Investors sue Hargreaves Lansdown over losses linked to Neil Woodford collapse March 22, 2021 Investors who lost money when Neil Woodford’s flagship fund collapsed are suing financial adviser Hargreaves Lansdown and corporate director Link in a bid to recoup their savings. The legal action, led by RGL Management, will centre around losses sustained directly as a result of the failure of the Woodford Equity Income Fund in 2019. It [...]
Deliveroo targets £9bn market cap in London listing as food order values more than double March 22, 2021 Deliveroo is targeting a market capitalisation of almost £9bn through its upcoming public listing, the food ordering app announced this morning as it revealed transaction values had more than doubled at the beginning of the year. The firm this morning unveiled further plans for its London initial public offering (IPO), setting the price range for [...]
Sir Richard Branson-backed air quality tech firm raises $3m to expand in UK March 22, 2021 Airly, the air quality tech firm backed by Sir Richard Branson, has raised $3.3m in a funding round to expand its platform globally. The company, which provides AI-driven insights on air pollution, is planning to open offices in the UK and the US and double its staff count. It currently counts Philips, Virgin, Innogy, PwC, [...]
City workers prepare to head back to offices in just eight days time March 21, 2021 Workers are getting ready to head back to the City of London in just over a weeks’ time as the government’s “stay at home” order is relaxed. Investment banks are leading the return to work, with staff set to return to the Square Mile for the first time in months. Goldman Sachs, JP Morgan and [...]
Grant Thornton caught up in conflict of interest accusations over Greensill Capital appointment March 21, 2021 Grant Thornton is facing accusations of a conflict of interest connected to its role as administrator of Greensill Capital, after it emerged the auditor had previously advised the firm’s biggest debtor Sanjeev Gupta on a string of deals. Grant Thornton was appointed as Greensill’s administrator on Monday after the finance firm collapsed when Credit Suisse [...]
London Capital & Finance savers left in the dark about compensation after losing millions March 21, 2021 Savers who lost millions of pounds when mini-bond investment firm London Capital & Finance (LCF) fell into administration in 2019 are facing a longer wait for compensation after the City minister refused to confirm when the aid scheme will launch. LCF collapsed in January 2019, impacting over 11,000 people who invested around £237m in the [...]
Demand for suburban offices soars as businesses move towards ‘hybrid’ working March 19, 2021 Demand for offices in suburban areas has soared since the coronavirus crisis hit the UK, as businesses seek to move out of city centres to cater to new ways of working that have emerged during the pandemic. Research published today showed that there has been a 32 per cent rise in demand for suburban office [...]
Last orders: 21 pubs closed every day during coronavirus pandemic March 19, 2021 Almost 21 pubs and bars have closed each day since the first coronavirus lockdown was imposed last year, according to figures published today. Britain has 7,592 fewer licensed premises than it did before the Covid-19 pandemic struck, with independent pubs and bars hit the hardest by the restrictions on trading. Closures accelerated in January and [...]
Exclusive: Daily Mirror publisher Reach to close a London office and make most staff permanent home workers March 19, 2021 Newspaper publisher Reach, which owns the Mirror and Express as well as a number of regional titles, is planning to close offices and make most of its employees permanent home workers. The company will close its Lower Thames Street office in central London and reduce its office space in Canary Wharf from two floors to [...]
Nike scores revenue jump as China and online sales offset US and Europe store closures March 18, 2021 Sportswear giant Nike reported a jump in revenue in the third quarter, despite the impact of coronavirus restrictions on trading in the US and Europe, driven by soaring growth in China and online sales. The US company said this evening that reported revenues were $10.4bn in the three months ended 28 February, up three per [...]
