UK inches closer to first coal mine in three decades April 24, 2022 Michael Gove is reportedly inching closer towards approving a new coal mine – Britain’s first in 30-years – as the government looks to cut its reliance on Russian energy imports. The levelling up secretary is understood to be supportive of plans to open a Cumbrian deep coal site, Conservative sources told The Telegraph, which will [...]
Business of Space: Reusable rockets, space junk and new markets ‘ripe for overhaul’ April 23, 2022 City A.M.’s Millie Turner offers up a roundup of the most important news across the space industry, every Friday. This week: D-Orbit to supply key parts for ESA rocket The US says no to space junk Satellite connection on place ‘ripe for overhaul’ D-Orbit inks fresh supply deal D-Orbit has cut a deal with Beyond Gravity to deliver critical tools and [...]
Housing stock running dry triggers market slowdown, new data suggests April 22, 2022 Homes changing hands has drastically slowed since the beginning of the year, with the market running dry of properties, according to the latest data. The number of properties up for sale has plunged a third, compared to stock levels available before the pandemic, research by Savills and data analyst TwentyCi has found. The UK’s property [...]
Disney to lose special tax status in US after opposing ‘don’t say gay’ bill April 22, 2022 Disney could be stripped of its special tax status in the US, after opposing Florida’s controversial ‘don’t say gay’ bill. The proposed state law limits the teaching of LGBTQ+ issues in schools, which Disney eventually condemned following scrutiny. Florida politicians have given legislative approval to removing Disney’s designation as a self-governing entity, which allows it [...]
Ray-Ban maker enjoys spike in revenue ahead of a summer with fewer restrictions April 22, 2022 Eyewear group EssilorLuxottica SA, the maker of Ray-Ban, has enjoyed a spike in revenue over the past three months, as consumers gear up for summer. The French-Italian retailer snagged a cool £4.67bn in the first quarter of the year, up more than a third year-on-year, with consumers more likely to be making trips abroad this [...]
Cost of living crunch looms as retail sales continue to fall April 22, 2022 The UK’s cost of living crisis is increasingly showing signs in consumer spending habits, with retail sales volumes continuing their descent, according to the latest figures. Sale volumes shrank by 1.4 per cent in March 2022, following a fall of 0.5 per cent dip in February. However, sales volumes were 2.2 per cent above their [...]
City Moves: Who’s switching jobs in the Square Mile? April 22, 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. BDO BDO has bolstered its financial services team with a new partner, which will be the accountancy and business advisory firm’s fifth dedicated finserv partner in the last year. Rahoel Patel, who joins the firm’s transaction services team, brings more than 15 years’ experience of advising both [...]
Global consumers hold back on lifestyle changes to shrink carbon output, says Ipsos April 22, 2022 Despite climate-anxiety on the rise, global consumers are holding back on making the lifestyle changes necessary to dial back their carbon emissions, according to a new study by one of the world’s largest market researchers. Around 45 per cent polled are mulling making the switch to a low-carbon heating system for their homes, Ipsos found. [...]
Shares in London-listed mining firms tumble amid production shortfalls April 21, 2022 Spiralling costs, supply chain woes, and rampant inflation have piled on the misery for London-listed mining firms.
Bank of America bets on Singapore as Hong Kong curbs lead to ‘brain drain’ April 21, 2022 Bank of America is reportedly shifting some of its dealmakers from Hong Kong to Singapore, as Beijing’s touch stance of Covid-19 muddies the water in the financial hub. Dominic Tan, co-head of Asia consumer and retail investment banking, and Anastasios Pefanis, who head’s the equity capital markets syndicate in the Chinese city, are among top [...]