Unilever rules out any major acquisitions this year after failed £50bn GlaxoSmithKline deal February 10, 2022 Unilever said this morning the consumer giant saw a 4.5 per cent jump in sales for the past year as it was boosted by higher prices. The company, which makes products ranging from Marmite to Ben & Jerrys ice cream, said this was its fastest growth in nine years, driven by a 2.9 per cent [...]
‘Outdated recruitment practices’ exclude job seekers with disability, criminal record or older workers February 10, 2022 Outdated recruitment practices should be addressed to tap into more diverse pools of talent, including those who are disabled, have prior criminal convictions and younger and older workers, according to an industry group. The call to action issued by Business in the Community (BITC) comes as analysis shows that there are 3.1m people in the [...]
Britain’s very first 100mph battery-diesel hybrid train leaves Marylebone station in London today February 10, 2022 Britain’s very first 100mph battery-diesel hybrid train is entering passenger service to cut carbon emissions and boost air quality. Chiltern Railways will introduce the train on its 40-mile route between London Marylebone and Aylesbury, Buckinghamshire, today. There are plans to use it between the capital and Oxford in the coming months. It was developed by [...]
Exclusive: Millions of small businesses vulnerable as £672bn of business loans go unprotected February 10, 2022 Around £672 billion of corporate borrowing by SMEs is unprotected, which could leave businesses vulnerable to any future financial shocks. New data from Legal & General, shared exclusively with City A.M. this morning, shows that three in four of all small and medium size businesses in the UK are carrying some form of corporate debt, [...]
The Monzo effect: Challenger banks make life increasingly difficult for traditional high street rivals February 9, 2022 Challenger banks are outperforming traditional and established financial institutions more and more, with a growing number of Brits taking up accounts with Starling, Monzo or Triodos. According to new data shared with City A.M. this morning, the digital-only banks beat traditional institutions when it comes to customer service and mobile apps. Consumer group Which! asked [...]
Merger talks between LV= and Royal London break down February 9, 2022 Relations between LV= and rival mutual Royal London have taken another dramatic turn with the companies confirming the collapse of merger talks. LV= said the marriage would not be in the “best interests” of its members while Royal London suggested it was misled into thinking its rival did not have a viable future as an [...]
Exclusive: Sceptical environmentalist Bjorn Lomborg on 50 years of misguided climate panic February 9, 2022 Bjorn Lomborg is President of the Copenhagen Consensus and Visiting Fellow at Stanford University’s Hoover Institution. His latest book is “False Alarm: How Climate Change Panic Costs Us Trillions, Hurts the Poor, and Fails to Fix the Planet.” Writing exclusively for City A.M. today, Lomborg zooms in on half a century of what has been, [...]
Amazon Prime fees could soon rise to over £90 for 15m Brits despite record UK sales of £23.6bn February 9, 2022 Amazon’s UK revenue jumped over 20 per cent last year. That won’t halt a rise of at least 17 per cent in the cost of Prime membership, if it follows the lead of Amazon US. Even though Amazon has just announced record sales of £23.6bn here in the UK, it’s unlikely that will stop a [...]
Four day work week could close gender pay gap, argues women’s rights group February 9, 2022 Moving to a shorter working week could help to close the gender pay gap, according to a new report released today. When unpaid and paid work is combined, women continue to work longer hours than men but for less money, while overwork and overproduction are a direct cause of climate change, the Women’s Budget Group [...]
Govt told: ‘Don’t overpromise but be honest’ about Brexit as red tape, costs and delays hit UK firms February 9, 2022 The public spending watchdog warned this morning that UK trade with the EU has been knocked by Brexit and businesses have faced higher costs, more paperwork and border delays since Britain’s withdrawal. A report by the Public Accounts Committee found that while it was difficult to untangle how much of the hit to trade since [...]
