Online retailer CMO eyes £100m AIM listing in bid to disrupt building materials market June 25, 2021 Online-only building materials firm CMO is set to list on London’s AIM market next month, the company announced this morning. City A.M. understands that the Plymouth-headquartered outfit is likely to fetch a valuation of around £100m. CMO will be looking to follow in the footprints of fellow home improvement retailers Victorian Plumbing, which listed on [...]
Bow Lane: Party time in EC4 as City celebrates return of office workers June 25, 2021 To celebrate the return of office workers to the Square Mile, the Bow Bells Association organised a street party yesterday in one of the oldest streets in the City, Bow Lane. Opened by the Lord Mayor Alderman William Russell, together with Bow Bells Association chairman James Goolnik, the Bow Bells sounded to start the party, [...]
Exclusive: Business chiefs call for long-term TfL funding to support return to work June 25, 2021 The government must agree a sustainable long-term funding deal for Transport for London (TfL) to help support the capital’s post-pandemic recovery, business chiefs have urged. In a new report seen by City A.M., lobby group London First said maintaining public transport services in the capital was “vital” in rebuilding confidence and supporting the shift to [...]
Presidents, senators and bright shiny Bitcoins June 24, 2021 Both Bitcoin and Ethereum are currently down about three per cent over the last 24 hours, with BTC changing hands for around $33k.
Lidl heads for Hampstead: Discounter eyes London sites in major expansion plan June 24, 2021 Lidl is plotting an expansion into well-heeled districts including Hampstead and Knightsbridge as part of a plan to increase store numbers in the capital. The German discount retailer plans to have 1,000 stores in its portfolio by the end of 2023, with the supermarket eyeing areas in town centres, edge of town centre locations, retail [...]
FCA boss vows transformation after MPs slam historic ‘culture’ failings over mini-bond collapse June 24, 2021 The Financial Conduct Authority said it was embarking on a “wide-ranging transformation programme” after MPs lambasted it for historic failings relating to the collapse of London Capital & Finance (LCF). A report from the influential Treasury Select Committee of MPs said that a change in the FCA’s “culture” was required to protect consumers from a [...]
Lloyds prompts backlash after axing another 44 branches June 23, 2021 Lloyds Banking Group is to close another 44 branches across England and Wales this year as lenders ramp up cost-cutting. Lloyds blamed a lack of customers at the sites as the reason for the move as people switch to digital banking. The latest closures means a total of 100 branches will shut this year, with [...]
Victorian Plumbing shares surge in biggest ever float on London’s junior market June 22, 2021 Online bathroom retailer Victorian Plumbing has seen shares surge higher as it began life as a listed company in the biggest ever float on London’s junior market. The group launched on to the Alternative Investment Market (Aim) with shares priced at 262p, giving it an initial valuation of around £850m, before the stock quickly jumped [...]
Google Campus closes in the end of an era for London tech startups June 22, 2021 Google has decided not to reopen its London campus for startups, which formed part of the capital’s mini–Silicon Valley, saying it will offer services online. The coronavirus pandemic and working from home has likely swayed the decision to shut the seven-storey East London campus. “This shift demonstrated that, similar to the support we provide in [...]
London hedge fund White Square Capital shuts after swallowing lofty GameStop losses June 22, 2021 London-based hedge fund White Square Capital will close its doors today, according to reports, following its lofty losses in GameStop’s first ‘meme stock’ rally in January. White Square bet against the US retailer GameStop, the Financial Times first reported today, which led to a percentage loss hitting double-digits at the beginning of an already tough [...]