300-year-old Marylebone estate Howard de Walden enters co-working market November 3, 2022 A 300-year-old estate that owns Marylebone is making an entrance in to the co-working sphere after office rental income dropped last year. Howard de Walden, which is worth about £5bn, is partnering with Spacemade to operate a flexible working facility in the area of central London. It made the move after its results showed permanent [...]
Workspace leaser IWG’s revenues surge as firm seeks to capitalise on hybrid working November 1, 2022 Serviced office provider IWG today said the move to hybrid working is driving demand for its workspaces after posting “strong” results that saw its revenues increase 25 per cent compared to last year. The office landlord today said its group revenues for the three months ending on September 30 were 25 per cent higher than [...]
Keystone Law ready to poach lawyers hit by downturn, firm chief James Knight says September 15, 2022 Keystone Law’s head has said the listed law firm is readying itself to profit on the looming economic downturn, with a view to poaching lawyers laid off from other firms. Speaking to City A.M. Keystone chief executive James Knight said the remote-first law firm is ready to pick up those lawyers facing heightened pressure to [...]
Solicitors watchdog to regulate after-work drinks and private parties September 4, 2022 The solicitors’ watchdog has said it will take action to investigate and prosecute cases of sexual misconduct that happen away from the office – even if those incidents occur at a pub or in a person’s home. The Solicitors Regulation Authority (SRA) said it will intervene in cases of sexual misconduct that take place in [...]
UK’s review of remote working holidays sparks tax crackdown fears September 1, 2022 The UK’s Office for Tax Simplification (OTS) has opened a review into those who work abroad remotely, in a sign the government may soon begin to crack down on remote working holidays. The OTS has begun collecting data on people who work for UK companies from abroad, following a major uptick in the numbers of [...]
Peloton sends staff back to the office in far-reaching turnaround plan August 13, 2022 Exercise bike maker Peloton has set out plans to hike its prices, cut costs, and force its staff back into the office, as it seeks to turnaround after demand for its home gym equipment dipped following the lifting of Covid-19 restrictions. In an internal memo published by Bloomberg, the New York headquartered running machine seller [...]
Exclusive: A third of all small businesses in Britain set to fold unless they get access to fresh funding August 6, 2022 One in three UK small and medium enterprises (SMEs) say their survival is dependent on accessing finance by the end of the year, according to new research shared exclusively with City A.M. this weekend. A third of all SMEs in Britain fear their business will collapse if they are unable to access finance, such as [...]
Exclusive: Second Home dodges bankruptcy and eyes US expansion with fresh funding July 26, 2022 Shared office space firm Second Home has scooped a £7.5m funding package to dodge bankruptcy and is now eyeing up expansion in the US, City A.M. can reveal.
Hybrid capital: London takes world’s number 1 spot as global hub for remote workers July 23, 2022 London is the top city in the world for global, remote workers, followed by Toronto and Buenos Aires. The UK is home to the most organisations hiring global, remote working in the EMEA region, followed by Germany and France, respectively. The first half of this year saw a 154 per cent increase in UK employers [...]
Legal market slump could force lawyers back into offices, Keystone Law chief says July 21, 2022 A slump in the market for legal services could see the UK’s top law firms put greater pressure on their lawyers to return to offices and see them begin to lay off newly hired staff, Keystone Law founder James Knight told City A.M. The push could in turn benefit fully-remote law firms such as Keystone [...]