Philip Morris accused of lobbying government amid £1bn Vectura takeover October 25, 2021 Concerns continue to mount that tobacco giant Philip Morris International will use its £1bn takeover of inhaler company Vectura to lobby in the public health sector. Fears that the move will legitimise the tobacco industry as an active player in the health sector have spiked after Philip Morris boss Jacek Olczak was accused of lobbying [...]
Insulate Britain restarts sit-downs on London’s roads for beginning of half term October 25, 2021 Insulate Britain are pinned to the roads once again, in time for the start of the week-long half-term today, following a brief hiatus. The controversial environmental group, which seeks to properly insulate the UK’s homes in a bid to reduce CO2 emissions, began their sit-down at rush hour this morning, targeting roads in central London. [...]
Sunderland gigafactory to undergo massive expansion amid rise in EV demand October 25, 2021 The UK’s Sunderland gigafactory is set to be expanded as the Chinese firm behind the plant looks to bolster its electric vehicle battery division. The move will see capacity swell sixfold, as it increases from the 1.7-gigawatt hours (GHh) to 11GWh, when the site is expected to be opened. Though the boss of the Chinese [...]
Budget: International competition to become new priority for City watchdogs October 25, 2021 The Treasury is reportedly going to reveal this week that City regulators must consider competition as much as they do safety and soundness when making key decisions. The move, set to be unveiled in the budget, is expected to be accompanied by a cut in surcharge tax on banks’ profits. The Treasury has been in [...]
Global vaccine programmes: How do they compare? October 25, 2021 While the UK was one of the first nations to begin the rollout of the Covid-19 vaccines, it has fallen behind in the race for full inoculation. So, how do global vaccination programmes compare? Portugal Leading the world’s vaccination success is Portugal, with 82.82 per cent of its population having received both doses as of [...]
City Moves: Who’s switching jobs in the Square Mile today? October 22, 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. Seraphim Space Manager of London-listed Seraphim Space Investment Trust, Seraphim Space has poached Virgin Management’s former Investment Director. Joining the firm immediately, Andre Ronsoehr has been appointed to help build out Seraphim’s space investment portfolio. While at [...]
City’s CO2 emissions slashed by more than 60 per cent in 15 years October 21, 2021 Carbon emissions in the City of London have plummeted by more than 60 per cent in the past 15 years, according to the latest data. While emissions in Westminster halved in the period between 2005 and 2019, the Office for National Statistics (ONS) found. It comes as the capital plans to extend its ultra-low emission [...]
Hong Kong ousting over 50 opposition councillors ‘deeply concerning’, says Truss October 21, 2021 Hong Kong’s home affairs chief has unseated another 16 opposition district councillors today, bringing the total ousted local politicians to more than 50. Newly appointed foreign secretary Liz Truss has condemned the actions, calling the move “deeply concerning”, as the political climate in the former British colony remains unstable. “It is deeply concerning that 55 [...]
UK’s second green gilt secures over £70bn of investor demand October 21, 2021 More than £74bn has been offered to the government in demand for its second green government bond which had its order book gates thrown open today. It comes a month after its first green gilt which attracted a record £100bn in demand from hungry investors. The appetite for environment, social and governance (ESG) focussed loans [...]
Blackstone deal bags Spanx a spanking new $1.2bn valuation October 21, 2021 Shapewear brand Spanx has bagged a $1.2bn valuation after inking a deal with investment heavyweight Blackstone. The deal will see Blackstone snap up a majority stake in the brand, though how much the private equity firm forked out for the shapewear brand is not yet known. After founding the company in 2000 with $5,000 in [...]