Row erupts as new London arena dubbed ‘enormous glowing blight’ gets planning approval March 23, 2022 A row has erupted over a new music venue branded an “enormous glowing blight” which has now been granted planning permission. The MSG Sphere in Stratford at the site of the 2012 Olympics got approval from the London Legacy Development Corporation (LLDC) today, despite more than a thousand complaints from residents about the 21,000-seater arena. [...]
Mayor of London Sadiq Khan issues high air pollution alert for today and tomorrow March 23, 2022 The Mayor of London has triggered a ‘high’ air pollution alert for today and tomorrow as London experiences imported pollution from the continent alongside a build-up of local emissions, Sadiq Khan’s office said in a statement. This is the first ‘high’ pollution alert that the Mayor has issued since August 2020. ”Toxic air is extremely dangerous [...]
Hong Kong developer swoops in with £96m steal for Vauxhall Square site March 16, 2022 Vauxhall Square in London has been sold by a Chinese developer for £96m, which is a reported discounted price of 42 per cent. A subsidiary of Hong Kong-based company the Far East Consortium International (FEC) swooped in for the 14m square-foot site, buying it off rival firm, Guangzhou-based R&F Properties, on the cheap. It was [...]
Centaur media’s earnings spike by 68 per cent in pandemic bounce back March 16, 2022 Marketing firm Centaur bounced back from pandemic difficulties with a 68 per cent spike in earnings. The London-based company increased its revenue from £32.4m in 2020 to £39.1m in the last 12 months, representing a more than 20 per cent increase. Its adjusted EBITDA (earnings before interest, taxes, depreciation, and amortisation) spiked to nearly £6.5m, [...]
Bounce and Flight Club owner raises $35m to expand experiential bar estate in US and UK March 14, 2022 The company behind Bounce and Flight Club has announced a growth capital raise of more than $35m to support its expanding portfolio. State of Play Hospitality said the raise was funded by both existing and new investment partners, including US-based Bregal Partners. The company, which specialises in experiential bar concepts, said the fund will be [...]
Radiator firm Stelrad’s revenue up almost 40 per cent, with operating profit more than doubling March 14, 2022 A UK-based producer for steel panel radiators has announced a near 40 per cent increase in revenue for 2021. Stelrad made £272m in the last 12 months with its operating profit more than doubling to £33.2 million in 2021 up from £15.6 million the previous year. The firm, which entered into the London Stock Exchange [...]
Automation and decarbonisation could further deepen poverty in London March 14, 2022 Increasing automation and a move to a greener economy could further deepen inequality in the capital post-pandemic. The gap between’s London’s poorest and richest widened during coronavirus, with people claiming unemployment benefit substantially above the national average. As companies seek to recoup lost profits from the pandemic, many are turning to automation of roles, thanks [...]
Drivers in Camden, Tower Hamlets and Lambeth among worst offenders in UK March 10, 2022 London is home to some of the worst drivers in the country, with Camden in particular having the fourth-worst record for crashes nationally. Four key London authorities have among the highest number of accidents per 100,000 registered vehicles, new figures show this week. The culprits were Camden, Tower Hamlets, Lambeth, and Westminster, with other areas [...]
London a £106bn key driver of surging global online sales in wake of pandemic March 10, 2022 London was at the forefront of soaring global online shopping, with record-breaking investment in the capital last year. As the world emerged from the pandemic, retailers took in more than $140bn (£106bn) from web-based sales in 2021 – more than double the previous year. Following numerous lockdowns which led to a spike in virtual shopping, [...]
London firefighters battle major blaze in the City as Aldgate tower block fire leads to road closures March 7, 2022 A major fire is currently raging near Aldgate East station as dozens of firefighters are battling a huge blaze. Social media images have shown smoke across the City of London after a fire appears to have broken out on one of the floors of the Crawford Building on Whitechapel High St. The London Fire Brigade [...]