Marks Electrical eyes London IPO after online growth October 5, 2021 Online retailer Marks Electrical has announced its intention to pursue an initial public offering (IPO) on London’s AIM market. The group – which sells, installs and recycles a variety of household electrical items – has seen online growth swell as consumer behaviour has changed. Revenue hit £56m in the year to March 31 2021, up [...]
JP Morgan snaps up Old Street property for £181m October 5, 2021 The Great Ropemaker Partnership has announced the sale of 160 Old Street, EC1, to a fund advised by JP Morgan Global Alternatives for £181.5m. The fund comes under the management of JP Morgan’s alternative investment arm which has $191bn in assets under management. The Old Street property was comprehensively refurbished while under the management of [...]
Exclusive: Minister is ‘very optimistic’ people will not be told to work from home in winter October 4, 2021 It is unlikely the government will tell people to work from home this winter, London minister Paul Scully has said. Scully told City A.M. today that he was “very optimistic” the government will not have to mandate working from home as a part of its Covid “plan b” for winter. Boris Johnson last month outlined [...]
CBI president: UK must bring in more immigrants to deal with shortages October 4, 2021 The president of one of the UK’s largest business groups has called for the government to increase immigration in the short-term to deal with key worker shortages. Lord Karan Bilimoria, president of the Confederation of Business Industry (CBI), today told City A.M. that there should also be a government board that sets immigration targets to [...]
BrewDog hopeful of a better year after filing 2020 losses October 4, 2021 BrewDog has said the most recent trading numbers for its bar division “tell a very different story” to its yearly results for 2020. The company’s venues division posted a pre-tax loss of £10.4m for the year ended December 31 2020. This is compared to a pre-tax loss of £653,000 in 2019. What’s more, the company [...]
Plus500 to smash forecasts as retail trading continues to boom October 4, 2021 Booming retail trading volumes prompted trading platform Plus500 to raise its income and profits forecast ahead of analysts’ expectations for the year today. In a trading update, the London listed platform said revenues and earnings will come in far ahead of forecasts after “further positive momentum” in the third quarter of this year. An uptick [...]
TfL in further cash plea to government to keep London moving October 3, 2021 Transport for London has asked the Treasury for a further half a billion worth of support for the rest of the financial year and for a further £1.2bn next year to “ensure London’s recovery” from the pandemic. Documents submitted by the capital’s transport authority to the government’s spending review include a commitment from TfL to [...]
Petrol bosses warn fuel shortage is ‘getting worse’ in London and south-east October 2, 2021 Fuel shortages are getting worse rather than improving, especially in London and the south-east of England, the chairman of the Petrol Retailers Association (PRA) has warned. Brian Madderson said it remains a “really big problem” in this part of the UK, and told the BBC’s Today programme: “In London and the South East and possibly [...]
London markets tumble after US stocks register worst month since March 2020 October 1, 2021 London’s FTSE 100 tumbled on the closing day of the week as investors sweated over the global economic recovery from the Covid-19 crisis stalling after Wall Street registered its worst month since March 2020. The capital’s premier index slid 0.94 per cent to 7,019.90 points. The spectre of rising costs eating into margins, rate hikes [...]
Crypto Summit LIVE: Updates from the heart of the City September 30, 2021 Day 2 Yesterday, we were treated to keynote talks from Lord Chris Homes MBE, member of the House of Lords, Marcus Hughes of Coinbase and Alderman William Russell, Lord Mayor of The City of London and more! The day was topped off with an awards ceremony held at St Leonardo’s hotel in London. Closing thoughts [...]