Team Internet: Revenue soars after £33m takeover of online marketing firm Shinez August 12, 2024 Web services firm Team Internet has seen its sales surge after it acquired an online marketing firm earlier this year. The London-listed firm, which is headquartered in the City, saw its revenue jump to almost £410m in the six months ending June 30, 2024, compared to £396m in the same period in 2023. As a [...]
Sainsbury’s: Business rates ‘nothing more than an unfair tax on shops’ August 12, 2024 Sainsbury’s has urged the government to cut business rates and warned that failure to act could lead to over 17,000 shop closures over the next decade. It has called for a rate cut of 20 per cent in a bid to revitalise the high street and protect jobs. Not only would this project jobs, the [...]
The Brewery: Royal Ascot caterer buys landmark City of London venue August 12, 2024 The company that provides catering for Royal Ascot has acquired a major large scale event venue in the City of London. Rhubarb Hospitality Collection (RHC) has snapped up The Brewery, which hosts more than 500 events a year, for an undisclosed sum from Paul Lewin. RHC itself was acquired by Oak View Group (OVG) in [...]
Bivictrix quits London’s AIM to chase private funding as market ‘undervalues’ firm August 12, 2024 Biotech firm Bivictrix Therapeutics is the latest company to exit the London Stock Exchange’s AIM market, citing difficulties in raising funds compared to its privately-owned competitors. The company, which is headquartered in Macclesfield, said it would not be able to raise enough capital to advance its medication to a clinical trial via London’s junior market [...]
WH Ireland: Small-cap broker’s revenue plunges amid AIM swoon August 12, 2024 WH Ireland, the broker for small and medium-sized public companies, has reported a near 20 per cent slump in revenue due to “extremely challenging” market conditions. The group also reported a statutory loss before tax of £5.9m, up from £1.8m in 2023, thanks in part to a £2.9m restructuring charge. “These were principally redundancies and [...]
Heathrow smashes passenger records despite ‘devastating’ hit from new £10 transit charge August 12, 2024 Heathrow Airport has retained its crown as Europe’s busiest airport over the first half of the year as passenger traffic broke records multiple times in July. Some 8m travellers passed through the West London hub over the month, millions more than the likes of Amsterdam Schiphol, Frankfurt, Madrid and Paris’s Charles de Gaulle. Heathrow saw [...]
Au revoir, Paris. You have been a spectacular Olympic Games host August 12, 2024 Kinzang Lhamo finished her Paris 2024 Olympic Games marathon 90 minutes after gold medallist Sifan Hassan, but she finished it. The athlete from Bhutan walked towards the finish at Les Invalides as fans walked beside her, ensuring she completed the most iconic event of any Olympiad. While she encapsulated what it means to reach the [...]
‘Pent-up demand’ drives jump in London prime property sales August 12, 2024 London’s super-prime market seems to following a similar track to the general market: optimism is cautiously increasing as mortgages start to come down following the Bank of England’s rate cut. The number of exchanges in London in June and July was 8.4 per cent above the five-year average, according to Knight Frank. It was a [...]
UK riots: Digital authoritarianism is not the answer to far-right violence August 12, 2024 Far-right thugs deserve to see justice, but Westminster must not use the riots to push through dystopian digital measures, writes Silkie Carlo, director of Big Brother Watch Our response to the riots risks digital dystopia These have been dark days for Britain. The shocking scenes of violence and racism following the Southport stabbings are unforgettable. [...]
Net zero depends on economic growth – so the City must lead the charge August 12, 2024 Sustainability and economic growth are two sides of the same coin, which is why the City must lead the charge to net zero, writes Chris Hayward In 100 days, global political, business, and climate leaders will have gathered in Baku, Azerbaijan, for COP29. The annual COP meeting is the culmination of a year of hard [...]