Vauxhall owner Stellantis boosts full year guidance after roaring off the line August 3, 2021 Stellantis charged out of the blocks in its first ever half year results, boosting its full year profit margin guidance despite the current semiconductor shortage. The car giant, which formed from the merger of Fiat Chrysler and Peugeot owner PSA in January, posted revenue of €8.6bn for the first half, smashing analyst predictions of €5.9bn. [...]
City giants plotting to buy Asian fossil fuel plants in order to shut them August 3, 2021 A group of financial firms have come together to speed the closure of Asia’s fossil fuel power plants, the world’s largest source of carbon emissions. Under the proposals, HSBC, Citi, Prudential and Blackrock Real Assets, together with the Asian Development Bank, will form private-public partnerships to buy out the plants. They will then work to [...]
Shapps ‘under fire for amber watch list plan’ August 3, 2021 Grant Shapps is under fire today after reports that it was the transport secretary who first came up with the government’s now-axed “amber watch list” travel plan. Under the “amber watch list” category, countries on the “amber list” could be designated as being at risk of moving to the “red list” at short notice. Holidaymakers [...]
Boris Johnson ‘kills amber watch list travel plan’ August 2, 2021 Boris Johnson has quashed the idea of instating a new “amber watch list” for foreign travel after fears of the devastating impact it could have on people’s summer holiday plans. According to multiple reports this evening the Prime Minister has elected to bin the proposal, which triggered outrage on the Tory backbenches. The reports came [...]
Credit Suisse mulls hiking junior staff salaries to $100,000 August 2, 2021 Credit Suisse has reportedly become the latest banking giant to hike junior staff salaries to $100,000 amid growing competition for fresh talent. According to Financial News, the lender will pay first year analysts $100,000 a year, with salaries to rise to $105,000 and $110,000 over the next two years. City A.M. understands that the hike, [...]
FTSE 100 engineer Smiths to sell medical division for $2.3bn August 2, 2021 British engineering giant Smiths this evening announced that it would sell its medical division to US private equity firm TA Associates for $2.3bn (£1.7bn). Under the deal, the FTSE 100 firm could be in line for a $200m windfall depending on how Smiths Medical performs in the future. The acquisition is just the latest in [...]
FTSE 100 gets week off to a strong start as Covid cases fall again August 2, 2021 The FTSE 100 rose 0.7 per cent today as UK Covid-19 cases continued to decline, in what was a strong start to the week for global markets. Buoyed by a raft of heavyweights, London’s premier index closed at 7,081.72, with the 7,100 barrier firmly in its sights. It was an even better day for the [...]
‘Green’ status should be default for most of world, say BA and Easyjet bosses August 2, 2021 The UK’s airline industry has called for more countries to be added to the “green list” for travel this week, and it should be the “default” for most places. Transport secretary Grant Shapps is due to update the current traffic light system for international travel later this week. In a letter to Shapps signed by [...]
Medical cannabis company confirms £45m London SPAC listing August 2, 2021 Medical cannabis firm Hellenic Dynamics has confirmed that it will go public in London through a SPAC deal valuing the company at £45.2m. Through its reverse takeover deal with blank cheque vehicle UK SPAC Plc, the company will list on the LSE’s main market. Today’s announcement comes after City A.M. earlier this year revealed that [...]
Cazoo sees revenue grow sevenfold as New York listing nears August 2, 2021 Used car firm Cazoo today reported a second straight quarter of whopping revenue growth as it continued its rapid expansion. The company said that revenues had jumped sevenfold, from £20m in the second quarter last year, to £141m today. It sold 10,692 cars in the period, five times as many as the 2,022 it shifted [...]
