AO World shares plummet 17 per cent as EBITDA dips October 1, 2021 Leading online electrical retailer AO World has seen its share price plummet after publishing lukewarm post close trade results. AO World’s share price slipped by 17.57 per cent compared to yesterday’s close price with shares trading at 179.2p after the company revealed that supply chain disruption had affected intake in the first half of the [...]
Winners crowned at the Crypto A.M. awards October 1, 2021 The Crypto A.M. summit was topped off with a glittering awards ceremony recognising some of the most innovative projects in the sector. Last night 14 category winners were honoured at a black-tie awards ceremony, held at the Leonardo Royal Hotel in St Pauls, London. “The quality of the entries this year was fantastic,” said head [...]
Sit down: The CEO of the UK’s first-ever space flight regulator October 1, 2021 The UK’s recently unveiled space regulations mark a “really important milestone” for the country as an island emerging from a pandemic following Brexit, the boss of the UK’s aviation watchdog has told City A.M. Civil Aviation Authority (CAA) boss Richard Moriarty – the regulator now responsible for space flight – explained fresh rules governing the [...]
Holiday-goers could fork out as much as £105m on airport drop-off fees next year October 1, 2021 Holiday-goers leaving the UK could fork out as much as £105m in airport drop-off fees once traveller numbers return to pre-pandemic levels, according to new research. Most of the country’s busiest airports charge such fees, with the average cost standing at £3.54 – while Heathrow is set to introduce a £5 fee from November, the [...]
Greencore lifts profit expectations following strong Q4 performance October 1, 2021 Convenience food manufacturer Greencore Group has lifted expectations for its full year financials amid surging demand for food to go. On the back of strong Q4 results for 2021, which saw revenues climb 27 per cent year on year, the company said it anticipates operating profit for FY21 to be towards the upper end of [...]
Stagecoach workers plan strike action amid pay dispute October 1, 2021 Britain’s transport union has confirmed Stagecoach bus drivers will go on strike later this month amid a dispute over pay. The national union of transport workers, RMT, today confirmed it is serving notice for strike action on Stagecoach buses in the South West, East Midlands, Derbyshire and Yorkshire. The strike, which will take place on [...]
Wetherspoons blames ‘draconian’ Covid rules for poor financial performance October 1, 2021 J.D. Wetherspoon defended a poor financial performance saying pubs had faced an “impossible burden” during the pandemic Revenue from sales tumbled by -38.4 per cent to £772.6m, the lowest level since 2003, and the company made a record loss of £154.6m after tax. Investors were hit hard, with losses per share jumping by 256 per [...]
Capitalism is doing the heavy-lifting on greening our climate October 1, 2021 As on-the-nose metaphors go, the entirety of Britain’s climate class being unable to get to Glasgow on time because of a tree falling onto the train tracks is right up there. Let us hope it is not an omen for the rest of the Cop-26 conference. Our expectations are, to be frank, low. It is [...]
City Moves: Who’s switching jobs in the Square Mile today? October 1, 2021 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. L.E.K. Consulting L.E.K. Consulting has elected its next Global Managing Partner – the top leadership position in the partnership. Based in London, Clay Heskett has been elected to the global leadership position from the management consulting firm’s [...]
Hospitality sector urges Chancellor to freeze VAT at current rate to aid recovery October 1, 2021 Hospitality bosses have called on the Treasury to introduce a permanent lower rate of VAT to aid pubs and restaurants’ Covid recovery. The tax on pubs and restaurants rose from 5 per cent to 12.5 per cent today, following the temporary reduction introduced during the coronavirus pandemic. The Treasury’s goal is to return the tax [...]
