Fintech firm Wise to directly list on the London Stock Exchange in early July June 24, 2021 Fintech firm Wise has confirmed it will float on the London Stock Exchange with a direct listing, it said in a statement this morning. The payments group, formerly known as Transferwise, had previously made an announcement on 17 June of its expected intention to float. “Since announcing our expected intention to float last week, [...]
KPMG told to expect £250m claim for Carillion collapse June 23, 2021 Accounting giant KPMG is expected to be told to pay £250m for its role in the collapse of outsourcing firm Carillion, its former client, in 2018. On behalf of the Insolvency Service, lawyers have warned KPMG to expect a claim. The expected move is part of an effort to reclaim funds that will be used [...]
City Moves: Who’s switching jobs in the Square Mile this week? June 23, 2021 City A.M.‘s Millie Turner provides a roundup of the most important hires and job moves across the City, every Wednesday afternoon. Email citymoves@cityam.com to be featured. Barclays Corporate Banking appoints new head of real estate Barclays has appointed a new head of real estate for corporate banking this week, following the retirement of the former-lead. Jason Constable, [...]
Square Mile offices and homes to be warmed with heat from over 650ft below its streets June 23, 2021 In a bid to make London’s Square Mile more sustainable, its homes and offices will be warmed by drawing heat from over 650ft below the streets of the City. As one of the largest low-carbon heating systems in the UK, which forms part of a £4m scheme, the system will produce the same amount of [...]
London launches England’s first hydrogen-powered double decker buses June 23, 2021 Transport for London (TFL) will today add 20 new environmentally friendly hydrogen double decker buses to its fleet. Launched by London mayor Sadiq Khan in Ealing, the buses will provide commuters with smoother, quieter journeys thanks to less vibrations. Free-to-use USB charging ports will also be available onboard. They will join more than 500 electric [...]
Londoners avoid the office but visit parks en masse June 22, 2021 Visits to London’s central parks are back up to pre-pandemic levels but weekday commutes are far less popular, according to new data. Footfall in Regent’s Park has returned to 100 per cent of pre-pandemic levels, while Hyde park has seen 80 to 99 per cent of normal levels, according to provisional figures gathered by City [...]
Google Campus closes in the end of an era for London tech startups June 22, 2021 Google has decided not to reopen its London campus for startups, which formed part of the capital’s mini–Silicon Valley, saying it will offer services online. The coronavirus pandemic and working from home has likely swayed the decision to shut the seven-storey East London campus. “This shift demonstrated that, similar to the support we provide in [...]
London hedge fund White Square Capital shuts after swallowing lofty GameStop losses June 22, 2021 London-based hedge fund White Square Capital will close its doors today, according to reports, following its lofty losses in GameStop’s first ‘meme stock’ rally in January. White Square bet against the US retailer GameStop, the Financial Times first reported today, which led to a percentage loss hitting double-digits at the beginning of an already tough [...]
The vaccine race is on: London borough winners and losers June 21, 2021 Richmond currently wears the crown as the London borough that has vaccinated the highest proportion of its adult population, according to the latest NHS data. The south west London borough has vaccinated 132,627 of its residents with a first dose – 85 per cent of its 156,399 population over the age of 16. Richmond also [...]
Deplatformed: Vodafone customers seethe after it ditches free wifi deal on Tube June 21, 2021 Out of service: Vodafone customers seethe after it ditches free wifi deal on Tube