Blitz spirit may be overdone but there’s a lesson in taking quick action August 23, 2023 The worst fire in the City’s history was not, in fact, the Great Fire of 1666. It came on a Sunday night in December 1940, when seemingly half of the City was blitzed into oblivion. The other half took its punishment on other nights in that terrible few months. Amongst the many indignities suffered by [...]
Fivefold jump in freight train cancellations threatens to derail firms’ green logistics plans August 23, 2023 A fivefold increase in the number of freight train cancellations threatens undermining a number of firms’ recent decisions to start transporting goods by rail in a bid to reduce their carbon footprints. Freight cancellations between the financial years 2021/22 and 2022/23 rose from 2,492 to 12,708, according to data from a Freedom of Information request [...]
Most challenger banks admit to only ‘occasional’ sanctions screening August 23, 2023 More than half of challenger banks have admitted to only performing occasional sanctions checks, according to a recent survey. Only a quarter of the challenger banks it surveyed said they always perform the appropriate screening processes. A total of 54 per cent of challenger banks admitted to performing checks regarding sanctions or politically exposed persons [...]
PwC UK profit drops against backdrop of ‘political and economic upheaval’ August 23, 2023 PwC UK reported a drop in annual profit against what it said was “a backdrop of political and economic upheaval”. The Big Four firm revealed its total group consolidated profit fell to £1.3bn for the financial year to 30 June, down from £1.5bn last year. It said, however, the previous year included a “one-off gain” [...]
A gig in five years: An immersive dream or virtual insanity? August 23, 2023 The pandemic is over and live music is back. But as the music industry cheers the return of gigs, a number of tech companies are hoping to radically change the way we consume live events in the future.
Keep dreaming if you think Brexit is the reason craft beer breweries are going bust August 23, 2023 Microbreweries never stood a chance in an over-saturated market of craft beer - it's not the fault of Brexit, writes Paul Ormerod.
London’s rental market is broken – but one solution is hiding in plain sight August 23, 2023 London rents are sky-high and supply is falling further as buy-to-let properties disappear from the market.
XTX Markets billionaire founder almost doubles his wealth in a year August 22, 2023 Alex Gerko, founder of XTX Markets, has nearly doubled his net worth in just one year, according to the latest Bloomberg Billionaires Index. The 43-year-old, who launched the London-based proprietary trading and market-making business in 2015, is now worth £8.5bn following a bumper year for the business. In June, it was reported that revenue from [...]
EP: 224 York Ebor Festival – Thursday August 22, 2023 Day two of the York Ebor Festival on Thursday is Ladies Day and the Group 1 mile and a half Yorkshire Oaks is the highlight of the afternoon’s action. York Racecourse Chief Executive, William Derby tells us all about Ladies Day on the Knavesmire. City AM Racing editor Bill Esdaile previews the best of Thursday’s [...]
Why mining stocks have rebounded despite BHP’s profit slump August 22, 2023 China's gloomy economic data has chipped away at the share prices of the world's largest miners for months. But is a recovery underway?
