City Moves: Who’s switching jobs in the Square Mile this week? May 19, 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. Ex Co-op CEO joins Boomin’s board Property site Boomin has bagged itself a retail veteran this week, who is set to join the board as a non-executive director at its next [...]
Dunelm sales better than expected thanks to lockdown living space upgrades May 19, 2021 Homeware’s retailer Dunelm enjoyed a better-than-expected sales lift over the tail end of the UK’s third national lockdown, the group said today, despite only being able to trade for five weeks after the 12 April easing of restrictions. Customers were able to flock to stores in mid-April after a winter lockdown, despite the reduced trading [...]
Future’s revenue surges 89 per cent with eCommerce and media lockdown boost May 19, 2021 Specialist media platform Future saw its revenue surge 89 per cent in the six months to 31 March, following growth in its eCommerce and media divisions amid global lockdowns. The group, which bought Marie Claire US earlier this month and the UK edition last year, saw its revenue lift to £272.6m from 144.3m in the [...]
UK tech industry grows tenfold in last decade as London leads Europe May 19, 2021 The UK tech industry has expanded tenfold over the last 10 years as London continues to close the gap on Silicon Valley. Between 2010 and 2020 the number of British unicorns — private tech firms valued at more than $1bn — grew from eight to 81, while the number of companies nearing unicorn status also [...]
$1.1bn EU pre-owned private jet market rebounded in the UK in 2020 May 18, 2021 The UK’s wealthiest bought 14 pre-owned private jets last year, worth $118.2m in total, nearly triple the number in 2019 due to pandemic travel restrictions, according to private jet broker Colibri Aircraft. The UK’s rebounding figure was because the pandemic grounded flights across the world, a spokesperson told City A.M. “There’s one client who said [...]
Shell’s shareholders vote for its climate strategy, despite growing support for its activist rival May 18, 2021 Energy giant Shell saw its shareholders overwhelmingly support the company’s energy transition strategy today, despite growing backing for a second climate resolution filed by an activist group. An advisory vote on its climate strategy, which meant it was a non-binding resolution, won 88.74 per cent shareholder support at its annual general meeting (AGM) today. The [...]
Net Zero: New oil, gas and coal development must end this year, IEA says May 18, 2021 New oil and gas field development and extraction must end this year, while no new coal-fired power stations can be built if the Earth is to stay within safe limits of global warming, the world’s leading energy organisation has said today. Halting developments is fundamental to meeting the net-zero emissions goal by 2050, to keep [...]
City of London celebrates the return of indoor hospitality and culture as Government continues to ease lockdown restrictions May 18, 2021 | City Talk The City of London Corporation has today (17 May) announced a further series of events to mark the reopening of its indoor hospitality, cultural and heritage institutions based across the Square Mile. As the Government’s roadmap to ease lockdown restrictions in England reaches its third step, Lord Mayor of London William Russell and Policy Chair of the [...]
Land Securities losses widen with work-from-home measures May 18, 2021 Commercial property firm Land Securities has seen its full-year loss widened this morning, as its London-centric office portfolio crumbled under work-from-home measures. The FTSE 100 firm has reported a loss before tax of £1.39bn for the 12 months ending 31 March, compared with a loss of £837m the year before. The pandemic pushed many companies [...]
London e-scooter trial to launch in the City next month May 18, 2021 London’s trial of rental e-scooters will begin next month, it has been confirmed, with the City and Canary Wharf among the first areas to test the transport system. The financial hubs have been tapped alongside a core group of boroughs to take part in the trial, which will begin on Monday 7 June. More areas [...]