Shipping titan CMA CGM creates £1.3bn fund to accelerate net-zero September 4, 2022 Shipping titan CMA CGM has created a $1.5bn (£1.3bn) energy fund to accelerate its transition to net-zero. “In the face of the climate emergency it is our duty to do more and accelerate our actions,” said chief executive Rodolphe Saade. The five-year fund will support the industrial production of renewable fuels as well as low-emission [...]
Matalan eyes up sale as British retailers continue to feel sting September 4, 2022 Matalan's founders are eyeing up a sale, as the fashion firm struggles to fight off inflationary pressure.
Sunday Sitdown: Grind’s CEO on conquering America with his cult coffee chain September 4, 2022 Londoners may recognise the Grind coffee brand. There are currently eight branches around the capital and a 15,000 sq ft roastery in Bermondsey. Despite a hit to cafe revenues during the pandemic, the company is taking its business model across the pond as City A.M. can reveal today Grind has ambitious plans to conquer the [...]
Weekend Read: As the Pound crashes to record low, what can be done to halt Sterling’s freefall? September 4, 2022 City A.M. reported yesterday that the pound is on course to plunge to a record low against the US dollar, largely driven by the UK tumbling into a tough recession. Sterling is expected to drop to $1.05 by the middle of next year, but could fall close to parity with the greenback, according to consultancy [...]
The crypto autumn brings storms to the eternal fiat winter September 2, 2022 Crypto AM's Monty Munford is basking in the crypto glow from the sun of York as he predicts a dark winter for fiat.
Bitcoin bear markets are a great time to build, but not with shocking US prices September 2, 2022 The price of Bitcoin continues to trade flat, remaining just above $20,000 where it has held ground since a six per cent drop last week.
Asset manager Ashmore suffers due to war, inflation and high rates but looks to improving conditions September 2, 2022 Emerging Markets asset manager the Ashmore Group suffered due war, inflation and higher interest rates, but hopes the next 12 months offers potential for better conditions. The group registered $64bn assets under its management but 13 per cent lower net revenue year-on-year for the year ending 30 June. Its statutory profit before tax declined by [...]
As our economy is squeezed from all sides, profit must not be a dirty word September 2, 2022 Over the last few weeks of the leadership election, we’re in danger of making profit a dirty word, as a myriad of problems threaten to engulf us. Recent figures have suggested the UK is headed for a chilling contraction; it is clear just how dangerous it would be if we failed to get growth back [...]
Tax cuts are not enough to help the small businesses facing crippling energy bills September 2, 2022 Households facing soaring energy bills have rightly been front and centre of the political conversation. But, as both candidates to become prime minister have pointed out, ultimately our prosperity depends on economic growth. And it’s through prosperity that the government acquires the ability to finance public services and support families in need. And, with GDP [...]
Manufacturing output sinks at fastest rate since early months of Covid pandemic September 1, 2022 Manufacturing production and new orders in the UK slumped last month, sinking at the fastest rate since since the early months of the Covid pandemic two years ago. Firms are experiencing a downturn in the sector, as manufacturers have been hit with a reversal in new orders from domestic and overseas customers. Headwinds have been [...]