Tube network thrown into chaos as rail strike continues December 16, 2022 London’s tube network has been thrown into chaos with significant delays and disruption as a result of the rail strikes. Members of the union RMT working at Network Rail and 14 other operators will walk out today and tomorrow as part of a long-standing dispute over jobs and salaries. They will be joined by platform [...]
Argo Blockchain gets Nasdaq notification for minimum bid price deficiency  December 16, 2022 Cryptocurrency mining firm Argo Blockchain has been notified by the Nasdaq stock exchange’s regulatory department that it has not met the minimum bid price as the closing bid remained below $1.00 for 30 consecutive days. According to Nasdaq rules, Argo has until 12 June 2023 to regain compliance with the minimum bid price requirement for [...]
Taylor Wimpey chair Irene Dorner to step down December 16, 2022 The chair of Taylor Wimpey’s board has stepped down for family reasons. Irene Dorner will quit in April 2023 at the end of its AGM with Robert Noel taking over the role, currently a senior independent director. She will stay on the board in a non executive role. Lord Jitesh Gadhia, who led the search [...]
BT to merge global and business units into one firm with earning potential of £8.5bn December 16, 2022 BT is combining two of its units into a single business which will have a revenue of about £8.5bn a year. The telecoms giant will merge its Global and Enterprise wings into a one organisation called BT Business, focusing on B2B relations. BT Enterprise has a market share of 30 per cent, providing firms and [...]
November sales down as online retail flops despite Black Friday December 16, 2022 Sales have slumped this November as Black Friday didn’t give online stores the boost it needed. Figures published today by the Office for National Statistics (ONS) show that retail sales volume contracted by 0.4 per cent following a 0.9 per cent rise in October. Online shops were hit the most as non-store retailing sales volumes [...]
Square Mile goes green: Landmarks including Tower Bridge to be powered from UK solar farm December 16, 2022 Square Mile landmarks including Tower Bridge, and the Barbican Centre will be powered with renewable energy from a Dorset farm, it has been revealed The initiative which also includes , Hampstead Heath, Guildhall, Smithfield Market and the Old Bailey, will harness solar power through a £40m deal signed in 2020. Energy provider Voltalia has sold its electricity produced [...]
City Moves: Who’s switching jobs in the Square Mile? December 16, 2022 City A.M.’s Millie Turner provides a roundup of the most important hires and job moves across the City, every morning. Email citymoves@cityam.com to be featured. Tikehau Capital Alternative asset manager Tikehau Capital has poached a director from consumer goods giant Unilever to co-lead its private equity regenerative agriculture practice. Laurent-David Charbit, who first launched his career in supply chains at Michelin before [...]
The pandemic threw scientists into the limelight but not the scientific process December 16, 2022 Scientists became celebrities during the pandemic, but it also meant trust was lost in the process.
Unicorn status is no longer the holy grail of success for start ups in the UK and Europe December 16, 2022 By Annalise Dragic After several record breaking years for the European startup ecosystem, 2022 marked a new, more volatile environment. While brilliant businesses are continuing to raise funding, this is happening against a backdrop of postponed IPOs and decreasing valuations. As we navigate this new landscape and valuations fall (the most headline grabbing so far [...]
Big tech’s year of rough seas has taught us a lesson in naming winners and losers December 16, 2022 IF 2022 has taught us anything, it has shown us how there are no clear business winners or losers from the pandemic. The rough year for big tech is a case in point. Although many of the Faang (Meta neé Facebook, Apple, Amazon, Netflix and Alphabet) cashed in on the various lockdowns, this year has [...]
