Kwarteng: No grants to energy big boys to take on more customers September 24, 2021 GRANTS to larger energy firms to absorb new customers are “categorically” off the table, the business secretary told MPs yesterday. Speaking in the House of Commons, Kwasi Kwarteng said that there was an existing process to deal with customers of energy firms that collapsed, the supplier of last resort. When a firm fails, customers are [...]
Exclusive: Young professionals back the office over the living room September 9, 2021 London’s young professionals would rather work full time in an office than either permanently from home or in a “hybrid” arrangement, new data has found. According to new data from LinkedIn, shared exclusively with City A.M., 44 per cent of those aged 16 to 34 would choose to be in their actual offices for all [...]
UK Government borrows another £24.3bn in May as debt approaches 100 per cent of GDP June 22, 2021 The UK borrowed £24.3bn in May despite the gradual winding down of lockdown restrictions, according to the latest official estimates. The Office for National Statistics also confirmed this morning that the UK’s debt hit £2.19trn at the end of last month, representing around 99.2 per cent of GDP. Read more: Analysts warn Rishi Sunak: Treasury’s [...]
City institution 1 Lombard Street reopens after lockdown June 22, 2021 The Lord Mayor and the City’s Sheriff visited Square Mile institution 1 Lombard Street yesterday as it reopened after lockdown. Monday was due to be the first day without Covid-19 restrictions in the UK, but the so-called ‘freedom day’ was pushed back by four weeks. Read more: There are staycations – and then there’s the [...]
Barnet, Richmond and Ealing see house price spike as pandemic fuels outer London spree June 21, 2021 House prices are heading upwards right across the country – but some London boroughs are doing better than others. New data suggests outer London properties have benefitted from a spike in pandemic-era purchases, as inner London residents look for more space and existing suburban dwellers tire of the same four walls. Properties in Barnet and [...]
Mapped: London property prices in your (very) local area June 21, 2021 Ever wondered what property prices are doing in your neck of the woods? Perhaps borough by borough? What about street by street? A new tool allows you to see the average property price of homes sold in 2020 in your (very) local area. Read more: London property developer slapped with 14-year ban for £13m ‘ponzi’ [...]
Arise, Sir Antonio: Former Lloyds boss Horta-Osorio amongst business figures honoured June 12, 2021 Former Lloyds boss Antonio Horta-Osorio has picked up a knighthood in the Queen’s birthday honours. The Portuguese-born banker now chairs embattled Credit Suisse. Read more: The recovery is in full swing: UK set for best growth since Second World War He was handed the title in recognition of his service to financial services and to [...]
Hospitality shares slip amid freedom day delay speculation June 11, 2021 A host of hospitality firms saw share prices slide on the markets today as speculation grew that the next stage of the UK’s roadmap out of lockdown could be delayed. A sharp increase in the number of Brits testing positive for Covid-19 has raised the possibility that Government may move the mooted June 21 unlocking [...]
LA firm raises £450m to 3D-print rockets to help us live on Mars (really) June 9, 2021 Blackrock and actor Jared Leto are among investors in a $650m (£450m) capital raise by a Californian firm which plans to 3D-print rocket boosters that the founder claims are part of efforts to live on Mars. Relativity Space, founded by Tim Ellis – a former engineer at Jeff Bezos’ space firm Blue Origin – is [...]
Ascot partners up with insurance broker Howden June 7, 2021 Howden has partnered up with Royal Ascot as the insurance broker solidifies its relationship with the sport of King’s. The deal includes extensive on-course advertising for the festival, and will last for five years. This year’s Royal Ascot will be part of the Government’s trial events programme, with attendees able to eschew some of the [...]