Supreme Court gives green light for asylum seeker to be deported tonight on first flight to Rwanda June 14, 2022 The Supreme Court just dismissed the first High Court application of the day from a person to not be removed to Rwanda on Tuesday evening’s flight. The man, an Iranian Kurd who had suffered PTSD in Turkey while travelling to the UK, had brought a claim asking not to be removed on the upcoming flight [...]
Car industry in shock and fuel prices climb as government scraps all grants for electric vehicles June 14, 2022 There is widespread shock and surprise in the car industry this morning as the DfT said all grants for new EVs have been scrapped.
‘What’s wrong with Britain?’ Global outrage and astonishment as first deportation flight to Rwanda is about to take off June 14, 2022 While Conservative MPs cheered in the House of Commons after it emerged that a last-ditch legal bid to block the first Rwanda deportation flight had failed, outrage and condemnation about the UK’s latest immigration plans are growing worldwide. European media respond with astonishment to the news Britain is going ahead and deport illegal immigrants to [...]
A struggle to get credit: Bank lending to hospitality nosedives following end of Covid loans CBILS and BBLS June 14, 2022 Outstanding bank lending to small businesses in the hospitality sector has fallen by more than £1.4bn since the end of CBILS and BBLS loans schemes. According to new data shared with City A.M., bank lending dropped to £14.6bn in April 2022, down from £16.08 billion in March 2021. With the cost of living crisis eating [...]
Terrible Tuesday for Bitcoin as crypto tumbles 20 per cent in just two days with investors fleeing risk June 14, 2022 The price of bitcoin fell by another 10 per cent overnight, hitting an 18-month low of $20,834.70, before recovering to trade around $22,700 by 9am UK time this morning. In sterling terms, bitcoin is now trading around £18,665. Discussing the violent movements with City A.M. this morning, Adrian Lowery, financial analyst at DIY investing platform [...]
Go-Ahead shares fly after transport giant agrees £650m takeover by little-known Australian bus firm June 14, 2022 Shares of transport giant Go-Ahead are skyrocketing this morning after the company agreed to a £650m takeover by a consortium including an Australian bus operator. The UK-listed company, which runs London’s red buses on behalf of Transport for London, saw shares rise by almost 14 per cent to 1,540p this morning. It came after Go-Ahead [...]
UK’s first monkeypox patient slams UK Health Security Agency: ‘They did not contact me until I spoke to the media’ June 14, 2022 The first British monkeypox patient this year, James McFadzean, has criticised the UK Health Security Agency claiming the body responsible for the tracking and tracing the contagious virus did not contact him until he spoke to the media. Speaking in his first television interview, McFadzean, who is a 35- year-old HR manager told TalkTV how [...]
Exclusive: Moneyfarm’s rising star CEO on disrupting finance and the M&G deal that got the City talking June 14, 2022 Moneyfarm is a pan-European digital wealth manager with around 80,000 active investors and more than £2.2bn invested on its platform. Until recently it has been better known in Italy than the UK, but this is likely to change very soon, a confident Giovanni Daprà – co-founder and CEO of Moneyfarm – tells City A.M. today. [...]
From Ocado to Trustpilot and M&S to ITV: Value of dozens of FTSE giants down by a third since start of Ukraine war June 11, 2022 Nearly 50 companies in the FTSE 350 have seen their stock market values fall by at least a third since the start of the Ukraine crisis. The biggest fallers have been technology companies, new data shared exclusively with City A.M. shows today. Review website Trustpilot, which listed just over a year ago, has seen its [...]
Weekend read: The SPAC bubble is bursting, argues Syz Bank’s investment chief June 11, 2022 With monetary policies tightening, speculative bubbles are bursting one after the other. SPACs are no exception. As a reminder, a SPAC, or Special Purpose Acquisition Company, is a company with no operational activity – an empty shell – that raises funds on the stock market with the sole objective of making an acquisition or acquisitions. [...]
