The government has confirmed the dates of the Witney and Batley and Spen by-elections September 15, 2016 The government has confirmed that the by-elections to replace David Cameron and Jo Cox will both take place on the same day. Today it said the by-elections in Witney and Batley and Spen will both take place on 20 October this year. The by-election in Witney was triggered by former Prime Minister David Cameron announcing on Monday [...]
Bankers went bonkers for bonuses last year – but payments across the economy hit a record level September 15, 2016 UK employers went on a bonus frenzy last year, as payments hit a record £44.3bn – finally beating the pre-recession record set in 2008. Naturally, the finance sector was the biggest contributor. Bonus payments in the financial year ending 2016 were six per cent of total pay, the Office for National Statistics (ONS) said today – that's [...]
A tale of two retail sectors: Shares in fashion retailers fall as supermarkets jump September 15, 2016 It was the best of times, it was the worst of times in the retail sector today, as shares in retailers led both the risers and the fallers in the FTSE 100. Firmly in the spring of hope was the supermarket sector, where Morrisons led the risers, with shares jumping 7.13 per cent to 207.4p in [...]
Knowingly undersold? John Lewis profits fall 15 per cent – but not because of Brexit September 15, 2016 You know things are bad when the chattering classes stop spending: today John Lewis admitted things had gone downhill in the first half as market conditions worsened. The figures Profit before tax and exceptional items fell 14.7 per cent to £81.9m in the six months to the end of July, despite a 3.1 per cent rise in gross sales, to £5.27bn. Although [...]
Oh my god, I can’t believe it: Spotify has 40m paid subscribers, its founder said today September 14, 2016 It seems Spotify founder Daniel Ek has taken a leaf out of Elon Musk's book: the Tesla tycoon is fond of using Twitter to make market-moving musings. And today Ek did just that: 40 is the new 30.Million. 😄 — Daniel Ek (@eldsjal) September 14, 2016 He was, of course, referring to the number of paid [...]
Everyone go home: Gmail for Work is down, with outages reported across the UK September 14, 2016 It's 5pm on one of the hottest days of the year – so Google has helpfully made sure you have to go home, with users reporting outages on Gmail for Work. Down Detector showed a spike in reports of outages, with a live map showing problems across the East and West coasts of the US, as well [...]
It turns out the location of craft breweries can predict London’s next house price hotspot September 14, 2016 Craft beer may be a hipster phenomenon, but it's worth paying attention to – if only for the fact it may be able to predict where the capital's next area of house price growth may be. A study by EasyProperty has found prices in the areas around London's 50 "boutique" breweries have bucked the post-Brexit [...]
Wage growth has fallen – but employment has hit its highest since records began September 14, 2016 Wage growth edged down in the three months to the end of July, official figures today suggested – but there was a silver lining, as the number of people in employment hit its highest since records began in the early 1970s. The figures, from the Office for National Statistics (ONS), showed average weekly earnings including bonuses increased [...]
City A.M. Unregulated podcast: Small tweaks, big gains – How Nudge theory is changing the world September 14, 2016 Nudge theory, or the theory of marginal gains, is cited as a game-changer by everyone from FTSE 100 chief executives to gold medal-wining Olympians. This week the team is joined by Kate Glazebrook, from the Behavioural Insights Team (the company formerly known as the government's "Nudge Unit"), and Keith Hatter from K2, who explain how incremental tweaks to [...]
In pictures: Check out James Dyson’s new £250m answer to the Googleplex September 14, 2016 Google may have its Googleplex and Apple may shortly have its Doughnut – but now one of the UK's most innovative companies has launched its new, £250m version. And it's very shiny. Dyson's £250m, 56 acre technology campus in Malmesbury was officially completed today, the company said. Designed by James Dyson (latterly of the Leave campaign) and Chris Wilkinson over the [...]
