UK’s first cannabis-based medicines study gets green light in NHS April 7, 2022 LVL Health has launched the UK’s first regulatory approved clinical study for cannabis-based medicines, available on the NHS. The study is hoped to provide data which could open the door to deals within the NHS for cannabis medication for pain. It comes just days after the first medicinal cannabis company to list on London’s main [...]
The City’s Purple Pay called out by HMRC for promoting tax avoidance April 7, 2022 The City’s Purple Pay has been named and shamed by HM Revenue and Customs (HMRC) for promoting tax avoidance schemes. The taxman has revealed the names of companies which have promoted schemes to avoid paying tax for the first time today, warning users that they could face “large tax bills” unless they withdraw from them. [...]
Impact Capital Group snags approval for £350m development in Romford April 7, 2022 Impact Capital Group has snagged the first stage of approval for an ambitious £350m development in the heart of Romford, which will create new homes close to the forthcoming Crossrail station in Romford. Proposals will next be forwarded to the GLA for the second stage of approval and are subject to the finalisation of a [...]
Marshalls raises £187m to help fund Marley takeover April 7, 2022 Marshalls has raised £187m in an accelerated bookbuild, to help fund a more than £500m acquisition by the landscaping materials business. The capital raise offered nearly 29m shares for some 650p apiece and represented 11.4 per cent of its enlarged share capital. The takeover of the Marley Group, from Inflexion Buyout V Investments, will cost [...]
House prices jump to record £282,753 amid highest inflation since mid-2007 April 7, 2022 The average price of a home has jumped 11 per cent over the past year to a new record figure, according to the Halifax House Price Index. The average price of a house is now £282,753, a steep increase of £43,577 in just two years after the UK’s first Covid-19 lockdown. Prices have increased 1.4 [...]
City Moves: Who’s switching jobs in the Square Mile? April 7, 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. Tritax Group Logistics real estate investment manager Tritax has hired a new director of ESG, who will be based out of its London office. Alan Somerville, who acted as a consultant for the company at the beginning of the year, [...]
Avon Protection share price plunges more than 20 per cent after wrestling with rising costs April 6, 2022 Avon Protection shares have plunged, after the helmet maker warned investors of lower-than-expected profits in the first half of this year. The London-listed protective equipment provider has been wrestling with “additional manufacturing costs” in recent months, as global raw materials prices are engulfed by inflation. Supply chains have also been significantly stretched post-Brexit, with the [...]
US climate-tech startup plants dual HQ in London in a bid to woo Europe April 6, 2022 US climate-tech startup Watershed has planted a dual headquarters in London, in a bid to woo Europe. The San Francisco-based firm, backed by former US vice president Al Gore, has already partnered with tech heavyweights such as Klarna, Monzo, Wise and Revolut. Watershed, a software platform that helps companies with their net-zero emissions targets, has [...]
UK to send NHS ambulances to Ukraine as conflict hammers local healthcare April 6, 2022 The UK is to send NHS ambulances to the Ukrainian towns and cities under attack from Russia, the government confirmed today. The 20-strong fleet will replace local ambulances which have been lost to Russian bombardments, amid the Kremlin-backed invasion of Ukraine. Foreign secretary Liz Truss said: “We have sadly seen day after day the [...]
Exclusive: City heavyweights are top firms for career growth, says LinkedIn April 6, 2022 City headquartered firms have been named as the top companies to work at for career growth, according to LinkedIn research shared exclusively with City A.M. today. Barclays retained its crown, wrestling with Lloyds Banking Group and HSBC, which make the top three companies on the list – all with London HQs. Chasing the coattails of [...]