Covid-19: Javid criticises London NYE fireworks cancellation as cases climb October 14, 2021 Health secretary Sajid Javid has criticised London mayor Sadiq Khan’s decision to cancel London’s coveted fireworks show for the second year running. Khan cancelled the show due to concerns of Covid-19. Though data from the UK Health Security Agency has shown that cases are rising in all regions in England, with the East Midlands having [...]
Net zero: ”Failure to deliver’ is still very much on the cards’, says new HSBC report October 14, 2021 The UK’s manufacturing industry, which produces 12 per cent of the country’s carbon emissions, is in desperate need of financing to reach net zero, according to a new report. The report, by the University College London and supported by HSBC, has urged that the manufacturing sector – a key driver in the UK economy – [...]
Boots sales knocked by dip in footfall but buoyed by Covid-19 test demand October 14, 2021 Sales hit £34bn in the three months to 31 August at Walgreens Boots Alliance (WBA), the combined group of pharmacy chains Walgreens and Boots. Boots UK pharmacy sales lifted 11.4 per cent in comparison with last year, signalling strong demand for pharmacy services, notably Covid-19 tests. While retail sales jumped 15 per cent. High street [...]
Pure Gym close to bailing out of £1.5bn London listing October 14, 2021 The UK’s largest gym chain Pure Gym is reportedly close to abandoning its £1.5bn London float. The company could decide sometime this week whether it will go ahead with the listing, Sky News’ Mark Kleinman first reported. Though the initial public offering (IPO) had not been formally announced, Pure Gym had confirmed in August that [...]
Sustainability: ‘Who is ultimately accountable? The board and the CEO’ October 14, 2021 A business’ board and chief executive are the ones ultimately accountable for creating a sustainable company with COP26 on the horizon, according to DS Smith’s sustainability lead. “Sustainability should, as a function, should make itself superfluous,” said Wouter van Tol, head of sustainability at the London listed packaging giant. Speaking at a sustainability roundtable earlier [...]
‘Buoyant stock markets’ push funds under management growth at Charles Stanley October 14, 2021 Revenue swells at wealth management group Charles Stanley, as “buoyant stock markets” increase its funds under management. In the three months to 30 September, revenue jumped 15.3 per cent to £46m, up from the £39.9m it pulled in in the second quarter of last year. The wealth manager saw its total funds under management inch [...]
Pension savers fear higher fees as Sunak eyes extra infrastructure cash October 14, 2021 Ministers are reportedly mulling a decision to dilute the 0.75 per cent cap on annual management fees, which would leave UK retirement savers vulnerable to high charges. The cap, put in place in 2016, protects employees who are auto-enrolled into their pensions from having their retirement pot eaten into by higher charges. It comes as [...]
City Moves: Who’s switching jobs in the Square Mile today? October 14, 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. McDermott Will & Emery Law firm McDermott Will & Emery has poached the new Head of its London Corporate Tax practice from Deloitte. Kevin Cummings makes his return to the legal market after being a Partner at [...]
Khan’s Covid recovery campaign for London’s battered tourism sector pulls in £70m October 13, 2021 London mayor Sadiq Khan’s pandemic recovery campaign for the capital’s battered tourism sector has pulled £70m into the sector, according to London & Partners CEO Allen Simpson. The campaign, which launched in May, was to bring a well needed boost to London’s tourism sector after emergency Covid-19 restrictions decimated the industry. Speaking at City Hall [...]
Ed Miliband: All financial institutions must form climate transition plans by 2023 October 13, 2021 Shadow business secretary Ed Miliband has urged the government to get all financial institutions to form credible climate transition plans by 2023. The plans need to be consistent with the 2015 Paris Agreement which stipulated that to avoid climate disaster, the world must keep global temperature rises to 1.5C. “London is one of the world’s [...]