Explainer-in-brief: Politicians dalliance with the celeb limelight November 3, 2022 The scandal of the week seems to be Matt Hancock having the Tory whip removed after announcing he would appear on the reality TV show “I’m a Celebrity”. The ex-Health Secretary is not the first politician to appear on the show – Nadine Dorries went on in 2012, famously eating kangaroo testicles. Boris Johnson’s father [...]
Sorrell tells ad land to calm down about Elon Musk’s Twitter November 3, 2022 Despite the pandemonium caused by Elon Musk’s takeover of Twitter last week, there is one media mogul who seems largely unfazed by the news. S4 Capital chief and former WPP boss Sir Martin Sorrell underplayed the $44bn takeover and said that Facebook owner Meta was the one to watch when it came to the future [...]
Savills warns of ‘acute’ house price plunges in London next year November 3, 2022 Savills, one of the biggest estate agents in the UK, has warned of an “acute” drop in house price value in London next year. A dreaded combination of higher mortgage rates and the cost of living crisis will fuel the price drop, the company said. The average cost of homes in the outer prime London [...]
London financial firm Ebury in FCA-mandated regulatory probe November 3, 2022 A celebrated London fintech has been forced to open itself up to an investigation into its anti money-laundering controls, City A.M. understands. Victoria-HQed Ebury, which is majority owned by Santander and was valued at around £600m at the time the Spanish giant bought in, is the subject of a ‘Section 166’ order by the Financial [...]
Working from home sees London karaoke bars enjoy rise in Sunday Fundays November 3, 2022 Londoners are staving off the Sunday Blues with karaoke nights – taking advantage of an extra lie-in on work-from-home Monday mornings. Charlie Elek, the managing director of Lucky Voice, a capital-focussed karaoke chain, told CityA.M. that a rise in hybrid working had “worked in our favour”. The number of punters through the door at his [...]
Revenue climbs for Smith & Nephew as efficiency plan comes good November 3, 2022 Smith & Nephew reported steady revenue growth this morning, with its efficiency plan starting to pay off. Revenue climbed 4.8 per cent for the medical equipment maker to $1.25bn, with all franchises and geographies contributing. Full-year underlying revenue growth currently expected in middle of previously guided range of four to five per cent. Smith & [...]
Trainline’s earnings triple as rail sector continues recovery from Covid-19 November 3, 2022 Ticket seller Trainline today said its earnings are up three-fold compared to 2021 amid the rail industry’s recovery from Covid-19. The online coach and train ticket seller said its revenues had increased more than two times over to £2.16bn, in an uptick that saw its adjusted earnings triple to £45m. The London headquartered company generated [...]
Defence sector boosts Rolls-Royce as Asia recovery lags under Covid-19 November 3, 2022 Aerospace giant Rolls-Royce’s recovery continues to lag in Asia due to ongoing Covid-19 measures, as the firm makes headway again in the US and Europe. The London-listed company, which builds jet engines, has been particularly vulnerable to supply chain disruptions and inflation, as it continues to restore back to full health following the pandemic. Rolls-Royce, [...]
BT hikes cost savings target as profits dip amid inflation and strike action November 3, 2022 BT confirmed it would be upping its cost savings target from by £500m this morning, as the UK’s biggest telecoms firm fends off inflationary pressure. In its half year results, the FTSE 100 company said profit before tax hit £800m, down 18 per cent on the previous year. Although revenue climbed a humble one per [...]
As Octopus reaches its tentacles into Bulb, a new Big Six is on the horizon November 3, 2022 Octopus Energy's takeover of Bulb signals the creation of a new Big Six, and an increasingly difficult market for challengers.
