US shareholders in Grenfell Tower cladding firm Arconic given go ahead to sue own company July 19, 2021 US shareholders of the Grenfell Tower cladding firm Arconic have been given the green light to proceed with a lawsuit against the company, US District court in Manhattan has ruled. According to witness statements, the company did go ahead and use the controversial cladding material even though managers were aware that the material that was [...]
Exclusive: ‘Pull the plug on test and trace and delete the app’, says Pimlico Plumbers chief Charlie Mullins July 16, 2021 This week, more than half a million people were pinged by the NHS Test and Trace app, the highest figures ever. A total of 520,194 notifications were sent out, informing the app’s users that they had been in close contact with someone who had tested positive for coronavirus. People must isolate for 10 days, leading [...]
Corona Impact Series: The Walthamstow bakery that was saved by quick thinking and simple tech July 16, 2021 In this series, City A.M. looks at the financial and economic impact of the ongoing pandemic on a range of small and medium-sized businesses across London. READ THE ENTIRE SERIES HERE TODAY BREAD is an artisan bakery based in East London, founded in 2013 from a small flat in Walthamstow. The bakery was the passion project of Alexandre Bettler, who [...]
Goldman Sachs boss champions post-Brexit London and expects 70 per cent of staff back in office July 16, 2021 Goldman Sachs boss Richard Gnodde said the company was as committed to its London head office as ever, buoyed by his belief that the UK capital will remain dominant as a world-leading financial centre post-Brexit. “For us we’ve been very clear, the centre of gravity for our workforce is our buildings, and in London it [...]
eve Sleep sees sales up, bolstered by online shopping July 16, 2021 Mattress maker eve Sleep today reported overall revenue growth of 13 per cent in the first half of 2021, reaffirming full-year expectations. Despite increased sales, shares in the London-based company were down over 15 per cent early morning. eve Sleep said sales growth was primarily online due to coronavirus restrictions, but suggested the trend to [...]
Londoners may be set for bumper 5 per cent TfL fares hike in 2022 July 15, 2021 Londoners could face a 5+ per cent hike in Tube fares next year as Transport for London (TfL) is forced to adjust its prices to ballooning inflation. Under the terms of TfL’s most recent government bailout, the transport body has to increase its prices each year by 1 per cent more than the retail price [...]
London records strongest half year IPO performance since 2014 July 15, 2021 The UK retained its dominance as the most attractive European IPO venue by funds raised, continuing the deal momentum witnessed in the previous two quarters. Both the main market and Alternative Investment Market (AIM) have built on the resurgence of activity seen in the last two quarters, with 10 IPOS raising £3.1bn on the main [...]
FTSE 100 sees slight fall as energy giants face downturn July 15, 2021 London’s FTSE 100 fell slightly this morning as the energy sector and domestically focused companies both faced losses. The capital’s premier index fell by 0.02 per cent, owing to losses in energy stocks, notably BP and Royal Dutch Shell. Just Eat and JD Sports also saw losses as Covid-19 cases soar across the country. The [...]
Two weeks to go: Square Mile SMEs urged to take advantage of City Corporation financial support before deadline July 15, 2021 | City Talk The City of London Corporation has today (15 July) called on qualifying SMEs based in the Square Mile to apply to its Covid Business Recovery Fund before the scheme closes on 30 July. The funding pot offers up to £50 million in support for SMEs which contribute to the Square Mile’s vibrancy at street level, and which directly provide services to [...]
Darktrace upgrades 2022 expectations after strong sales July 15, 2021 Darktrace, a cybersecurity AI firm that listed in April, today said it expects revenue for the last financial year to have grown 40 per cent to $278m (£201m), upgrading its guidance for 2022. It now expects year over year revenue growth of between 29 per cent and 32 per cent (previously 27 per cent to [...]