Music Magpie posts rise in profit after London IPO July 28, 2021 Tech resale site Music Magpie has posted a rise in revenue and profit in its first interim results since floating on the London Stock Exchange earlier this year. The online retailer, which allows consumers to exchange old devices such as phones and game consoles for cash, reported adjusted pre-tax profit of £4m in the six [...]
Exclusive: IWG founder and office veteran Mark Dixon on why hybrid working is the new normal July 28, 2021 Office space giant IWG swung to a £650m loss last year due to the impact of coronavirus on working habits, it announced earlier this year. However, founder and CEO Mark Dixon has full confidence in the future of London’s offices, as he sits down with City A.M. for an exclusive interview. Dixon said his company [...]
Meet Shein: The secretive Chinese fast-fashion firm taking over online retail July 27, 2021 Taking the Tube at the minute can still, at times, feel like time travel. Around you are slightly tattered posters for theatre productions that haven’t been on stage for more than a year; ads for movies touted for cinema release that ended up quietly released to Netflix with little fanfare. Amongst these relics of a [...]
`Your network is your net worth´: seven tips to propel your career July 27, 2021 My thought leadership speaking tours to the Middle East and Europe were postponed. To convince the organizers to host their events online, I went on a shopping spree and bought all kinds of audio and video equipment just before the first lockdown in Singapore. It wasn’t just me. Everyone, from students to senior professionals, needed [...]
Everyone’s an expert as long as they are anonymous July 27, 2021 Bitcoin topped out at just over $40,000 yesterday evening, before a sharp retrace brought it back down to around $37,300 this morning.
Tech stocks – slow-down or slump? July 27, 2021 With the COVID-19 pandemic accelerating the shift towards a digital-first world; technology stocks rose to all-time highs in 2020, as people spent more time online.1 However, as economies have begun to reopen following the rollout of highly effective coronavirus vaccines; tech stocks sold-off as investors rotated towards sectors set to benefit from reopening. In this [...]
Barings coughs up £130m for Capital House in the City July 27, 2021 Real estate investment manager Barings announced they have acquired a Grade A office building in the City of London for £130.5m from a German retail real estate fund. The global company gained Capital House, a 126,000 square foot office, retail, and ancillary space with 55per cent of the building currently being let to the likes [...]
Moonpig more than doubles revenue as lockdown delivers trading boom July 27, 2021 Online card retailer Moonpig has more than doubled its revenue in its first annual results since a bumper London stock market float earlier this year. The greetings card specialist posted revenue of £368.2m in the year to the end of April, a huge jump from the £173.1m recorded in the previous year. Reported pre-tax profit [...]
China crackdown weighs heavily on global markets July 27, 2021 Global stock markets notched losses on Tuesday as investor sentiment soured on concerns that Chinese authorities may over-extend their regulatory crackdown. The US’ main benchmarks dropped during the opening session, with the tech-heavy Nasdaq registering the worst performance, down 1.76 per cent. The blue-chip S&P 500 fell 0.78 per cent, while the Dow Jones lost [...]
Exclusive: London businesses call on Williamson to tackle capital’s skills crisis July 26, 2021 A group of London businesses have called on Gavin Williamson to tackle London’s growing skills shortage, warning that the capital’s recovery from the pandemic was on the line. In a letter to the education secretary, coordinated by London First and seen by City A.M., the businesses call for a swathe of new policies to be [...]