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 [...]
Private equity interest: Why is Morrisons such an attractive takeover target? June 21, 2021 Morrisons has rejected a £5.5bn takeover approach from a US private equity firm amid speculation that more UK supermarkets could be snapped up. Shares in Morrisons jumped earlier this morning following confirmation of the rejection at the weekend, as the chain said potential bidder Clayton, Dubilier & Rice “significantly undervalued” the grocer with its 230p-per-share [...]
Heavy rain waters down consumer enthusiasm as footfall slows June 21, 2021 Footfall fell by 3.1 per cent last week across all UK destinations, as rain put off shoppers from heading outside. The high street was the hardest hit area during the last week, with footfall falling 5.4 per cent, according to the latest data from Springboard. In shopping centres and retail parks, where less time is [...]