Heathrow bid to raise £2.6bn through higher passenger charges blocked April 27, 2021 The UK’s aviation regulator has today ruled that Heathrow’s bid to raise passenger charges to repair the damage of the coronavirus pandemic was “not in the interest of consumers”. The airport had asked the Civil Aviation Authority (CAA) to increase its regulatory asset base to £2.6bn in order to recover its losses. But the watchdog [...]
EDF shares soar on hopes for restructuring deal April 27, 2021 EDF shares shot up by more than five per cent this morning following reports that Paris and Brussels were nearing a deal to restructure the energy group by the end of next month. Negotiations over how to separate EDF’s nuclear arm and to fix its energy prices for third parties have dragged on for months, [...]
Asda beats competitors to become fastest growing Big Four supermarket for first time in more than two years April 27, 2021 Asda beat its competitors to become the fastest growing of the biggest UK supermarkets for the first time in more than two years as consumers ventured further for their food shopping. The latest data showed Asda, which was recently sold by US retail giant Walmart to the Issa brothers and TDR Capital, increased its market [...]
Senior Adops Executive role at cityam.com April 27, 2021 Over the pandemic, City A.M. has grown into a digital first business with traffic doubling and an increased focus on digital products. As a result of this continued growth, we are recruiting for a Senior Adops Executive. We are looking for a motivated, confident, social and positive person to join the digital team at City [...]
BP to kick off share buyback plans as profit climbs on rising oil prices April 27, 2021 BP this morning said it would kick off £500m worth of share buybacks in the second quarter after its profit beat expectations in the first three months of the year. The oil giant said that reported profit for the first quarter came in at $4.7bn, up from $1.4bn in the last period of 2020. Underlying [...]
Gina Miller calls for FCA chair’s resignation following ‘anti-consumer behaviour’ April 27, 2021 Campaigners have called on FCA chair Charles Randell to step down following concerns that the regulator’s compensation scheme could leave consumers unable to claim monetary compensation if the FCA itself is at fault. Gina and Alan Miller claimed the City regulator was potentially behaving in an unlawful and anti-consumer way. They said that while the [...]
Premier Inn owner Whitbread targets £100m in extra cost savings as pandemic decimates profit April 27, 2021 Premier Inn owner Whitbread will cut costs by an additional £100m over the next three years following the impact of the pandemic, which caused the hotel chain to swing to a huge loss. Whitbread said this morning that it will “take actions to ensure that we exit the crisis as a leaner, stronger and more [...]
Digital wealth manager Nutmeg sees surge in clients during record year April 27, 2021 Nutmeg has today announced that it has surpassed £3bn in assets under management following a year-on-year growth of 72 per cent. Delivering its first quarter trading update, Nutmeg showed a continuation of growth which has seen it maintain its position as the European market leader in the digital wealth management sector. Nutmeg saw a 53 [...]
City Corporation unveils action plan to be world’s most innovative, inclusive and sustainable centre April 27, 2021 The Square Mile must adapt to post-pandemic economic and social trends in order to remain a world-leading ecosystem, according to a new report published today by the City of London Corporation. The Square Mile: Future City, produced by the City Corporation’s Recovery Taskforce inpartnership with Oliver Wyman, sets out a vision for the next five [...]
Waitrose expands Deliveroo partnership to 150 stores, creating 400 jobs April 27, 2021 Waitrose has expanded its partnership with Deliveroo as it aims to ramps up its online delivery capabilities, in a move that will create up to 400 new jobs. The supermarket announced this morning that it will increase the number of Waitrose shops available on the delivery app from 40 to 150, serving around 13m people. [...]
