‘Bond market tantrum risks’: Gilt traders brace for Labour leftward pivot as Starmer future uncertain
Imperial Brands: Profit up on back of ‘next generation’ tobacco alternatives May 16, 2023 Cigarette maker Imperial Brands reported a 27 per cent spike in operating profit on last year, while its foray into vaping and e-cigarettes also proved lucrative. The London-listed firm said it made £1.53bn operating profit in the six months ended 31 March, with revenue for its ‘next generation products’ offering an alternative to tobacco up [...]
Restart game? EU approves Microsoft’s $69bn Activision bid weeks after UK rejected deal May 15, 2023 Microsoft’s $68.7bn bid for Activision Blizzard has been approved by EU regulators today, just weeks after the UK’s competition agency blocked the deal. The EU decided to approve the deal after remedies were put in place to address competition concerns, with the European Commission saying Microsoft offered 10-year free licensing deals to customers. “These licenses [...]
Royal Mail delivery target failures to be investigated by Ofcom – and a fine could be dished out May 15, 2023 Regulator Ofcom said it has launched an investigation into Royal Mail’s failure to meet its delivery targets in the past year – and could hand out a fine. The British delivery firm fell short of its performance targets across the 2022 to 2023 financial year for first and second class mail and deliveries. Some 73.7 [...]
Starmer defends plans to give EU citizens and 16-year-olds the vote despite election ‘rigging’ claims May 15, 2023 Sir Keir Starmer has indicated it is “common sense” to allow EU nationals who have worked for years in the UK to vote in a general election, as Labour considers extending the franchise. The Opposition leader said it “feels wrong” that people who have contributed to Britain’s economy and raised their children in the country [...]
Morning in the City: Live news and updates May 15, 2023 Good morning and welcome to the City A.M. live blog!
Rail strikes this weekend: All you need to know – how will London be affected? May 12, 2023 Train services are being hit by more strike action this weekend, with London set to be hit by industrial action on routes to major airports and transport hubs. Members of Aslef and the Rail, Maritime and Transport union (RMT) at train operators will walk out in long-running disputes on Friday and Saturday respectively. Further strikes [...]
CBI: New boss Rain Newton Smith doesn’t take crisis-hit group’s future ‘for granted’ May 12, 2023 The new head of the crisis-hit CBI, Rain Newton Smith, has said she does not take the future of the group “for granted” and warned the task of winning back trust from businesses is “as big as it is urgent”. Newton Smith, who was parachuted in to head Britain’s biggest business group last month, made [...]
Morning in the City: Live news and updates as GDP up 0.1 per cent after rate rise May 12, 2023 Good morning and welcome to City A.M.’s live blog on Friday 12 May. We lead today with GDP figures from the Office for National Statistics, a day after the 12th straight rate rise.
Vodafone: New chief embarks on Emirati E& partnership, with board seats up for grabs May 11, 2023 Vodafone has announced a strategic relationship with e& – the Emirati telecommunications firm which currently holds 14.6 per cent of its shares. In the deal, E&’s chief executive will join the board and there are provisions included for another member its team team to take a seat should the Emirati firm’s shareholding go above 20 [...]
City of London Police bars former chief superintendent due to ‘gross misconduct’ May 10, 2023 City of London Police has barred a former top officer from serving again after allegations of “gross misconduct” were proven. The Square Mile’s force found former chief superintendent David Clark had breached the force’s standards of professional behaviour. Clark, who resigned in 2019, was found to have forwarded emails from his official email to a [...]
