WPP profits tumble 51 per cent as advertising giant shifts focus to AI plans August 4, 2023 The world’s biggest advertising firm WPP reported a “resilient” performance in the first half of the year despite plunging profits as they start to build out AI plans. WPP reported profit before tax for the first half of 2023 dropped 51 per cent to £204m, compared to £419m compared to the first half of 2022. [...]
Reeves: Latest interest rate hike is a ‘hammer blow’ which did not need to happen August 4, 2023 Shadow chancellor Rachel Reeves has labelled the latest rise in interest rates as a “hammer blow for working people” which did not need to happen. The Bank of England raised the base rate for the 14th time in a row on Thursday, taking it to 5.25% in a bid to bring inflation under control. The [...]
Sadiq Khan expands London ULEZ scrappage scheme in wake of Uxbridge by-election loss August 4, 2023 The Mayor of London has announced a major expansion of financial support designed to ease the impact of the capital’s ultra low emission zone (Ulez) on people’s pockets. Sadiq Khan said every Londoner with a polluting car facing charges under Ulez will now be able to receive a grant of up to £2,000 to support [...]
Bank of England finally administers bitter medicine to treat inflation August 4, 2023 The City has been ahead of the Bank of England’s thinking for some time. Economists have for months known interest rates are set to stay higher for longer. Most expect them to peak at 5.75 per cent and stay there for, probably, at least a year. Governor Andrew Bailey and co have woken up to [...]
Pay households to back new electricity lines, urges former National Grid chief August 4, 2023 A new report has urged the government to offer lump sum payments to households and communities to ensure the rollout of new electricity lines.
Gove’s housing plan is still stuck in a disjointed era of the suburbs vs the centre August 4, 2023 Even with a ‘bold plan’ for urban centres, Michael Gove’s housing plan doesn’t know how to connect the suburbs to the city, writes Jonathan Seager.
De-banking a threat to free speech, Hunt says as he asks FCA to investigate August 3, 2023 Chancellor Jeremy Hunt has asked the City watchdog to look into the extent of de-banking, as he said the practice poses a “threat” to free speech. It comes as banks face widespread reforms over account closures, after the Nigel Farage row that last week led to the resignation of the top bosses at Natwest and [...]
Minister encourages over-50s to embrace diverse jobs like delivering takeaways August 3, 2023 The Work and Pensions Secretary has suggested the over-50s should break free from age-related job stereotypes and embrace a wider range of career opportunities like delivering takeaways. Mel Stride’s comments came during a visit to the London headquarters of food delivery firm Deliveroo, which has recorded a 62 per cent increase in riders aged over [...]
Ranking Barbie movie merch from awful to making our skin crawl August 3, 2023 We’ve ranked Barbie movie merch so you don’t have to… I’m a Barbie girl, in a Barbie world, life in plastic, it’s full of Barbie Ketchup, Barbie Crocs, Barbie Airbnbs, Barbie burgers and Barbie pasta. Is it fantastic? At City A.M., we’ve ranked the most ridiculous Barbie movie merch we could find to let you [...]
Navigating a nudge on your crypto investments August 3, 2023 Danielle Ford and Riocard Hoye of Haysmacintyre walk through and navigate the pitfalls of crypto tax nudges from HMRC.
