DS Smith wraps up year with robust revenues as price recovery offsets economic pressures June 21, 2022 Packaging specialist DS Smith has navigated difficult economic conditions with rising revenues and a boost in profits.
Ocado raises £575m as it looks to widen online grocery market share June 21, 2022 Online retailer Ocado has raised £575m in a share placing, rallying extra funds as demand dries up. The London-listed firm announced the placing after the stock market closed yesterday, revealing just hours later that it had met its quota. The placing auctioned off 72.3m shares at 795p — a nine per cent discount to yesterday’s [...]
City Moves: Who’s switching jobs in the Square Mile? June 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. Ontier Law firm Ontier has built out its London office with a new partner in its commercial litigation team. Amy Harvey, who will focus on asset recovery in cross-border disputes, will be Ontier’s third female partner hire in London in just [...]
To turbocharge our own EV revolution we must ensure affordability for all June 21, 2022 The starting cost of a brand-new Nissan LEAF, the electric vehicle launched at Nissan over a decade ago, is just shy of £30,000. For roughly the same price, you can pick up a used Aston Martin DB9 with around 50,000 miles on the clock. Of course, we are comparing apples with oranges, but it highlights [...]
Risk-averse investors need a bit of bravery to prove the UK is fertile soil for tech firms June 21, 2022 Are you a glass half empty or half full sort of person? What about when it comes to investing? With surging inflation, struggling economies, and slumping share prices, you would be forgiven for saying the former. But before we all become too pessimistic, it is important to remember that these are market issues – not [...]
An online sales tax would be a small hassle for Amazon, but a hard blow for our shops June 21, 2022 The Treasury is considering whether to introduce an online sales tax (OST) as a “means to rebalance the taxation of the retail sector between online and in-store retail”. A decision is expected in autumn – probably as part of the Chancellor’s Budget. If the government has any sense, it will run a mile from taking [...]
Nationwide races ahead of competitors with five per cent rates June 21, 2022 One of the UK’s biggest high street banks is offering savers a five per cent interest rate as competition among lenders to secure deposits heats up. Nationwide today has upped its rates on its FlexDirect account on balances up to £1,500 for the first year from two per cent, a more than double increase. The [...]
UK set to become largest entertainment and media market in Europe June 21, 2022 The UK is set to overtake Germany in becoming the biggest entertainment and media market in Europe.
UK’s cannabis industry could be worth more than £1bn by 2026, says new analysis June 21, 2022 The UK’s cannabis industry could be worth more than £1bn by 2026, according to new analysis, as countries across Europe begin to cash in on the blossoming industry. The research, by Prohibition Partners, comes as the country readies to host the Web Summit for cannabis next week, which will see industry leaders urge the government [...]
Letters: Our chance to shine June 21, 2022 [Re: Brexit offers opportunity to unlock City’s potential, MPs say, June 16] Results of the report published by a cross-party group of MPs last week provide the best Brexit-related news in a while. Now London must deliver on its potential to cast off the regulatory shackles and reinvigorate its global reputation as a centre of [...]
