A European first: UK cuts technology trade deal with Singapore December 9, 2021 The UK has cut a technology-focussed deal with Singapore which looks to deepen trade ties with the Asian city-state. The Digital Economy Agreement seeks to play on the UK’s strength as a services exporter and will likely help London to continue muscling out continental rivals as the most technologically advanced city in Europe. International trade [...]
Victorian Plumbing shares plunge more than a third following earnings caution December 9, 2021 Online bathroom retailer Victorian Plumbing had its share price plunge more than a third today, after cautioning investors of flatter earnings in the year ahead. Revenue lifted nearly 30 per cent to £268.8m in the year to September 30, while its adjusted earnings jumped over 50 per cent to £40.1m. However, the company had warned [...]
Satellite firm begins work on UK’s first new rocket launch site in 50 years December 9, 2021 Satellite firm Orbex has started construction on a new rocket launchpad, which will be the UK’s first in more than half a century. The launchpad, in collaboration with Motive Offshore Group, is due to be based in Scotland, close to the Orbex headquarters in Forres. And the countdown for launches has already begun, with rockets [...]
DWF reaps rewards of business streamlining, as it eyes Middle Eastern expansion December 9, 2021 Legal group DWF has enjoyed a financial uplift after streamlining the business last year, as it looks to expand in the Middle East. Revenue inched 3.8 per cent higher to £203.5m in the six months to 31 October, while operating profit swung from an £8.9m loss in the same period last year to £13.6m. Net [...]
City Moves: Who’s switching jobs in the Square Mile today? December 9, 2021 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. UHY Hacker Young Accountancy group UHY Hacker Young has bolstered its London office with a new research and development (R&D) tax partner. Joining from East Midlands firm Duncan & Toplis, Kevin Edwards is set to advise on [...]
City A.M. PA Awards: This year’s pandemic-era winners December 9, 2021 City A.M.’s PA Awards crowned five winners on Wednesday, who were recognised for their dedication and effort to their businesses after a turbulent year. There was around eight times more nominations than in previous years, after personal assistants (PA) were among the “hardest hit” amid the pandemic, awards judge and founder of C&C Search Lucy [...]
Pfizer and BioNTech confirm third booster jab ‘neutralises’ Omicron December 8, 2021 The manufacturers of a coronavirus vaccine used across the world have today confirmed a third dose “neutralises” the Omicron variant. Pfizer and BioNTech said receiving a booster jab produces similar levels of protection against the virus yielded from two doses of the vaccine. “Results from an initial laboratory study demonstrating that serum antibodies induced by [...]
Japanese billionaire joins growing list of wealthy entrepreneurs heading for space December 8, 2021 Japanese billionaire Yusaku Maezawa has today joined the growing list of wealthy entrepreneurs in heading to space. Maezawa’s first launch, which will see him spend 12 days on the International Space Station, forms part of his goal to go to the Moon on SpaceX’s Starship in 2023. On the trip, via a Russian rocket, the billionaire [...]
Nestlé to shed 22m L’Oréal shares as part of new £16bn buyback program December 8, 2021 Nestlé is set to shed around 22m L’Oréal shares, as part of a share buyback program worth more than £16bn (CHF 20bn). The consumer goods giant will have reduced its stake in the beauty group to 20.1 per cent once the transaction has been finalised. The shares sale is expected to pull in some £7.5bn [...]
Hargreaves Services profits lift as it weathers revenue dip after ditching coal December 8, 2021 Hargreaves Services has weathered a revenue dip after ditching its coal trading activities last year – which has been slightly offset by its profit before tax growth. The firm, which works across industrial and property sectors, said the jump in profit before tax has been secured by each of its three business divisions. The board [...]
