RedCat acquires The Coaching Inn Group for undisclosed sum August 13, 2021 Former Greene King boss Rooney Anand has announced he will acquire The Coaching Inn Group under his investment vehicle. Red Cat will take on the estate of 18 sites for an undisclosed sum. The Coaching Inn Group operates historic coaching inns in market towns including in the Cotswolds, Peak District, Leicestershire, Staffordshire, and Cambridgeshire. Chief [...]
From grocery delivery to supply chains, the future of food tech is in flexibility August 13, 2021 Grocery delivery apps, promising to deliver food and drink in just 10 minutes, have become almost ubiquitous on London’s streets after more than a dozen launched in the last year. Venture-backed grocery companies have raised over $10bn so far in 2021, according to figures from Pitchbook. Less visible, but no less disruptive, we have also [...]
Foreign Affairs Committee Chair slams Western pullout from Afghanistan August 13, 2021 The chairman of the Foreign Affairs Select Committee, who served in Afghanistan, has heavily criticised the decision to pull out troops. In a series of emotional tweets conservative MP Tom Tugendhat said: “If you think I’m taking the news from Afghanistan badly and personally, you’re right.” “The decision to withdraw is like a rug pulled [...]
Disney emerges as streaming rival, elevating revenue above expectations August 13, 2021 Disney’s streaming service has emerged as a strong rival in the Netflix dominated sector, which has in turn elevated the group’s revenue above expectations. Revenue was up 45 per cent to £12.3bn in its third quarter – inching past analyst forecasts of £12.14bn. The entertainment giant pulled in £664m in net income in the three [...]
German MPs fail in bid to publish ‘dynamite’ report on EY’s Wirecard audits August 13, 2021 Germany’s highest court has rejected an attempt by MPs to force the publication of an unredacted report into EY’s audits of Wirecard, according to reports. The lawsuit was filed by MPs who had investigated the Wirecard fraud, one of the biggest corporate scandals, according to the Financial Times. The Federal High Court of Justice has [...]
Screenshot: Can the City harness the power of the Netflix model? August 13, 2021 This week **Media Moment of the Week: Victoria Derbyshire’s heels hiccup **Can the City harness the power of the Netflix model? **The CMA goes for GIFs Media Moment of the Week: Victoria Derbyshire’s heels hiccup Late on Wednesday evening prolific BBC presenter Victoria Derbyshire tweeted to say she’d be on air three times in a [...]
Hacker behind biggest ever DeFi attack returns $342m – CityAM : CityAM August 12, 2021 The hacker who stole $600m of assets from the Poly Network earlier this week has returned the majority of the money after sharing a bizarre self-interview. Poly Network has confirmed that $342 of the stolen millions have been returned to them as of today. $4.6m was sent as Ethereum, $252m was sent as BSC and [...]
London rent prices fall furthest for expensive central properties – CityAM : CityAM August 12, 2021 Rent prices have fallen by an average of 6 percent across London with expensive properties in the city centre seeing the biggest reductions. Data published by Zoopla for the year ending June 2021 revealed that Tower Hamlets saw the greatest reduction in rent prices of any London Borough. Prices are down 8.5 per cent with [...]
London hotel rooms empty as holidaymakers favour rural staycations – CityAM : CityAM August 12, 2021 London hotels have been dealt an unenthusiastic staycation trade while their regional counterparts have capitalised on international tourism constraints. Online travel platform Booking.com told City A.M. that while staycations were at the forefront of UK holidaymakers’ minds with travel restrictions not going anywhere, cities were not the top choice. “In terms of locations, it appears [...]
UK GDP soars in second quarter as Covid unlocking turbo-charges economy : CityAM August 12, 2021 The burst in consumer spending triggered by the gradual lifting of Covid prevention measures in April and May boosted the UK economy in the second quarter, according to fresh official data released today. Figures from the Office for National Statistics reveal the UK economy grew 4.8 per cent in the second quarter of this year, [...]
