Medicine market in Russia ‘stable’ as GSK commits to keeping up supply March 17, 2022 GlaxoSmithKline’s (GSK) will halt clinical trials in Russia but maintain the supply of essential medicines, following the Kremlin-backed invasion of Ukraine. The London-headquartered group has no manufacturing operations in Russia or Ukraine, while its supply chain and raw material access will be minimally impacted, according to Reuters. GSK follows Pfizer, who has pledged all its [...]
Sadiq Khan declares war on domestic abusers as mayor frees up fresh cash for London victims March 17, 2022 London Mayor Sadiq Khan has outline a new £11.3m cashpot for domestic abuse services, after reports rocketed during the pandemic. Around one in eight crimes recorded last year in the capital were domestic abuse reports, as Covid-19 lockdowns kept a number of crimes behind closed doors. “The new investment we’ve have announced today will work [...]
‘Financial institutions are losing patience’ with Hong Kong, admits Lam March 17, 2022 Hong Kong’s leader has admitted today that the city’s controversial ‘Zero-Covid’ restrictions are blocking out businesses and wearing down its residents. Carrie Lam has since been forced to reconsider the financial hub’s tough Covid-19 restrictions, while case numbers remain high – but are thought to have peaked. “The time has come” to review the measures, [...]
Ones to watch: UK home to nearly a quarter of Europe’s prospective unicorns March 17, 2022 The UK is home to nearly a quarter of Europe’s prospective unicorns for this year, according to research shared exclusively with City A.M. today. Firms such as Hammersmith-based moving company AnyVan, verification software firm Onfido and apprenticeships group Multiverse have been marked as ‘ones to watch’ by investment firm GP Bullhound and Viva Technology. Outside [...]
PensionBee doubles revenue as assets under management hit £2.6bn March 17, 2022 PensionBee has more than doubled its revenue over the past 12 months, as firm’s assets under management blossom. Assets under management have bloomed over 90 per cent to £2.6bn in the year to 31 December, up from £1.4bn in 2020. Revenue has also rocketed, from £6.3m to £12.8m, as the pandemic-era drive to get one’s [...]
Cineworld revenue skyrockets by $1bn as record-breaking blockbusters lure in viewers March 17, 2022 Cineworld revenue has skyrocketed by $1bn (£760m) in the past year, as record-breaking blockbuster releases such as Spider-Man: No Way Home lured in viewers. Revenue surged more than 111 per cent to $1.8bn (£1.3bn) in the year to 31 December, up from $852m, according to the theatre chain’s preliminary results this morning. Admissions rose over [...]
City Moves: Who’s switching jobs in the Square Mile? March 17, 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. Intuit QuickBooks Technology platform Intuit QuickBooks has hired a marketing veteran as its new UK marketing director. Based in London, Faith Wheller is set to bolster the firms growth strategy for the UK. Wheller, formerly of US tech [...]
Sweden refuses to launch research satellite on Russian Soyuz rocket March 16, 2022 Sweden has cancelled the launch of a research satellite via a Russian rocket, following the Kremlin-backed attack on neighbouring Ukraine. The launch was scheduled for the end of this year, after its initial scheduled launch in 2019 was delayed. “Preparing for a launch from Russia is unthinkable under the current circumstances,” a spokesperson for the [...]
Long way to go: Hong Kong Covid-19 spiral appears to have peaked, says Lam March 16, 2022 Hong Kong’s Covid-19 spiral appears to have peaked, but there remains a long way to go for the finance hub as it ushers in extra medics from the mainland. The city of 7.4m people reported 29,272 new infections on Wednesday, and recorded 217deaths, compared with 228 in the previous 24 hours. Hong Kong leader [...]
China to dial back crackdown on overseas listings as markets leap March 16, 2022 China is set to ease its crackdown on overseas listings following months of market volatility and work with the US to reach an agreement on audit requirements. The China Securities Regulatory Commission confirmed today that China will communicate with US regulators to usher in greater cooperation between the pair. The government will begin to “actively [...]