UK PMIs: Service sector grew at fastest rate since 2013 in April May 6, 2021 The UK service sector grew at the fastest rate since 2013 in April as the economic recovery from the Covid-19 pandemic continues apace. The UK Composite Purchasing Managers’ Index (PMI) for services rose to 61 in April, up from 56.3 in March. Any score above 50 indicates growth. It beat flash estimates of a reading [...]
London-born Eastenders actor claims he is facing deportation to Jamaica May 6, 2021 A London-born actor has claimed he is facing deportation to Jamaica, just days after the Home Office opened visa pathways for winners of awards. After battles with the Home Office, Ace Ruele Aristotles’ Limited Leave to Remain was downgraded to temporary and must be renewed every 30 months, costing £2,389 each time. “Why should I [...]
Mirror publisher Reach hails ‘encouraging’ digital growth after pandemic hit May 6, 2021 Newspaper publisher Reach today reported first-quarter trading ahead of expectations after its circulation and advertising revenue was battered by the Covid-19 pandemic. The London-listed group, which owns the Mirror and Express as well as a number of regional titles, said its digital revenue grew by more than a third in the four months to 25 [...]
Mayor of London election: What did the candidates say about the City of London? May 6, 2021 Londoners are heading to the polls today to decide who their next mayor will be. The pandemic has been particularly hard for the City, with workers, tourists and other visitors vanishing as lockdowns were imposed. Shops, restaurants, and pubs all had to pull their shutters down and offices emptied. Let’s take a look at what [...]
Semiconductor firm Alphawave prices London IPO at up to £3.2bn May 6, 2021 Canadian firm Alphawave has set a price range for its planned London float putting it on track for a valuation of up to £3.2bn. The company is just four years old and develops technology that pushes data through data centres and phone networks. It indicated plans to list in the capital last month and now [...]
Virgin Media eyes return to revenue growth ahead of O2 merger May 6, 2021 Virgin Media has forecast a return to revenue growth this year as it gears up for a £31bn merger with mobile network O2. The telecoms group reported revenue of £1.3bn in the first three months of the year, up a marginal 0.2 per cent. Earnings before interest, tax, depreciation and amortisation slipped one per cent [...]
Does an emissions scandal await the real estate sector? May 6, 2021 In September 2015, news broke that Volkswagen (VW) had been selling cars in the US that had a so-called “defeat device” installed in diesel engines. It could detect when they were being tested and change performance to improve results. The German carmaker admitted to cheating emissions tests and it soon became clear that this was [...]
Bank of England meeting: What to expect later today May 6, 2021 With more than 50m doses of the Covid vaccine administered and positive signs of economic recovery, all eyes will be on the Bank of England later today. While restrictions were reintroduced in the first quarter the hit to GDP seems to have been less than originally expected, and there are encouraging signs in the second [...]
Engineer Melrose warns chip shortage could slow its growth May 6, 2021 Engineering firm Melrose warned that the global shortfall in semiconductors would have an impact on its growth in 2021. The FTSE 100 company said that sales over the first four months of 2021 were 8.0 per cent higher than last year, with operating margins having recovered quicker than expected. But, the GKN owner cautioned that [...]
Aston Martin narrows losses as sales more than double May 6, 2021 Aston Martin has staged somewhat of a recovery in the first quarter, narrowing its losses as sales to dealers more than doubled. The carmaker posted a smaller first-quarter loss of £42.2m compared with the £110.1m posted in the same period last year. Coronavirus restrictions have hit Aston Martin’s sales hard and last year it asked [...]
