conservative Party lost their former stronghold of Tiverton and Honiton to the Liberal Democrats and surrendered Wakefield to Labour at the by-elections overnight. Therefore, Conservative MPs are increasingly nervous that retaining their seats at the next general election will “no doubt” be difficult following the double by-election loss. Prime Minister Boris Johnson acknowledged that [...]
Flying high: 10,000 UK jobs supported as BAE Systems cashes in with £500m order for Spanish fighter jets June 24, 2022 Thousands of UK jobs will be supported thanks a mammoth order from Spain for a new fleet of 20 fighter jets, with BAE Systems cashing in £500m of a £1.5bn contract. The major purchase to expand Spain’s armed forces was announced in Berlin this week, and will increase the number of Typhoons in Europe to [...]
Exclusive: Sunak to unveil plan to slash EU financial services rules in Mansion House speech June 24, 2022 Rishi Sunak will unveil his plan to slash EU financial services regulations in a major set piece Mansion House speech next month. City A.M. understands the chancellor will announce details of his Financial Services and Markets Bill at the City’s annual Mansion House bankers’ dinner on 19 July and will introduce the legislation to the [...]
BT rushes to deny claims that call centre staff have launched foodbank to help them through cost-of-living crisis June 24, 2022 Telecoms giant British Telecom denied this morning a union’s claims that call centre staff have set up a foodbank to help them during the cost-of-living crisis. buThe Tyneside CommunitEE pantry was set up by staff at EE – owned by BT – and offered cupboard staples such as pasta, cereal and oats, as well as [...]
Checking out: CEO of travel giant TUI announces departure after more than 10 years in the job June 24, 2022 Fritz Joussen, the CEO of travel group Tui has announced his resignation after 10 years as boss of the firm and leading it through the pandemic. Joussen will step down from the German holiday giant at the end of September, when he will be replaced by the company’s chief financial officer, Sebastian Ebel. Mr Joussen [...]
Shares in defence supplier Ultra soar as Kwarteng hints of £2.6bn takeover approval June 24, 2022 The £2.6bn takeover of UK defence supplier Ultra Electronics by private equity-owned Cobham is reportedly set to receive a green light from the government. Business secretary Kwasi Kwarteng announced on Thursday that he is “minded to accept undertakings offered”, despite national security concerns. The move seemingly sparked the interest of investors, as Ultra’s share soared [...]
After crushing by-election defeat: What next for beleaguered prime minister Boris Johnson? June 24, 2022 After the Tories’ humiliating defeats in two parliamentary by-elections overnight, Boris Johnson’s authority has suffered a double blow. A fatal blow, some believe. The contests in Wakefield, West Yorkshire and Tiverton and Honiton, Devon were triggered by Conservative MPs resigning in disgrace. Wakefield’s Imran Ahmad Khan quit as an MP after being convicted of sexual [...]