Hawkish policy on investments in British tech to only tighten, says Alphawave boss July 22, 2022 The government’s hawkish policy on foreign investments in British technology is only going to tighten, the boss of chip maker Alphawave has told City A.M. Computer chip manufacturers have fallen under increasing scrutiny in recent months. The potential takeover of Newport Wafer Fab by Nexperia, which is owned by a Chinese state-backed company, has raised eyebrows in [...]
UK risks moving backwards in science amid government turmoil, say industry leaders July 21, 2022 The government’s pledge to make the UK a science superpower by 2030 is in “disarray”, after the minister responsible resigned earlier this month. Science minister George Freeman exited his position on 7 July, amid a rebellion against prime minister Boris Johnson. Andrew Catchpole, chief scientific officer at London-listed Open Orphan, which ran tests on Covid-19 [...]
Brickability revenue and profit more than doubles amid record demand for homes July 21, 2022 British merchants Brickability has reaped the rewards of housebuilders’ steamroll in the property market, having had its revenue nearly triple in the past year. Housebuilders in the UK have rushed to take advantage of record property prices, in trying to up their completions despite raw material inflation and supply chain disruptions. Revenue surged 187 per [...]
Ocado losses swell as shoppers add less items to their baskets amid cost of living crunch July 21, 2022 Ocado has posted swelling losses after shoppers have added less items to their shopping baskets following the cost of living crunch and easing of lockdown restrictions. Losses widened to £211m, from £27.9m the year prior, for the six month period to 29 May, as customers tightened their purse strings as inflation surged past new 40-year [...]
Bosses at Countryside hail best quarter of the year amid C-suite turmoil July 21, 2022 Bosses Countryside Partnerships have hailed its latest trading quarter, after a turbulent start saw its CEO, and later its chairman, swiftly exit the company. The FTSE housebuilder’s adjusted revenue has grown 20 per cent to £219m in the three months to 30 June, up from £183m in the same period last year. However, in January, [...]
Franco Manca owner’s revenue soars over 100 per cent with post-lockdown demand July 21, 2022 Revenue at Fulham Shore, which owns Franco Manca and The Real Greek, has soared more than 100 per cent in the post-lockdown march back to restaurant dining. The London-listed hospitality giant mas made an operating profit of £6.7m in the year to 27 March, swinging from a £4.8m loss in 2021. Fulham Shore has unveiled [...]
City Moves: Who’s switching jobs in the Square Mile this week? July 21, 2022 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. Knight Frank Property consultancy Knight Frank has named its new head of farms a real estate, after Clive Hopkins retired after more than three decades with the firm. Will ‘Stan’ Matthews will oversee day-to-day management of [...]
Current space regulations leave businesses immune to liabilities worth billions July 21, 2022 Current space regulations mean that private companies are immune to the consequences of damages caused by their decommissioned tech in orbit, known as space debris, lawyers have told City A.M. “The liability for the collisions in outer space rests with the launching state of the spacecraft operator… It does not deal with private players per [...]
Property and rent price rises speed up as low stock and inflation grip households July 20, 2022 The pace of property and rental price rises in the UK has sped up, according to the latest figures, as a cost of living crisis shrinks household budgets. Rents in the UK rose by three per cent in the year to June, up from 2.8 per cent in the 12-months to May. House prices increase [...]
Patients expect more home deliveries for healthcare post-pandemic July 20, 2022 Patients in the UK now expect more home deliveries for prescriptions and tests, after the pandemic prompted a spike in demand for healthcare logistics companies. Same-day delivery business CitySprint, which makes deliveries for the NHS, found nearly half of healthcare decision makers said that expectations for service delivery have increased as a result of [...]