Nexo sued by investors prevented from withdrawing £107m crypto holdings in full November 21, 2022 A family of fintech entrepreneurs are suing a leading crypto exchange over claims it blocked them from withdrawing funds and then intimidated them into selling them back to the company at a discount. The three crypto investors have filed a High Court lawsuit against London headquartered Nexo over claims it stopped them from withdrawing more [...]
Explainer-in-brief: Is Twitter really a dead man walking? November 21, 2022 When Elon Musk bought Twitter, many worried for the consequences on vulnerable users or those more likely to suffer abuse online, as Musk portrayed himself as a freedom of speech absolutist. But now that he’s taken ownership, the problem might be simpler: it’s not clear whether he has the acumen to keep the ship afloat. [...]
Europe’s largest battery storage system unveiled in the UK amid net zero push November 21, 2022 Europe’s largest battery energy storage system by megawatts per hour will be officially online from today, marking a new era in power diversification in the UK. Harmony Energy Income Trust, which invests in battery energy storage assets in Britain, today unveiled its first portfolio project of 196 MWh in Pillswood, East Yorkshire – which uses [...]
C’mon England: Pub bosses set to be the Three Lions’ biggest fans November 21, 2022 Pubs are hoping for a wintry windfall thanks to the World Cup kicking off this week. The country’s boozers are hoping that England’s first match versus Iran this afternoon will draw in crowds on a traditionally quiet trading day. The football tournament typically draws in £155m for pubs when held in the summer months. Pubs [...]
Virgin Money shares soar after handing staff 10 per cent pay rise November 21, 2022 Virgin Money shares have jumped today after the company handed out 10 per cent pay rises to most of its 7,500 staff. The pay bump comes on top of a £1,000 one-off payment in August to help combat the cost of living crisis. Staff will receive around nine and 11 per cent extra across two [...]
Fears of tougher restrictions sweep China after first Covid death in months November 21, 2022 Fears of tougher restrictions have reignited across China today, after the country recorded its first Covid-19 death in six months. On Sunday, an 87-year-old man in Beijing died as infections across the country spike. Beijing has in recent days moved to confine some residents to their homes and ordered others to quarantine centres. Markets fell [...]
Issa brothers’ LEON to more than double number of Asda coffee kiosks November 21, 2022 LEON is to more than double its self-serve coffee kiosks in the UK over the next couple of months, as the Issa brothers’ on-the-go food operator expands. The chain, which sells healthier alternatives of fast-food and is owned by the billionaire brothers behind supermarket Asda and petrol forecourt operator EG group, is to expand its [...]
Sirius Real Estate optimistic after utility prices protected and acquisition pipeline slowed down November 21, 2022 Industrial park owner Sirius Real Estate has said it will be protected from the monster operating costs facing the industrial sector due to securing a large chunk of fixed price contracts for utilities. In interim results, the property firm said it was trading in line with management expectations for the full year and undeterred by [...]
City Moves: Who’s switching jobs in the Square Mile? November 21, 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. Starcom Media agency Starcom, part of Publicis Media, has hired into the newly formed role head of planning. Lin-Sze Teh is set to oversee a team of 80 planners and report to CEO Nadine Young when she [...]
Excl: London’s offices aren’t dead but will continue to feel Covid side effects ‘in immediate future’ November 21, 2022 Reports of the death of the London office have been greatly exaggerated – but policymakers must step up to ensure workers are encouraged to come to their desks. That’s the conclusion of a new report from Central London Forward, the partnership representing the city’s 12 central local authorities. Although the take-up rate of office space [...]
