Tesla temporarily freezes production at California assembly plant February 25, 2021 Tesla, Elon Musk’s electric vehicle company, has told workers it will temporarily freeze parts of production at its assembly plant in California. Workers on a Model 3 production line in the California-based Fremont factory were told their line would be down from Monday until 7 March, according to Bloomberg. Impacted staff expected to take holiday [...]
Lender Amigo swings to a loss, cuts staff and awaits approval of compensation scheme February 25, 2021 Loans lender Amigo sees complaints skyrocket 707 per cent as it swings to a loss
Exclusive: Purity Hemp CEO on the UK’s fast-growing medical cannabis market February 24, 2021 After losing his sister to cancer and his best man to an opioid addiction, Canada-born, London-based Michael Walker felt he should explore alternative healthcare options so not to rely on Big Pharma. The former head of marketing at Heathrow Express left the advertising industry in 2016 to set up his own company, the Purity Wellness [...]
City Moves February 24th: Who is switching jobs in the Square Mile this week? February 24, 2021 Snakes and Ladders provides a roundup of the most important hires and job moves across the City, every Wednesday afternoon. Email citymoves@cityam.com to be featured. This week we see appointments to the British Property Federation ahead of a pinnacle year for the high street. Deloitte has welcomed a fresh lead to the firm’s creative branch which launched in [...]
Pound soars to pre-pandemic heights against euro amid vaccine rollout February 24, 2021 Pound soars to pre-pandemic heights against euro amid vaccine rollout
Plant-based milk company Oatly files for US IPO February 23, 2021 Plant-based milk company Oatly, which is backed by Oprah Winfrey, today said it had confidentially filed for an initial public offering (IPO). The IPO marks a profitable era for plant-based alternatives, which flies in the face of the EU’s ban on using marketing terms such as ‘oat milk’ or ‘vegan cheese’ last year. A source [...]
Air Partner takes home £11.5m from Covid-related services despite travel restrictions February 22, 2021 While most flights were grounded, aviation group Air Partner has enjoyed a profitable year, taking home £11.5m due to its ferrying of PPE throughout the pandemic. The strong profits followed the group’s buy-up of CHS Engineering (CHS) at the end of 2020, which brough new consultancy services and baggage system testing ahead of new rules [...]
Review into Hong Kong’s only independent broadcaster sparks media freedom concerns February 19, 2021 A Hong Kong government review launched today into the city’s only independent broadcaster has sparked concerns over media freedoms in the region. The publicly funded outlet Radio Television Hong Kong (RTHK) was found to have editorial management “deficiencies” and inadequate transparency of complaints following an unprecedented government-led review. Founded in 1928, the broadcaster is the [...]
UK PMIs: UK firms fare less badly than expected February 19, 2021 UK firms had a more positive February than anticipated so far, with firms eyeing growth prospects later in the year as the vaccine roll-out continues. The IHS Markit/CIPS purchasing managers index (PMI) jumped to 49.8 in February from 41.2 in January, a far swifter improvement than what was originally feared. The index indicated some stabilisation [...]
REC: Recruitment is £7.7bn key to economic bounce back February 18, 2021 Recruitment is the key to economic recovery, the Recruitment & Employment Confederation (REC) has said today, as recruitment firms boost productivity by £7.7b each year. However, far more can be achieved as new research found that only half of people think that companies are doing a ‘good job’ at recruiting efficiently. A below standard hire [...]
