Mind the funding gap: Can the TfL boss secure London’s Tube network’s future? September 21, 2021 It’s only September, but one date is very much etched in the mind of Transport for London (TfL) Commissioner Andy Byford: 11 December. That’s when TfL’s latest £1bn funding package runs out, the third short-term deal the government has bestowed on the capital’s transport network, despite repeated pleas for a multi-year settlement instead. And although [...]
The Only Way Is Essex star Lewis Bloor accused of conning 200 people in £3m diamond scam September 21, 2021 A cast member of the popular TV show The Only Way Is Essex allegedly used a fake name to con hundreds of people in a £3m diamond scam, a London court was told today. Lewis Bloor 31, who joined the cast of the ITV2 reality show for three years from 2013, allegedly posed as “Thomas [...]
Breaking: Police arrest 23 protesters after M25 is blocked for fifth time in a week September 21, 2021 Police have arrested 23 people after environmental protesters targeted the M25 for a fifth time in just over a week. Surrey Police said they were called to junctions 9 and 10 of the motorway just after 8am following reports of Insulate Britain protesters on the clockwise and anti-clockwise carriageways. The force said “a number” of [...]
London legend Charlie Mullins sells his Pimlico Plumbers empire for nearly £100m September 21, 2021 London’s best-known plumber, Charlie Mullins, is selling the company he founded more than 40 years ago – Pimlico Plumbers – to U.S.-based Neighborly. Fnancial details of the transaction were not disclosed, but Mullins reportedly pockets close to £100m, according to various media reports. Founded in 1979, Mullins started the company by working from home with [...]
Markets: FTSE 100 slumps to near three-month low September 20, 2021 The FTSE 100 index dipped 0.86 per cent today, closing at 6,904, as financial stocks and mining companies were hammered. The capital’s premiere index fell to lows of 6,828, down 1.6 per cent compared to the previous close, as concerns about inflation spooked investors. Financial stocks led the declines with Prudential down 8.4 per cent [...]
Perfect energy storm: Do the gas price hikes mean your bills will rise? September 20, 2021 Government ministers and energy companies are in crisis talks today, as the price of gas has soared in recent weeks, putting several energy suppliers out of business and forcing some factories to stop production altogether. The price of wholesale gas has surged by 250 per cent since the beginning of the year and added 70 [...]
City minister pledges ‘competitive tax rates’ for UK financial services sector ahead of Budget September 20, 2021 John Glen has promised that the UK’s financial services sector will benefit from “competitive tax rates,” ahead of the next Budget on 27 October, according to reports. “To be competitive, we have to have competitive tax rates and that’s what’s on the chancellor’s mind at the moment,” the City minister told the Financial Times, which first reported the [...]
Chancellor hails London tech success as capital beats European competitors again September 20, 2021 Chancellor Rishi Sunak today hailed London’s bounce back from the pandemic as new figures show the capital is sprinting ahead of rival European tech hubs. London has attracted more venture capital investment to its startups than anywhere else in Europe and now boasts more unicorns – firms valued at more than $1bn – than France [...]
City should brace itself for €900bn Brexit hit if Brussels plays clearing politics September 17, 2021 The City and several financial services groups in Brussels are lobbying for an extension to clearing house access beyond June of next year. Yesterday, a trio of major lobby groups for Europe’s finserv sector called on Brussels to extend the EU’s access to London clearing houses amid warnings of financial instability. The groups wrote to [...]
S4 Capital confirms tech merger after Covid-19 pushed ‘digital transformation’ September 17, 2021 Martin Sorrell’s S4 Capital has confirmed its brand Media.Monks’ merger with digital services firm Zemoga, to bolster its technology services across product design, engineering and delivery. The deal forms part of yet another bout of expansion for the advertising company. Sorrell earlier this week credited the Covid-19 pandemic with accelerating “the speed of digital transformation [...]