One Liverpool Street: City of London approves Crossrail entrance office block November 5, 2019 Plans to build a 10-storey office building at Liverpool Street’s future Crossrail entrance have been approved, despite concerns from City heritage groups. One Liverpool Street will be run by asset managers Aviva Investors, through a joint venture with Transport for London (TfL), and will replace an existing six-storey office block. Read more: Crossrail at risk [...]
O2 steps into 5G driverless car testing in London as it grows mobile customer base November 5, 2019 O2 will have a hand in an ambitious project to trial driverless cars on London roads, using its 5G network to help test the vehicles in Greenwich. The mobile phone network, which this morning announced it had hit 34m customers following its 5G rollout last month, said using the technology on the roads could reduce [...]
Rory Stewart signals potential fare rise as he slams TfL losses under Sadiq Khan November 5, 2019 Rory Stewart has hinted he would likely increase public transport fares if elected mayor and has claimed London is “stuck in 2008”. The independent mayoral candidate, and former Conservative cabinet minister, told City A.M. it “cannot make sense to be running a system that’s losing this much money every year”. Read more: Rory Stewart: The [...]
Cobham £4bn takeover decision delayed as Leadsom looks for more time November 5, 2019 The £4bn buyout of Cobham by American private equity giant Advent could have run into problems, after the government said it would spend more time looking into whether the deal raised national security risks. In a written statement, business secretary Andrea Leadsom said defence secretary Ben Wallace had got in touch regarding the national security [...]
Morrisons takes fight over data breach liability to Supreme Court November 5, 2019 Morrisons will begin its final appeal to the Supreme Court this week after losing a landmark case over the liability of employers in staff data breaches. The supermarket giant lost an initial challenge at the Court of Appeal in October last year after a judge ruled that the supermarket was legally liable for a former [...]
Insurance industry must improve corporate culture, Bank of England warns November 5, 2019 The Bank of England sent out a warning to insurance bosses today, demanding that they improve workplace culture following a spate of sexual harassment revelations. In a “dear CEO” letter written to corporate heavyweights in the insurance industry, the Bank’s Prudential Regulation Authority (PRA) flagged recent instances of alleged abuse as of “deep concern”. Read [...]
Philip Hammond to step down as MP at December election November 5, 2019 Philip Hammond will quit politics at the upcoming general election rather than run against his party, the former Treasury boss confirmed today. Hammond, who has railed against Boris Johnson’s Brexit strategy from the backbenches since leaving his post as chancellor, said he has made the decision with “great sadness”. Read more: These are all the [...]
UK mulls change in IPO rules to attract tech startups November 5, 2019 Downing Street has reportedly held discussions with representatives from the investment industry about changing the UK’s listing rules to encourage high-growth firms such as tech startups to float in London. The talks were part of a push by Number 10 to help boost the City after the UK leaves the EU at the end of [...]
Stormzy calls on Jacob Rees-Mogg to resign over Grenfell remarks November 5, 2019 Grime artist Stormzy has called for Jacob Rees-Mogg to resign after the Tory MP said on Monday that the victims of the Grenfell Tower fire should have ignored the London Fire Brigade’s advice to “stay and wait.” The rapper lashed out at the leader of the house on Twitter, writing: Read more: Jacob Rees-Mogg says [...]
Inmarsat rejects call from investor to delay takeover court hearing November 5, 2019 Satellite firm Inmarsat, which is being bought by a private equity-led consortium, has rejected a call by investor Oaktree Capital to delay a takeover court hearing until it has clarity on the status of its US spectrum holdings. Oaktree, which has a 2.85 per cent stake in Inmarsat, called on the board to delay the [...]