London’s Argentex proposes interim dividend as revenue climbs a third November 8, 2021 Foreign exchange firm Argentex has proposed an interim dividend of 0.75p per share as its revenue climbs to record levels. The London-based company had revenue jump more than 30 per cent in the six months to 30 September, according to its interim financials. Argentex boasted a highly cash generative first half with 79 per cent of revenue converting to [...]
Brexit trade slump: Gov should cut burden on traders before full border arrives November 5, 2021 The government needs to cut the burden on traders at the UK-EU border to ease a post-Brexit trade slump, a report from the National Audit Office (NAO) has said today. While the Government’s handling of the new border with the EU was “largely successful”, it has relied on temporary measures that are “not sustainable”, the [...]
City Moves: Who’s switching jobs in the Square Mile today? November 5, 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. Growthdeck Private equity firm Growthdeck has added the former chief investment officer at Schroders & Co to its advisory board. Bringing 25 years experience to the position, Kieron Launder has worked with a string of top financial [...]
Airbnb reaps rewards of domestic travel boom with record sales November 4, 2021 Airbnb snagged record sales and earnings in its third quarter, beating analyst forecasts and signalling the domestic holiday boom seen in several countries amid pandemic restrictions. Revenue surged 67 per cent to $2.2bn, climbing past analyst estimates of $2.07bn, according to Bloomberg. The holiday rental platform secured $834m in net income in the period, soaring [...]
Uber marks first-ever adjusted profit, swinging from last year’s $625m loss November 4, 2021 Ride hailing giant Uber has posted its first-ever adjusted profits in its last quarter, swinging from an eyewatering $625m loss just a year ago. The $8m profit marks a turning point from both its ride hailing and food delivery divisions. Consumers have begun travelling in greater numbers again, after a more than a year of [...]
French authorities release British trawler as post-Brexit fishing row rows on November 3, 2021 French authorities have released a British trawler that had been impounded amid the post-Brexit fishing row that has loomed over the G20 and COP26 summits. The boat will now set sail from Le Havre, some 30 miles west of the English Channel. French president Emmanuel Macron had last week warned that Paris could block British [...]
Education secretary: Test children for Covid daily instead of sending them home November 3, 2021 Education secretary Nadhim Zahawi has urged that children undergo daily Covid-19 testing to avoid them missing out on school. Zahawi said the approach would be “much better”, with children in school and taking lateral flow tests as opposed to being at home due to coming in contact with a positive case. Daily testing should be [...]
Uber cuts deal with Tesla to supply London drivers with electric cars November 3, 2021 Uber has cut a deal with Tesla which will supply London drivers with electric vehicles (EVs) as the city pushes to slash emissions. The agreement, which comes into effect from today, will see drivers granted access to a £135m clean air fund to help buy or lease a Tesla car. The funds have been collected [...]
Mandatory Covid-19 vaccination for all 1.2m NHS to be imposed in Spring November 3, 2021 All 1.2m NHS staff will have to have a Covid-19 vaccination by Spring next year, according to reports, despite criticism that the move could lead to a percentage of the workforce quitting. Health secretary Sajid Javid heeded the advice of NHS Providers boss, Chris Hopson, who urged that compulsory jabs should wait until April 2022, [...]
New York firm injects further £300m into London’s Quilam Capital November 2, 2021 London investment firm Quilam Capital has extended its joint venture with Wafra Capital Partners (WCP) with a £300m injection. The joint venture with New York investment house Wafra, which began in 2019, forms part of Quilam’s ambition of becoming Europe’s top investor in specialty finance. The latest investment takes the total available to deploy to [...]