Billionaire Richard Branson sells off another $300m stake in Virgin Galactic November 16, 2021 British billionaire Richard Branson has sold off a further $300m worth of stock in his space venture Virgin Galactic, taking the total offloaded this year to some $600m. The unlocked capital is reportedly set to be pumped into Branson’s travel and leisure businesses, after emergency pandemic restrictions bruised profits. Shares sank more than four per [...]
Russia hits back at US accusations that it put astronauts at risk with ‘reckless’ missile trial November 16, 2021 Russia has hit back at US accusations that it put astronauts at risk with its “reckless” anti-satellite missile trial, which saw crew onboard the International Space Station (ISS) shelter from orbiting debris. Crew were directed to close some hatches to keep safe. Roscosmos, Russia’s state space agency, said that it was monitoring the debris situation [...]
City Moves: Who’s switching jobs in the Square Mile today? November 16, 2021 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. Palace Capital Property investment firm Palace Capital has hired a new chief financial officer (CFO). Matthew Simpson has been promoted to the CFO position, moving up from his position as head of finance and operations. Simpson, who [...]
UK calls for ‘constructive’ work with France on migrant crisis November 15, 2021 The UK government has said it wants to work “constructively” with France to tackle the migrant crisis. It comes as a record number of people, 1,185, arrived on the country’s shores last week, according to PA data, which forms part of the more than 23,500 people that have risked the Channel and made it to [...]
ESG, but what about the S? New City Lord Mayor seeks to improve diversity November 15, 2021 The City’s new Lord Mayor has urged that, while the financial hub’s recent environment work has been noted – more work needs to be done on diversity. “Fewer than one in 10 management roles in financial services sector are held by Black, Asian, or other ethnic minority people,” City Lord Mayor Vincent Keaveny said. “I [...]
There will be enough turkeys for Christmas, says British Poultry Council boss November 15, 2021 Though the UK will not face a severe shortage of turkeys this Christmas, choices will be limited, according to the head of the British Poultry Council (BPC). The shortage of the festive bird has been a symptom of the country’s current labour shortage, which has seen fewer retail staff, butchers and meat processing plant workers. [...]
UK upgrades terror threat level to ‘severe’ November 15, 2021 The UK has upgraded its terror threat level to ‘severe’ after yesterday’s explosion at a Liverpool hospital. The upgrade means that experts assume an attack to be ‘highly likely’. The country’s previous threat level had been ‘substantial’, after being downgraded in February this year. Home Secretary Priti Patel confirmed the move, after four people were [...]
JP Morgan: Hong Kong Covid measures create tough hiring climate, says Dimon November 15, 2021 Hong Kong’s strict Covid-19 pandemic restrictions have reportedly created a tough hiring environment for JP Morgan, boss Jamie Dimon said. The city state has some of the world’s most stringent emergency pandemic measures, with inbound travellers having to quarantine in hotels for as long as three weeks form some countries. Dimon said earlier today that [...]
Covid-19 spooks majority of firms to keep cash reserves stocked up November 15, 2021 More than 70 per cent of larger businesses are seeking to bolster their cash reserves, as firms look to strengthen their position to tackle any future crises, according to the latest research, which has been shared exclusively with City A.M. The Covid-19 pandemic has been a wake up call for businesses, after the global health [...]
Antivaxxers have a new enemy: The Santa from Tesco November 14, 2021 Tesco has become the latest subject to antivax protest, after it included a double vaccinated Santa in its latest Christmas advert. Antivaxxers, those who have been against the Covid-19 vaccine rollout, took to Twitter to protest the advert, which pushed #BoycottTesco to trend on the social media platform. GB News presenter Tonia Buxton tweeted: “#BoycottTesco [...]