WeWork cuts office space in a bid to save cash November 10, 2022 WeWork has announced it would be closing some of its US offices in a bid to save costs and boost profitability. Announcing its third quarter results, the flexible office space said it would be shutting about 40 “underperforming” offices in the US, comprising of approximately 41,000 workstations. WeWork said that although these closures are expected [...]
Markets cheer US inflation slowdown as Nasdaq flies over five per cent November 10, 2022 Global markets have cheered signs that US inflation is falling much faster than experts expected, dialling down pressure on the Federal Reserve to keep hiking interest rates aggressively. Wall Street’s tech-heavy Nasdaq index flew more than five per cent, while the S&P 500 and Dow Jones shot up more than four per cent and nearly [...]
AstraZeneca boss urges UK government to invest in medicines of the future November 10, 2022 The chief of AstraZeneca has urged the UK government to invest in the medicines of the future, as the regulatory environment for pharma in the US grows tougher. With the UK’s upcoming budget, CEO Pascal Soriot called on the government to protect the funding for innovative treatments as the long-term outlook for the healthcare industry [...]
Train drivers at 12 operating firms to strike on 26 November November 10, 2022 Train drivers at 12 operating firms including the London Overground will strike on 26 November. The industrial action was announced by Aslef union members in a long-running dispute over pay. This comes as London tube workers walked out today bringing the London Underground to a grinding halt. ASLEF members at 12 companies will walk out [...]
Labour calls for business rates relief in Hunt’s autumn statement November 10, 2022 Labour has called for Jeremy Hunt to provide tax relief for small businesses in his autumn fiscal statement as firms stare down rates hikes in April. Labour deputy leader Angela Rayner told City A.M. today that the chancellor “must” next week axe the planned inflation-linked increase to business rates, while calling for a complete tax [...]
‘Show restraint on pay’, fund managers tell FTSE bosses November 10, 2022 Fund managers are urging the UK’s top bosses to rein in their pay this year as the economy is rocked by a cost of living crunch.
Police made almost 2,500 arrests of environmental protestors in past year November 10, 2022 The Police have arrested more than 2,400 activists from environmental groups in the past year, it has been revealed. Almost seven campaigners a day have been detained from Just Stop Oil, Extinction Rebellion and Insulate Britain groups, between 3 November 2021-2. The figures were obtained by a Freedom of Information Request from City A.M., but [...]
Bus drivers in south and west London to strike for 10 DAYS over next six weeks November 10, 2022 Bus drivers in south and west London are set to strike for 10 days over the next six weeks in a dispute over pay against Dutch owner Abellio. This comes on the heels of today’s tube strike, which saw members of the union RMT walk out over pensions and jobs. The union Unite announced today [...]
Domino’s pins hopes on World Cup boost and Just Eat tie-up after VAT hit eats away sales November 10, 2022 Domino’s Pizza said this morning the company saw sales fall after a VAT hit and as it came up against last year’s boost from the Euro football tournament, but is eyeing a strong end to 2022 amid the upcoming World Cup. The UK and Ireland takeaway pizza giant saw like-for-like system sales, excluding so-called split [...]
Auto Trader’s revenue jumps as booming market place gets double-digit boost November 10, 2022 Auto Trader’s group revenue has jumped 16 per cent as a result of a double-digit growth in its marketplace business. In the six months ended 30 September, the car retailer posted a £249.8m revenue, up from last year’s £215.4m. While Auto Trader’s marketplace posted an 11 per cent increase in revenue, going up to £238.2m. [...]