Drones could add £42bn to UK economy by 2030 with more than a third to be in the public sector, says PwC report May 30, 2018 Drone technology could increase UK GDP by two per cent, or £42bn, by 2030, with more than a third of new drones to be utilised by the public sector, says new research from PwC. The report estimates that there will be more than 76,000 drones in use across the UK by that time, with public [...]
The City’s Pret employees celebrate £1,000 bonus after JAB Holdings takeover May 29, 2018 Pret A Manger employees in the City today celebrated news that they would be receiving a £1,000 bonus after the company announced it will be acquired by German conglomerate JAB Holdings. “I only just heard,” said Mohamed Naim, 19, who works at a store on Fenchurch Street. “I still can’t believe it. It’s a bit [...]
AA skids off course in mid-cap promotion push as Marks & Spencer swerves blue-chip relegation May 29, 2018 British motoring darling the AA snatched defeat from the jaws of victory, as it is set to narrowly miss out on a return to London’s mid-cap index. Shares in the breakdown firm skidded over seven per cent today taking the firm out of contention for an automatic promotion back to the FTSE 250. Last week, [...]
Invesco is embroiled in a row with its former fund as it refuses to lower management fees May 29, 2018 Invesco is embroiled in a row with one of its former funds, London-listed investment trust Invesco Perpetual Enhanced Income (IPE), after it refused the independent board's request to lower management fees. Invesco announced in April that it was quitting as the investment manager of IPE, after the trust's independent board – headed by chairman Donald [...]
Halfway through Sadiq Khan’s mayoral marathon, the capital is in desperate need of a leader May 21, 2018 Ifo you listen carefully in the direction of City Hall, you can hear Sadiq Khan gasping for breath as he reaches the halfway point of his mayoralty marathon. It’s been a struggle for the past two years since his election, during which living in London has become increasingly difficult. The cost of living is going [...]
Last Week in the City: England has an 8.5% chance of winning the World Cup May 18, 2018 Garry White, chief investment commentator, looks at the market-moving events that have shaped the UK equity markets this week (14 to 18 May 2018). UBS has used its City analysts’ predictive firepower to try and work out the winner of the upcoming World Cup in Russia – and England came surprisingly high in its league [...]
Private equity firm 3i’s annual return slips but its portfolio value rises as star assets keep performing May 17, 2018 Listed private equity firm 3i saw its total return to shareholders slip slightly this year, though the value of the underlying investments in its portfolio continued to climb. The London-listed firm returned a total of £1.4bn to investors in the year to March, as opposed to £1.6bn a year prior. However the value of the [...]
Londoners more cautious about digital shopping than rest of world May 16, 2018 Londoners are not getting carried away with the fast-changing nature of retail compared with internet users around the globe, new research has shown. Research from Ericsson found that an increase in people using smartphones to pay for goods and services was leading to a second shift of consumers calling on the help of ‘digital shopping [...]
We meet Annabel Karmel, the celebrity cook who leaves children hungry for more May 14, 2018 Annabel Karmel comes bounding into the room like a bundle of sunshine. With her yellow dress and immaculate makeup, she seems a world apart from the drab Bloomsbury bar where we meet. For millions of parents, Karmel is a household name, with major supermarkets stocking her baby and toddler food. It was her first book, [...]
Sadiq Khan floats ‘junk food’ advertising ban on entire TfL network May 11, 2018 London Mayor Sadiq Khan has today proposed a ban on “junk food” across the entire Transport for London (TfL) network. The move is intended to tackle the “ticking timebomb” of childhood obesity in London. Khan said: “Child obesity in London is a ticking timebomb and I am determined to act. If we don’t take bold [...]