Tiktok sues Donald Trump over executive order banning video app August 24, 2020 Tiktok and parent company Bytedance have today sued US President Donald Trump over his decision to sign an executive order banning the short-form video app. In a blog post earlier today, the firm said that it had been left with “no choice” but to sue the president, adding that it strongly disagreed with the White [...]
Moderna set to provide EU with 80m doses of coronavirus vaccine August 24, 2020 US drugs firm Moderna today announced that it had concluded initial talks with the European Union to supply 80m doses of its potential coronavirus vaccine. Under the potential purchase agreement, the EU will have the option to acquire an additional 80m doses of the treatment, for a total of up to 160m doses. A phase [...]
PwC resigns as auditor of gold miner Petropavlovsk on governance concerns August 24, 2020 PwC has resigned as the auditor of under-fire gold miner Petropavlovsk due to concerns over the firm’s corporate governance after a long-running boardroom battle. The FTSE 250 miner today confirmed that the Big Four accountant had turned down its appointment as Petropavlovsk’s auditor. According to the Russia-focused company, PwC cited “the recent significant changes in [...]
Virgin Atlantic unveils coronavirus insurance package on eve of crunch bailout vote August 24, 2020 Virgin Atlantic has today unveiled a comprehensive new coronavirus insurance package for all new and existing bookings up until the end of March next year. The new offer was revealed on the eve of a crunch High Court vote on a £1.2bn bailout package that could keep the carrier flying if it is approved. The [...]
Italy begins coronavirus vaccine trials as WHO chief urges global cooperation August 24, 2020 Italy has become the latest country to begin testing a potential coronavirus vaccine on human candidates, it was announced today, as cases of the new disease continue to rise again in Europe. The trial begins as the World Health Organization (WHO) urged countries around the world to come together to ensure that all nations get [...]
Balfour Beatty joint venture secures £1.3bn Hong Kong airport deal August 24, 2020 Construction firm Balfour Beatty this morning announced that its south-east Asia joint venture has won a HK$12.9bn (£1.27bn) contract to expand Hong Kong International Airport’s Terminal 2. Under the four-year deal, Gammon, of which the FTSE 250 company owns 50 per cent, will increase the size of the main terminal building and construct the surrounding [...]
Exclusive: Consumer goods firm Ultimate Products to repay furlough scheme wages August 24, 2020 Consumer goods firm Ultimate Products will repay all the money that it has claimed through the government’s job retention furlough scheme after outperforming expectations despite the coronavirus pandemic. City A.M. can reveal that the London-listed firm is set to give back the £465,237 it was given to keep staff on over the lockdown period, and [...]
High demand for prime property leads market rebound August 24, 2020 High demand for so-called prime property has led the UK housing market’s post-lockdown rebound, new data from estate agents Knight Frank revealed today. Since markets reopened in mid-May, the UK market has surged back at a surprisingly swift pace due to the release of a tide of pent-up demand. According to the research, the biggest [...]
The City View: Moneypenny CEO on why it’s time to come out of hiding and find some confidence August 24, 2020 In this episode Christian talks to Joanna Swash, chief executive of the customer services and office support provider Moneypenny, which has 20,000 corporate clients in the UK and US. Subscribe to The City View Podcast: Apple / Google / Spotify / RSS Joanna talks about the impact of the early stages of lockdown on her company and explains how she transitioned 1,000 [...]
Four-fifths of Londoners want to get back to the office August 23, 2020 More than four-fifths of Londoners want to get back to working from the office, the highest such proportion in the UK, City A.M. can reveal. According to new statistics from IT provider Atlas Cloud, residents of the capital are the keenest in the country to get back to office life, above an average of 74 [...]
