NMC Health ousts chief executive after it admits financial discrepancies February 26, 2020 Troubled healthcare business NMC Health today said it had removed its chief executive with immediate effect and delayed its financial results. In December, shortseller Muddy Waters said it had placed a bet against the company and questioned its financial statement and accounting policies. Following close of trading today, NMC said that an ongoing review had [...]
Grenfell inquiry: Oral evidence won’t be used to prosecute cladding staff February 26, 2020 Cladding companies have been given assurances that their oral submissions to the Grenfell Tower Inquiry will not be used to prosecute them for any role in the blaze. Attorney general Suella Braverman announced today that she had made the decision, after staff from companies involved requested that they be protected. Phase two of the inquiry [...]
St Mary Axe set to be closed to cars in peak times for trial period February 26, 2020 The City’s St Mary Axe is set to be pedestrianised at peak times for a trial period as the Square Mile moves closer to a future with less cars on the roads. The City of London Corporation has moved plans forward to close the street to cars for most of the work day for a [...]
Crossrail 2 should be funded this year, says government adviser February 26, 2020 Crossrail 2 should be one of Boris Johnson’s top infrastructure priorities and get a funding commitment this year, according to a key government infrastructure adviser. The National Infrastructure Commission released its annual report today, saying the £41bn north-south train line should immediately get the go ahead. The project is under a cloud of uncertainty due [...]
Crossrail reviews safety procedures after a string of ‘near misses’ February 25, 2020 Crossrail has conducted a review of its safety assessment measures, after a spate of incidents where construction workers almost seriously injured. City A.M. exclusively reported in December that “high risk incidents” in the construction of the £18.25bn train line doubled last year. These incidents, known as as high potential near misses, “could have resulted in [...]
Fuming: Foreign Office names and shames embassies for unpaid congestion charges February 25, 2020 Transport for London (TfL) is owed more than £116m of unpaid congestion charges by diplomatic officials, with the US embassy leading the way. The Foreign and Commonwealth Office released the figures today, showing that the US embassy had accumulated a total of 102,225 unpaid congestion charges, which adds up to £12.44m in lost revenue for [...]
The TfL junk food ad ban was clearly a recipe for failure February 25, 2020 Today marks a year since Transport for London (TfL) introduced a ban on junk food advertising anywhere on its network. But what impact has it had? And what are the lessons for London’s policymakers? One year on, there is little evidence that the ban has achieved much beyond generating a few headlines. In fact, it [...]
Sadiq Khan budget: Uncertainty over Met’s special operations funding February 24, 2020 Sadiq Khan will spend an extra £227.6m on the Metropolitan Police in 2020-21, however its specialist operations branch may face future funding uncertainty. Khan’s £18.5bn 2020-21 budget was approved by the London Assembly today. He plans to increase day-to-day spending for the The Mayor’s Office for Policing And Crime (MOPAC) to £3.89bn, which includes funding [...]
Sadiq Khan’s budget lays out path for East Bank development February 24, 2020 City Hall yesterday confirmed its plans to spend £437.5m over the next five years to fund a new culture and education hub across the Stratford waterfront. The £1.1bn East Bank development will be the home of a new Sadler’s Wells theatre, BBC music studios, a new Victoria and Albert Museum museum and campuses for University [...]
Culture complements commerce, so let’s celebrate the City’s thriving artistic scene February 24, 2020 As lord mayor of the City of London, my role is primarily business-focused. But I am also passionate about arts and culture, and with so much of it on our doorstep, Londoners are truly fortunate. In fact, championing culture is a key part of my mayoral theme. And to underline its importance, I am looking [...]