LSE defends itself against criticism over tech firm valuations TECH VALUATIONS The London Stock Exchange has defended itself after criticism that it was “toxic to tech companies” by an investor in Darktrace and Deliveroo. Neil Shah, the LSE’s tech sector specialist, told The Telegraph that there were “lots of good companies achieving robust valuations in London”. Many of the tech firms that have gone public in [...]
Tower Hamlets campaigners welcome u-turn on proposed skyscraper with single fire escape FIRE SAFETY CONCERNS Developer Ballymore has decided to delay plans for a 51-storey skyscraper with just one fire escape, after concerns from the London Fire Brigade. Campaigners had expressed outrage at the plans, which were due to go before the Tower Hamlets’ planning committee on Thursday. The Cuba Street tower was set to have 655 rooms and tower [...]
Pubs lament ‘dreadfully disappointing December’ but toast rebounding January sales BAH HUMBUG Pubs and restaurants were knocked back by low trade over the Christmas period, although rebounding sales in recent days have offered a ray of hope for the beleaguered sector. Sales in pubs, restaurants and bars were down 60 per cent on Christmas Day on pre-Covid levels, according to data from UKHospitality and CGA. Transactions were [...]
London home to £41bn empty properties despite soaring buyer demand January 13, 2022 Some £41bn worth of empty homes are sitting vacant across the London market despite increased buyer demand. An estimated £200bn worth of homes are vacant across Britain, a 2.1 per cent increase on the previous alone. Estate agents Barrows and Forrester analysed government data to reveal that London is home to 80,295 empty properties with [...]
Nightcap eyes portfolio expansion as CEO ‘proves critics wrong’ after pandemic-launch January 12, 2022 Bar operator Nightcap hit £15.5m in net sales during its first full year of trading, as it lines up 25 new site openings this year. Boss Sarah Willingham, whose group owns Tonight Josephine and the London Cocktail Club, told CityA.M. she had “never been prouder” to work in hospitality than during the pandemic. The company [...]
Ovo Energy to axe a quarter of workforce amid energy crisis January 12, 2022 Ovo Energy, one of the country’s largest energy suppliers, is set to slash a quarter of its workforce. According to a report by Sky News, the firm will restructure in a bid to cut costs, with around 1,700 jobs out of 6,200 at risk. The firm is expected to announce a voluntary redundancy programme as [...]
DAZN close to finalising BT Sport takeover in $800m deal January 12, 2022 Sports streaming service DAZN is edging closer to finalising a deal to snap up BT Sport in an $800m deal. Bosses are preparing to ink a deal as soon as this month, four sources familiar with the matter told the Reuters news agency. The acquisition would give DAZN access to the highly-desired rights English Premier [...]
Recruitment titan PageGroup hiked profit guidance after hiring spree January 12, 2022 Recruitment firm PageGroup upgraded its profit guidance for the fourth time in seven months as a hiring frenzy continues. Labour shortages in key markets have helped the group, which posted a gross profit of £246.8m for the three months to December, rising from a £166m gross profit in the same period last year. The firm [...]
Pret A Manger boosts pay for staff in £9.2m investment January 12, 2022 Sandwich chain Pret A Manger has hiked pay for staff to above £10 an hour, in what it has called its biggest ever pay increase. In a £9.2m investment, some 8,000 staff members in the UK are set to see pay increase from a baseline of £9.40-9.56, to up to £10.15 per hour. Baristas will [...]
London beats Cornwall to be most desired location for buyers January 12, 2022 London was 2021’s most searched for destination by potential buyers, property site Rightmove has shared. The capital beat Cornwall, which had piqued buyers’ interests earlier in the year. However, a desire to escape to the countryside was clear in the difference in total number of searches between London and Cornwall. The difference was just three [...]
