Saudi Aramco’s profits plunge 44 per cent as oil demand slides March 22, 2021 Oil group Saudi Aramco will keep its $75bn dividend promise to shareholders despite profits almost halving in 2020 as Covid rocked economies. The world’s biggest oil firm said net income had dropped to £35.4bn, down 44 per cent compared to the previous year. Aramco has taken on more debt in the past 12 months to [...]
Listed law firm Knights buys 60-year-old Surrey firm March 22, 2021 UK law firm Knights will acquire Surrey-based Mundays for £5.3m in a move that will increase the group’s presence in the South East. Knights will pay £3.93m up front for the smaller law firm, followed by cash payments worth £1.375m to be paid over two years. Knights CEO David Beech said: “The acquisition of Mundays [...]
MPs to decide today if David Cameron’s lobbying for Greensill bailout will be probed March 22, 2021 MPs to decide if David Cameron's lobbying for Greensill bailout will be probed
Deliveroo targets £9bn market cap in London listing as food order values more than double March 22, 2021 Deliveroo is targeting a market capitalisation of almost £9bn through its upcoming public listing, the food ordering app announced this morning as it revealed transaction values had more than doubled at the beginning of the year. The firm this morning unveiled further plans for its London initial public offering (IPO), setting the price range for [...]
International policymakers must have regulatory coherence to support economic growth March 22, 2021 The vaccination rollout campaigns in both the UK and across the world have allowed us to start dreaming of life after the pandemic. As the global economy begins to open back up again, we will start to see the green shoots of our recovery. One important way that the financial and professional services sector is [...]
Sir Richard Branson-backed air quality tech firm raises $3m to expand in UK March 22, 2021 Airly, the air quality tech firm backed by Sir Richard Branson, has raised $3.3m in a funding round to expand its platform globally. The company, which provides AI-driven insights on air pollution, is planning to open offices in the UK and the US and double its staff count. It currently counts Philips, Virgin, Innogy, PwC, [...]
Trust in AstraZeneca vaccine plummets further across Europe March 22, 2021 Trust in the safety of the Oxford University/AstraZeneca vaccine in Europe has dropped even further, after 17 countries made a quickly overturned decision to ban the jab last week. A new YouGov survey showed 55 per cent of Germans, 61 per cent of the French, 52 per cent of Spanish people and 43 per cent [...]
The City View: The future of the office, with Dr Peggie Rothe March 21, 2021 City A.M.’s Andy Silvester sits down with Dr. Peggie Rothe, Leesman’s Head of Research and Insights, for a bumper edition on the future of the office. Andy and Peggie discuss what leaders and companies will need to do to persuade staff back to the office, and to use this year of disruption to change what [...]
Union boss Len McCluskey and Keir Starmer have not spoken in past year March 21, 2021 Powerful union boss Len McCluskey has today said he has not spoken to Sir Keir Starmer since he became party leader last April and that “that personal relationship broke down”. McCluskey, who is general secretary of Unite, called for Starmer to be more conciliatory toward the hard left of the party. The Labour leader has [...]
City workers prepare to head back to offices in just eight days time March 21, 2021 Workers are getting ready to head back to the City of London in just over a weeks’ time as the government’s “stay at home” order is relaxed. Investment banks are leading the return to work, with staff set to return to the Square Mile for the first time in months. Goldman Sachs, JP Morgan and [...]
