Exclusive: HSBC customers threaten to switch banks unless it cuts Russian oil ties March 11, 2022 More than 1,700 HSBC customers have written to the bank urging it to cut its ties with Russian oil and gas businesses, research shared exclusively with City A.M. has revealed. It comes amid lingering controversy over HSBC’s backing of China’s national security law as it was imposed in June 2020 and has stamped out many [...]
Greenwich could lose TfL funding following LTN slashing March 11, 2022 Greenwich was warned it could lose Transport for London (TfL) funding after it decided to slash the low-traffic neighbourhood (LTN) scheme. The council, led by Labour’s Danny Thorpe, slashed the LTN after residents complained about the detrimental effect on traffic in the borough but now it’s being asked to explain the decision, the Evening Standard [...]
Sig shrinks losses and boosts sales amid ‘strong turnaround in the UK’ March 11, 2022 Sustainable building and insulation specialist Sig has shrunk its losses over the last year, following a tough 2020, as sales rise above pre-pandemic levels. Revenue jumped over 22 per cent to around £2.3bn in the year to 31 December. While the company’s operating profit swung from a £160m loss in the year the pandemic hit [...]
Headwinds stunt Heathrow’s traffic growth March 11, 2022 Heathrow said today Covid-related headwinds have continued to stunt its traffic growth, as passenger numbers last month remained 15 per cent below forecast. February passenger numbers totalled 2.8 million, 50 per cent down on pre-pandemic levels, as inbound and business travel remain hindered by testing and quarantine regimes in two-thirds of the markets the airport [...]
China refuses to send plane parts to Russia March 11, 2022 China has refused to send plane parts to Russia, in a surprise move for the “iron clad” pair. Head of the Airworthiness Maintenance Department of Rosaviatsiya, Valery Kudinov, said that airlines should negotiate purchases separately, as China has refused to supply certain components. “Part of the fleet will be returned,” Kudinov was quoted as saying [...]
Property developer Berkeley on track to hit targets despite ‘volatile’ trading environment  March 11, 2022 Property developer Berkeley said it was on track to meet its performance targets today despite a “volatile” trading environment continuing to ramp up costs and put pressure on the firm’s supply chain.
PM warns Moscow could use chemical weapons in Ukraine March 11, 2022 Prime Minister Boris Johnson said today that Russia might be ready to deploy chemical weapons in Ukraine, echoing White House warnings. “That the stuff that you’re hearing about chemical weapons is straight out of their playbook,” Johnson told Sky News. “They start saying that there are chemical weapons that have been stored by their opponents or [...]
Four in ten Brits consider job change to counter higher cost of living and rising inflation March 11, 2022 Almost forty per cent of people polled this week have considered changing jobs to counter rising inflation and costs of living. Pressures are showing on people’s wages and mental health, with leading employment board Totaljobs urging employers to support their workers through difficult financial times. In a survey published this week, 37 per cent of [...]
House completions for properties outside London up by staggering 667 per cent March 11, 2022 There has been a significant spike in house completions for properties outside of London and Manchester with some areas having up to a 667 per cent rise. Apart from England’s two main population centres, the top 10 growth areas were in outlying towns, new figures from Paragon Bank shows. Milton Keynes led the way, experiencing [...]
City Moves: Who’s switching jobs in the Square Mile this week? March 11, 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. Laing O’Rourke Construction company Laing O’Rourke has posted a former specialist adviser to the House of Commons Science & Technology Committee to its board. Dr Hayaatun Sillem, CEO of the Royal Academy of Engineering, brings a wealth [...]
