Fears of tougher restrictions sweep China after first Covid death in months November 21, 2022 Fears of tougher restrictions have reignited across China today, after the country recorded its first Covid-19 death in six months. On Sunday, an 87-year-old man in Beijing died as infections across the country spike. Beijing has in recent days moved to confine some residents to their homes and ordered others to quarantine centres. Markets fell [...]
City Moves: Who’s switching jobs in the Square Mile? November 21, 2022 City A.M.’s Millie Turner provides a roundup of the most important hires and job moves across the City, every morning. Email citymoves@cityam.com to be featured. Starcom Media agency Starcom, part of Publicis Media, has hired into the newly formed role head of planning. Lin-Sze Teh is set to oversee a team of 80 planners and report to CEO Nadine Young when she [...]
Everyman cinema chairman to bow out after shrinking pandemic losses November 18, 2022 Everyman Media Group’s chairman has announced his exit, after helping steer the cinema chain through pandemic restrictions. Paul Wise, executive chairman, will remain in his role until the end of February next year, when he will then depart to pursue other interests. The outgoing chief joined the group in 2013, having been a partner at [...]
Nvidia stock dips after share earnings miss expectations November 18, 2022 Shares in Nvidia have slipped today after the chipmaker’s earnings per share scraped the bottom of analyst forecasts. The US tech giant snagged $0.58 a share versus the $0.70 that was expected by onlookers. Nvidia did however sail past revenue expectations, securing $5.93bn in the third quarter, above estimates of $5.79bn. The company, which specialises [...]
Fuller’s boosted by commuters returning to London as gov offers ‘close to zero support’ for pubs November 17, 2022 The government has not issued any “meaningful support” for the pub sector, the boss of Fuller, Smith & Turner, told CityA.M., following the autumn budget. Although the country now had a “very strong” Prime Minister and “very solid” Chancellor in place, the pub sector had been offered “close to zero support” amid a worsening economic [...]
Startups hit by R&D tax relief cut despite push for growth November 17, 2022 The Chancellor has cut the rate of research and development (R&D) tax relief for small businesses, in a “hugely disappointing” move for startups. In his Autumn budget, Jeremy Hunt slashed the relief from 14.5 per cent to 10 per cent, which may see the UK’s SMEs struggle to secure enough funding for R&D, according to [...]
GPE injects £1.1bn into ‘starved’ London office market despite sinking values November 17, 2022 GPE, formerly known as Great Portland Estates, is continuing to inject £1.1bn into feeding a “starved” central London office market despite blows from rising interest rates. The London-listed firm, which yesterday secured a record leasing of the City’s 2 Aldermanbury Square to Clifford Chance, is one of the largest office leasers in the capital. However, [...]
Starry-eyed investors: Seraphim Space more than doubles portfolio value 12-months November 17, 2022 Seraphim Space Investment Trust (SSIT) has more than doubled its portfolio value over the past year, as space tech continues to lure in investors. The Trust’s portfolio valuation swelled more than 11 per cent to £207m in the three months to the end of September – more than double what it was 12-months ago. Seraphim’s [...]
Crest Nicholson halts opening of new division as forward sales slow November 17, 2022 British housebuilder Crest Nicholson has halted the opening of its third new division as interest rates dampen the desire to buy a home. The FTSE250 housebuilder is not the first to voice caution over rising rates, which have pushed up mortgage costs for many – deterring Brits from jumping onto the property ladder. Forward sales [...]
City Moves: Who’s switching jobs in the Square Mile this week? November 17, 2022 City A.M.’s Millie Turner provides a roundup of the most important hires and job moves across the City, every morning. Email citymoves@cityam.com to be featured. Hero Labs Waterloo-headquartered Hero Labs, a manufacturer of water management devices, has appointment a new CEO. Adam Williams brings experience from scale-ups and large tech firms, including Samsung and Sony. He will succeed Steve Moore when he [...]
