Nine Elms: Luxury residential tower in Thames City struggles to find buyers November 11, 2021 A residential tower at the centre of the Thames City development in Nine Elms has reportedly struggled to find buyers for its luxury apartments. The skyscraper has sold less than one in 15 homes in its first year of marketing, The Telegraph first reported. The developers have since pointed out to City A.M. that only [...]
Aviva life sales jump to £25bn, boosted by record savings and retirement inflows November 11, 2021 Aviva’s life sales have jumped to £25.3bn in its latest quarter, which has been boosted by “record” inflows in its savings and retirement division, the firm’s boss confirmed today. The insurer secured £7.3bn worth of savings and retirement funds in its third quarter, which CEO Amanda Blanc said signals “excellent” progress in its post-shakeup growth. [...]
GDP: Summer spending pushes UK economy growth spurt of 1.3 per cent November 11, 2021 The UK economy grew by 1.3 per cent between July and September, down from 5.5 per cent in the previous three months, the Office for National Statistics (ONS) has said. The quarterly figure has fallen below analyst estimates of 1.5 per cent. The UK’s GDP remains just 0.6 per cent below its pre-pandemic levels after [...]
City Moves: Who’s switching jobs in the Square Mile today? November 11, 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. DF Capital Specialist lender DF Capital has hired a new head of change and continuous improvement, who will be responsible for leading the development of business innovations across the bank. Also ensuring organisational processes are most [...]
Pfizer accused of warping Covid-19 vaccine distribution claims November 11, 2021 Human rights charity Amnesty International UK has accused Pfizer of making misleading claims about the distribution of its Covid-19 vaccines to low-income countries. “Pfizer says it is committed to supplying doses to low and middle-income countries, but the numbers just don’t bear this out. The fact is that this company is still putting profits first,” [...]
Covid: WHO expert urges world leaders to wear masks as Europe cases climb November 10, 2021 A World Health Organisation (WHO) lead has urged world leaders to wear a mask, just days after prime minister Boris Johnson was seen maskless during a hospital visit. Johnson had been seen posing with masked hospital staff in a corridor at Hexham General Hospital in Northumberland, without wearing a mask himself. Though the prime minister [...]
Less than a third of businesses plan on cutting their emissions over the next year November 10, 2021 Less than a third of businesses plan on cutting their greenhouse gas emissions over the next year, despite the UK’s recent net zero efforts, according to the latest research. What stands in the way of most firms, however, is the transition to producing fewer emissions being ‘costly’, the Office for National Statistics found. While around [...]
Big Shoes: City of London Corporation deputy chair frontrunner to succeed Catherine McGuinness November 10, 2021 City of London Corporation chair Chris Hayward is looking like the frontrunner to succeed City veteran Catherine McGuinness when she steps down next year, according to reports. McGuinness’ departure in leaves one of the most powerful jobs in the Square Mile officially up for grabs, after a five year term. While Hayward is expected to [...]
M&S shares surge more than 15 per cent following full year profit hike November 10, 2021 Marks and Spencer (M&S) has lifted its full year profit expectations as the high street retailer looks to expand its store offering – and take over six former Debenhams sites. Shares surged a massive 15.76 per cent to 225.10p per share by mid-morning, boosting the entire market. “The shares have come roaring back from the [...]
ITV expects advertising revenue to hit record high following summer viewing frenzy November 10, 2021 ITV’s total advertising revenue for 2021 is expected to be the highest in studio’s history, as it reaps the rewards of hit summer shows like Love Island. Revenue from advertising alone jumped by a third in the nine months to the end of September 2021, with July up 68 per cent, August up 24 per [...]