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 [...]
Redesigning the global financial infrastructure for the digital-age August 6, 2021 Since the ‘DeFi Summer’ of 2020, the DeFi market has grown by 40 times, with the Total Value Locked currently standing at $61B. Stablecoins, one of the major pillars of DeFi, almost quadrupled in the first half of 2021 to $112 billion. Novum Insights’ latest report Decentralized Finance: Re-designing the global financial infrastructure for the [...]
Greensill-linked fund investors to recoup another $400m from Credit Suisse August 6, 2021 Credit Suisse is set to reimburse another $400m to investors in its supply chain finance funds linked to Greensill Capital, the bank said today. The latest payout is the fourth instalment since Greensill Capital collapsed earlier this year, taking the total amount returned to investors to $5.9bn. Read more: Credit Suisse appoints new chief risk [...]
Ollie Phillips: Lions series win would be heroic in the circumstances but momentum has swung behind South Africa before deciding Test August 6, 2021 As the British and Irish Lions prepare for their series-deciding third Test, it feels like all momentum has swung behind South Africa. Fair play to the Springboks; they nailed their game plan in the second match last weekend. It was set-piece perfection allied to a moment of magic from Handre Pollard, whose cross-field kick set [...]
