Sleet hits London as Met Office warns rush hour commuters to expect snow April 3, 2019 Sleet hit London this afternoon as temperatures plunged to as low as 3C amid warnings of snow later this week. Read more: London weather warms up as spring banishes winter The City of London experienced chilly sleet and rain, while the Met Office told Londoners to expect cold weather and rain for the rest of [...]
AI startup Onfido tops $100m investment as it closes $50m funding round led by Softbank and Salesforce April 3, 2019 Digital identity startup Onfido today closed a $50m (£38m) funding round led by Softbank, bringing its total investment above $100m. Read more: London fintechs dominate startup programme as they bid to scale-up Salesforce Ventures also co-led the funding round with Softbank Investments (SBI), while Microsoft’s M12 fund and existing investors also contributed. London-headquartered Onfido will [...]
Flybe cancels dozens of UK flights as it apologises to passengers April 3, 2019 Flybe has cancelled dozens of flights this morning, blaming a mix of operational issues including a shortage of pilots and staff holidays. Read more: Flybe shareholders approve airline sale to Virgin-led Connect Airways Planes due to leave Southampton, Newcastle, Aberdeen and Edinburgh were impacted, as well as five flights from Belfast City Airport and four [...]
Tory whip quits as Theresa May begins Brexit talks with ‘Marxist’ Corbyn April 3, 2019 A Tory has resigned the whip this morning after Theresa May committed to working with Labour leader Jeremy Corbyn to deliver Brexit. Read more: Pound rises on May-Corbyn Brexit talks MP Nigel Adams has quit his position in the government’s Whips Office, accusing May of being on course to failing to deliver Brexit and failing [...]
MPs cast doubt over Crossrail 2020 opening aim as they warn Elizabeth Line may need more than £2.8bn bailout April 3, 2019 MPs are “not convinced” that Crossrail will open in 2020 and fear the project will need more than the extra £2.8bn in funding it received to stay afloat, according to a damning report released today. Spending watchdog the Public Accounts Committee (PAC) said the costs of the railway, also known as the Elizabeth Line, had [...]
Carlos Ghosn tweets he is ‘ready to tell the truth’ in first public appearance since facing financial misconduct charges April 3, 2019 Ousted Nissan boss Carlos Ghosn has taken to Twitter to vow he will “tell the truth” at a news conference next week ahead of trial on charges of financial misconduct. Read more: Ghosn lawyers request separate trial from Nissan Ghosn will address the media in his first news conference since being released on a $9m (£6.8m) [...]
City Moves for 2 April – who’s moving jobs at Powell Gilbert, Stobart and Ashurst? April 2, 2019 Here are all the City Moves happening today: Powell Gilbert Specialist IP law firm Powell Gilbert LLP has promoted Siddharth Kusumakar to its partnership, increasing the total number of partners at the firm to ten. Since joining Powell Gilbert in 2012, Siddharth has advised clients across a variety of technologies, with a focus on multi-jurisdictional [...]
Julian Dunkerton wins narrow shareholder vote to return to board of Superdry April 2, 2019 Superdry’s co-founder has won an audacious bid to reinstall himself onto the troubled retailer’s board this morning, throwing the future of the group’s directors into doubt. Investors have voted by a narrow majority of 50.75 per cent to allow Julian Dunkerton to return to the company following a long and bitter public battle with the firm’s [...]
London, meet your next skyscraper: Square Mile viewing attraction The Tulip wins planning approval April 2, 2019 A dramatic new tower known as The Tulip is set to join the City’s skyline after it was given the green light by planners in the Square Mile this afternoon. The 1,000 foot skyscraper, which has won approval from the City of London's planning committee by 18 votes to seven, will be built next to the Gherkin [...]
Bonmarche shares drop as billionaire Philip Day snaps up retailer in cut-price deal April 2, 2019 Edinburgh Woollen Mill Group owner Philip Day is set to take struggling retailer Bonmarche private in a deal that values the firm at just £5.7m. Bonmarche has been plagued by profit warnings, issuing its third in late March when it told investors to expect up to a £6m loss due to “significantly weaker” March trading. [...]
