City A.M.’s London Snowman Award December 13, 2022 And the winner for the City A.M. Snowman award goes too….
Airports slammed by regulator for being ‘unacceptable’ for disabled travellers – and London Luton is the worst offender December 13, 2022 Airports in the UK are no where near accessible enough for disabled people and passengers with reduced mobility, according to the aviation watchdog. The Civil Aviation Authority (CAA) said that despite signs of improvements in recent months, a number of airports in the country have been providing travellers with “unacceptable” levels of service. London Luton [...]
FinnCap swings to loss as London floats dry up December 13, 2022 FinnCap said revenues had plunged 48 per cent in the first half of the year as a slump in capital markets activity hammers profits for the City’s brokers and investment banks. In its half-year results this morning, the London-listed financial services group said it had swung to a £2.59m loss in the first six months, [...]
Aerospace tech supplier Chemring boosted by rising defence budgets December 13, 2022 Aerospace tech supplier Chemring has had its order intake grow by nearly a third, as governments upped their defence spending in the past year. The London-listed group recorded £551.5m worth of orders in the 12-month period, which boosted revenue to £442.8m. Order intake for Chemring’s countermeasures and energetics division, which includes rocket components, decoys and [...]
Insolvency specialist Begbies Traynor notches jump in profits as bankruptcies soar December 13, 2022 Insolvency specialist Begbies Traynor said it expects to see demand for its corporate recovery services swell next year as recession begins to bite, after it posted a £2.3m rise in pre-tax profits in its first half of trading today.
FRP Advisory’s restructuring team faces rising demand amid economic downturn December 13, 2022 FRP Advisory, which specialises in corporate restructuring, reported £1.2bn worth of transactions in the second half of the year as the economic downturn rattles businesses. The London-listed group said it expects an increase in demand for its services, which also include corporate finance, debt, forensics, and pensions, to continue. In a statement today, CEO Geoff [...]
Poundland owner Pepco to accelerate plan for new stores as profit booms December 13, 2022 Poundland owner Pepco will accelerate its store rollout strategy as it looks to entice cash-strapped shoppers, after posting elevated profit. The discount retailer said it was taking an increased focus on new stores in Western Europe and a refit programme in Central and Eastern Europe. Pepco was upping its annual capex spend to between €350m [...]
City Moves: Who’s switching jobs in the Square Mile? December 13, 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. Silbury Finance Oaktree Capital-backed lender Silbury Finance has appointed a founding director of property site Rightmove to lead its board. Board veteran Grenville Turner brings over 40 years of experience in the residential real estate and finance [...]
Exclusive: North Sea body backs hydrogen hub to power 20m homes December 13, 2022 A vast offshore hydrogen project could help power 20m homes and businesses with low carbon energy, according to the NSTA.
Environmental populism puts greener future at risk, warns North Sea boss December 13, 2022 The Government is damaging the North Sea industry through 'environmental populism' argued OEUK boss Deirdre Michie.
