Investec rolls out £350m share buyback as revenues jump November 17, 2022 Investec said it would roll out a share buyback programme today
Crest Nicholson halts opening of new division as forward sales slow November 17, 2022 British housebuilder Crest Nicholson has halted the opening of its third new division as interest rates dampen the desire to buy a home. The FTSE250 housebuilder is not the first to voice caution over rising rates, which have pushed up mortgage costs for many – deterring Brits from jumping onto the property ladder. Forward sales [...]
Royal Mail calls for less letter days as it claws way out of strike action November 17, 2022 Royal Mail has asked the government to cut its letter delivery service from six to five days as the beleaguered firm attempts to claw itself out of financial crisis. The former state-owned company, also known as International Distributions Services (IDS), called on ministers to reduce the letter numbers to ensure the “long-term sustainability” of the [...]
City Moves: Who’s switching jobs in the Square Mile this week? November 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. Hero Labs Waterloo-headquartered Hero Labs, a manufacturer of water management devices, has appointment a new CEO. Adam Williams brings experience from scale-ups and large tech firms, including Samsung and Sony. He will succeed Steve Moore when he [...]
Exclusive: Ambl app for restaurant reservations secures £2.3m cash injection November 17, 2022 A pair of childhood best friends hope to become the Uber or Gorillas of Londoners’ nights-out, after cinching £2.3m funding. Tech start-up Ambl, which was founded by Essex entrepreneurs Aaron Solomon and Jed Hackling, helps diners find an eleventh hour reservation. The app has secured £2.3m in seed capital, with investors including Jon Spiteri of [...]
There’s no sugar for spending cuts, but we must avoid the salami slicer November 17, 2022 Later today, the UK’s chief financial officer, Jeremy Hunt, will share his plans to balance the books and keep the UK solvent or, at least, investable. Managers everywhere will find this relatable. Most of us have needed to reduce costs, whilst keeping the show on the road, during recent years of pandemic, followed by this [...]
The taxman cometh: Hunt to deliver toughest Budget in years today November 17, 2022 Jeremy Hunt will launch a vicious round of tax hikes and spending cuts today as he vows to “deliver strong public finances”. The chancellor tonight said “families across Britain make sacrifices every day to live within their means” and that “so too must governments” as he prepared to lay the ground for a second round [...]
Let’s be honest, we can’t blame today’s financial pain on Liz Truss’s mini budget November 17, 2022 Chancellor Jeremy Hunt’s Autumn Statement is expected to contain a gloomy mixture of tax hikes and spending cuts. We will be told this is absolutely necessary to plug the fiscal hole left by the Truss government. The latest estimate is that the government is looking for up to £60bn a year by 2027-28. Last weekend [...]
24 hour city: Bromley, Vauxhall and Woolwich named as London’s nighttime enterprise zones November 17, 2022 City Hall has announced Bromley, Vauxhall and Woolwich as recipients of a new cash pot to boost high streets at night time, helping businesses stay open for longer into the night. The Mayor of London’s office said a £0.5m fund would boost the economies of these parts of London after 6pm – with a package [...]
London pays its way in the economy, Treasury needs to remember to pay us back November 17, 2022 After three prime ministers in as many months, it’s been hard to keep up with the government’s positions. Fracking, triple lock pensions, levelling up – out, in and out again – like a kind of policy hokey cokey. Today, at least, we will get some clarity on the fiscal plan of the new government, after [...]
