House prices rise but annual growth slows to 7.6 per cent as ‘steadier period’ predicted August 6, 2021 Houses prices rose again in July but slower annual growth suggests the market may be ‘cooling’, according to Halifax House Price Index data published today. The average cost of a property in the UK is now £261,221, up 0.4 per cent from June, adding £1,122 to the price of an average house. Annual growth fell [...]
To infinity and beyond – for $450,000, Virgin Galactic says August 6, 2021 Sir Richard Branson’s Virgin Galactic will charge passengers $450,000 (£323,500) for a seat on one of its space flights, the firm has announced. The company reopened ticket sales last night, just weeks after its founder successfully completed a flight to the edge of space. At $450,000, tickets are now twice the price paid by 600 [...]
Former Bain consultant hired by Pope to evaluate a Vatican administrative office August 6, 2021 Pope Francis has reportedly brought on a former Bain & Company consultant to help execute a new reform package in the Vatican. Pier Francesco Pinelli, now a partner at an Italian consulting firm, spent seven years as a senior manager at the big three firm’s Italian wing. Chicago’s Cardinal Blase Cupich was asked by the [...]
More than 17,000 outdoor seats added to English streets in al-fresco boom August 6, 2021 Pubs and restaurants have made space for more than 17,000 extra customer seats outside with Westminster processing one third of total pavement licence applications. More than 3,300 fast track applications for pavement licences were lodged by cafes and restaurants as ministers pledged to slash red tape and make the process cheaper and quicker. PwC analysed [...]
EP: 78 Ascot Shergar Cup Day & Haydock Park August 6, 2021 The annual Shergar Cup at Ascot brings together jockeys from all over the world, competing in 6 races, each with 10 runners. French jockey Mickaëlle Michel tells us just how excited she is to be riding at the famous Ascot track for the first time in her short career. City A.M. racing editor Bill Esdaile [...]
Exclusive: Cult Beauty founder Jessica DeLuca on selling to THG and what happens next August 6, 2021 In the thirteen years since launching online cosmetics retailer Cult Beauty, Jessica DeLuca and Alexia Inge grew the business from £72,000 to £275m – the amount it sold to The Hut Group (THG) for this week. Jessica DeLuca, a former IT analyst, worked in the spare bedroom of her basement flat through 2007 building the [...]
Private equity needs to start speaking up for itself – it could be the key to ‘levelling up’ August 6, 2021 Private equity’s reputation is once again in the spotlight. With the supermarket Morrisons in the industry’s crosshairs, the public memory is reminded of previous scandals involving other household names. The multi-billion-pound bidding war for a major employer, headquartered in the north of England, has understandably attracted the interest of ministers and opposition politicians sensitive to [...]
The recovery requires more capitalism, not less August 6, 2021 Last week, the US tech giants reported profits the size of a small country’s GDP. At around the same time, news broke that Conservative donors were paying to bend the ears and influence the policies of our Prime Minister and Chancellor. It wasn’t hard to conclude that something is rotten in the state of capitalism [...]
Huawei revenues collapse nearly a third as it peddles against US sanctions August 6, 2021 Chinese telecoms giant Huawei Technologies has watched its revenue collapse by almost a third so far this year, as it peddles against the waters of US sanctions. Revenue hit $49.5bn in the six months to June, down 29 per cent, the group reported today. With its handset business struck by US sanctions, the UK’s decision [...]
Wildfires put pressure on insurance premiums as blazes surge August 6, 2021 Destructive wildfires across the globe have caused insurance premiums to rise in value of claims and is set to continue as trends show wildfires are more likely to occur, according to British insurance company Chaucer. The insurance and reinsurance firm discovered US Wildfires have become an increased occurrence since the 2000s. Over the last 15 [...]
