No light at end of the tunnel: HS2 delay leading to higher costs as London Euston link nearing £5bn March 27, 2023 Delays linking up HS2 and Euston will mean extra costs and potentially even higher spending, the National Audit Office has warned ministers. A near 50-page report, looking specifically at the Euston element of the much delayed high-speed line, concluded that a “reset” in 2020 had “not succeeded”. It comes after Transport Secretary was criticised earlier [...]
Belvoir weathered mini budget interest rate storm with small dip in profit March 27, 2023 Belvoir reported a small dip in pre-tax profit this morning as its chief cited a “general pressure on interest rates” from the mini-budget for its results. For the year, the London-listed property firm reported pre-tax profits dip two per cent to £9.1m from £9.3m, saying the budget from Liz Truss shook the market. The Lincolnshire headquartered [...]
Firms face £300m paperwork bill in proposal to help save cash through business rates March 27, 2023 Businesses across England could be saddled with bills for around £150 a year under new Government proposals intended to help them with their tax. A requirement for businesses to update the Government annually could cost a total of around £300 million a year, analysis by Gerald Eve, a real-estate advisory company, has found. The estimate [...]
Don’t want to be an American Idiot: How the UK can make the most of ‘Green Day’ as energy arms race hots up March 27, 2023 City A.M. has offered its own six point plan for Green Day to keep the UK competitive with its rivals in the clean energy arms race.
It’s all about quality: Fixing the Square Mile’s shopping district March 27, 2023 As Oxford Street struggles to fill vacant spaces on its high street, many in the retail sector are also questioning what the future holds for the Square Mile’s shopping scene. At One New Change, the City’s prime shopping centre, which was launched in 2010 to rival London’s West End, there are about 10 vacant lots, [...]
Floating offshore wind could offer £26bn boost to green economy March 27, 2023 Floating offshore wind gives the UK a chance to make the most of the green energy transition, argued industry body Renewable UK.
New $150m fund set to invest in ‘high-impact’ firms across food and healthcare March 27, 2023 Milltrust International is set to launch a new $150m fund focusing on ‘Sustainable Prosperity’ as it seeks to scale up health, food and sustainability companies in the UK and around the world. The British Innovation Fund II will target “high-impact, early stage companies” with links to the UK’s university sector. Sustainable prosperity is the idea [...]
FTSE firms writing ‘ethical codes’ in droves – but few actually using them, report finds March 27, 2023 More FTSE firms than ever before have codes of ethics in place but few are using them to guide day-to-day decision making, a new corporate non-profit report has warned. Research by the Institute of Business Ethics (IBE) found 88 per cent of FTSE 100 companies have now adopted a code of ethics, City A.M. can [...]
City marks 50th anniversary of first female traders on floor of the London Stock Exchange March 27, 2023 Two “trading floor trailblazers” opened the London Stock Exchange to mark the 50th anniversary since the first women traders were admitted into the historic marketplace. Susan Shaw and Hilary Pearson, who began working on 26 March 1973, were among the first female stockbrokers in the London Stock Exchange Group (LSEG) . They opened the day’s [...]
UK recession still on the cards after aggressive Bank of England interest rate hikes March 27, 2023 A recession is still on the cards in the UK despite the economy performing much better than experts predicted just a few months ago, new forecasts out today project. Higher interest rates and households responding to the cost of living crunch gripping their finances by trimming spending is tipped to push GDP 0.3 per cent [...]
