Buoyant consumer banking propels Bank of America profits October 14, 2021 Buoyant consumer banking activity drove Bank of America’s profits up sharply in the third quarter. The US bank’s profits swelled nearly $3bn over the last year, climbing to around $7.7bn in the last three months. More to follow.
Galactic Britain: UK space companies win big at Deloitte competition October 14, 2021 British tech companies took home four out of nine awards at Deloitte’s GRAVITY challenge competition in a sign the space sector is thriving post-Brexit. UK companies including Helyx, Little Place Labs, Seanasol Consortium and Treeconomy, three of which are London-based firms, proposed winning solutions to challenges posed by global brands addressing key industrial, social and environmental [...]
Morgan Stanley beats expectations on booming deal making environment October 14, 2021 Wall Street giant Morgan Stanley beat profit expectations for the third quarter, driven by a booming deal making environment. The US bank notched $3.7bn in profits over the last months, up around $1bn from the same period last year, it said today. More to follow.
Theaster Gates at Whitechapel Gallery review October 14, 2021 Fenchurch Street is currently a mess of diggers and drills, creating the perfect backdrop for a sculpture exhibition that begins with bricks. Chicago-based artist Theaster Gates explores the historical significance of clay and clay artefacts, using them as a way of understanding racial identity in an urban setting. Sculpture, installation and film all feature in [...]
National Express enjoys revival in revenue October 14, 2021 National Express has enjoyed a revival in revenue as passengers return following the end of pandemic restrictions. The bus company has reported that the number of UK customers using its services has reached 76 per cent of pre-pandemic levels from 2019. Its domestic business UK Coach is now operating 56 per cent of services, up from [...]
Sunak deaf to industry calls to overhaul business rates October 14, 2021 Chancellor Rishi Sunak has ignored calls from industry chiefs to shake up the business rate regime at the next budget. According to The Telegraph, government plans to overhaul the business rate system have been “thrown into the long grass”. The Chancellor has not had enough time to consider the effects of wholesale changes to the [...]
Pure Gym close to bailing out of £1.5bn London listing October 14, 2021 The UK’s largest gym chain Pure Gym is reportedly close to abandoning its £1.5bn London float. The company could decide sometime this week whether it will go ahead with the listing, Sky News’ Mark Kleinman first reported. Though the initial public offering (IPO) had not been formally announced, Pure Gym had confirmed in August that [...]
Investment group Ashmore loses $3bn assets as emerging markets struggle October 14, 2021 Assets under management at Ashmore Group dropped by $3.1bn in the third quarter of 2021, the UK-listed company said in an investor update this morning. The news marks a blow for the company, which specialises in emerging markets, as just last month the firm saw its assets under management swell to almost $95bn over the [...]
Octopus Energy and RES commit £3 billion to build new UK hydrogen plants October 14, 2021 Octopus Energy and RES will invest £3 billion in the construction of new hydrogen plants across the country by 2030. The aim is to help the UK become more energy independent. The new plants will maximise electrons when they are generated in abundance on sunny and windy days by storing them as green hydrogen. In [...]
DOT takes lead as Bitcoin recovers, but retail market still yet to join party October 14, 2021 A swift recovery for Bitcoin has seen the price of the largest cryptocurrency climb back to more than $57k, having briefly dropped below the $55k mark yesterday.
