Online materials retailer CMO valued at £95m in London AIM listing July 2, 2021 Online-only building materials firm CMO has bagged a sturdy valuation of £95m ahead of its London AIM listing, the company confirmed this morning. CMO said it is trying to rally around £45m in a share placement for 132p per share on London’s junior AIM market. Last week, the online retailer announced its intention to list [...]
SSE Networks bows to stakeholders and plots a £4bn net zero investment July 1, 2021 Scottish and Southern Electricity Networks (SSEN) may pledge over £4bn in the push for net zero, the energy giant said in a draft business plan today. The draft plan for 2023 to 2028, which was led by stakeholders according to SSEN, set goals like cutting unplanned power interruptions by 20 per cent and connecting a [...]
Lockdown tech and shift to online lifts AO World’s revenues and profits July 1, 2021 The surge of online shopping amid the pandemic pushed revenues at online electrical retailer AO World to surge 59 per cent, the retailer said in a statement this morning. The switch to online helped AO wire in around £1.4bn in UK revenue in the year to 31 March, while revenue across the group entirely lifted [...]
Robinhood slapped with $70m fine for ‘misleading customers’ July 1, 2021 Stock-trading app Robinhood has been ordered to pay nearly $70m by financial regulators in the US for ‘misleading its customers’ and left them out of pocket. The app climbed to fame amid the Gamestop meme-stock rally at the beginning of the year. The US’s Financial Industry Regulatory Authority, known as FINRA, reported that Robinhood inflicted [...]
Zoom no more: Work lunches return in time to lift office morale, study says July 1, 2021 After more than a year of virtual coffees, the business lunch is back according to a new study, with Brits eyeing sirloin steak and red wine to seal a deal. The study, commissioned by London North Eastern Railway (LNER), found that most participants agreed that treating a client to a medium-rare sirloin steak paired with [...]
Cairn Homes to post dividend of 2.66 cents, while demand has ‘never been stronger’ July 1, 2021 Cairn Homes is set to reinstate a dividend of 2.66 cents per share, while the demand for new homes has “never been stronger”, the housebuilders boss said. The group raked in a sturdy €131m revenue from 403 closed new home sales in the six months to 30 June, up from €81m from 207 closed sales [...]
Store to door: Dixons Carphone in talks with Uber to ferry tech to homes June 30, 2021 Dixons Carphone, the company behind Currys PC World, has begun talks with Uber to speed up its delivery offering, which was recently slimmed down from 24 hours to an hour. The deal would see Uber drivers deliver the company’s products as it looks to expand its home delivery services, a market not yet ventured by [...]
OneWeb scores $500m injection from India’s Bharti Global ahead of satellite launch June 30, 2021 OneWeb has received an investment injection of $500m today from business giant Bharti Global, making the Indian conglomerate the start-up’s largest shareholder. Just days after the UK space start-up inked a deal with BT, OneWeb, which currently has 218 satellites, is due to launch another 36 on Thursday. Bharti now has a 39 per cent [...]
City Moves: Who’s switching jobs in the Square Mile this week? June 30, 2021 City A.M.‘s Millie Turner provides a roundup of the most important hires and job moves across the City, every Wednesday afternoon. Email citymoves@cityam.com to be featured. IoD’s chief economist departs for Fitch Ratings The Institute of Director’s (IoD) chief economist will step away from the role next week to become director of economics at US credit rating [...]
Dixons Carphone posts £4.9bn UK revenue, buoyed by ‘explosion’ of gaming June 30, 2021 Dixons Carphone has posted a £4.9bn revenue from electricals in the UK and Ireland today, as it reaped the benefits of the pandemic-induced tech boom. Its revenue climbed eight per cent in the UK in the year to 1 May, up from £4.5bn the year before, the group said in its audited annual results this [...]
