MPs warn of ‘huge financial losses’ as scam ads left out of online safety laws July 23, 2021 A string of cross-party MPs have blasted the government’s failure to include paid-for adverts in its upcoming online safety laws, warning of “huge financial losses” to the public. In a joint letter to the prime minister, the Treasury Committee and the Work and Pensions Committee said fraudulent online ads were doing immense harm and urged [...]
Mattress maker Simba posts record profits as rival store closures cushion sales July 23, 2021 London-based sleep-tech company Simba has posted its highest ever half-year profits, as rival store closures cushioned sales. Simba’s first-half sales soared 130 per cent in the weeks to 30 June, in comparison with the same period in 2020. The company, which focuses on mattresses, had already seen strong sales growth of 66 per cent last [...]
Crypto is a risky business – but we can make our own financial decisions July 23, 2021 Bitcoin is holding steady above $32,000 as we close in on the weekend.
Exclusive: London Mayor Khan warns lack of supply in capital pushes up property prices July 23, 2021 The Mayor of London, Sadiq Khan, warned that London’s house price hikes are primarily caused by a lack of available properties. “The main reason is the lack of supply to meet demand. And so what we’ve got to do is increase the supply of all forms of housing in London to meet the demand,” Khan [...]
Cobham locks on to rival Ultra with £2.6bn takeover offer July 23, 2021 The board of defence firm Ultra have this morning signalled their approval of a £2.6bn takeover bid from rival FTSE 250 company Cobham. In a statement, the firm said that it had received a £35.00 per share non-binding offer from Dorset-headquartered Cobham, which it said was “at a value the Board would be minded to [...]
Why we must resurrect the tie from this boorish open-collar culture July 23, 2021 Since the general demise of hats, the most vulnerable, because the most superficially dispensable, piece of a gentleman’s wardrobe is the tie. In politics, we have perhaps David Cameron to blame for pioneering the look of dark suit and open-necked white shirt which may have been a carry-over from his days in public relations. For [...]
EP: 73 Ascot King George Day July 23, 2021 Ascot hosts a fantastic renewal of the King George on Saturday, with the return of this year’s Derby winner Adayar up against the brilliant Irish raider Love. Stuart Williams runs Desert Dreamer in the Group 3 Keeneland Stakes on the same card and he joins us as our special guest today. City A.M. racing editor [...]
Listed luxury: Ermenegildo Zegna’s decision to go public comes at a crossroads for high-end fashion July 23, 2021 Luxury Italian brand Zegna has decided to go public via special purpose acquisition (SPAC), in an interesting blend of the old and the new. The move to go with a listing model that some still consider untested for the long term comes after a track record of over a century of excellence in high quality [...]
Energy sector hits out at automatic switching plans July 23, 2021 The energy industry has reacted with dismay to the government’s plans to tackle the so-called “loyalty tax” on energy customers. Under proposals laid out this morning, the government will trial automatic switching to move customers on expensive default energy tariffs to cheaper deals. From 2024, consumers on costly tariffs would be automatically switched to cheaper [...]
Poundland owner to create 13,000 jobs as it eyes online retail expansion July 23, 2021 The Pepco Group, which owns Poundland, has tabled plans to create 13,000 new jobs across Europe over the next three years. The discount group’s boss Andy Bond told Reuters that it is betting on shoppers flocking to less expensive stores amid pandemic-induced inflation. Unlike most retailers over the pandemic, the discount chain group has not [...]
