KPMG could face questions from auditor watchdog after Conviviality’s downfall April 22, 2018 The auditor of wine retailer and supplier Conviviality could face questions over its role in the company’s collapse. The Financial Reporting Council (FRC) confirmed to City A.M. that it was “looking closely at the reported accounting issues at Conviviality”. “If the relevant threshold tests are met in relation to accountants at the company and/or its [...]
International Monetary Fund’s Christine Lagarde warns of blockchain disruption to clearing and settlement industries April 16, 2018 The influential head of the International Monetary Fund (IMF) today warned that the blockchain technology underpinning cryptocurrencies threatens to cut a swathe through the financial infrastructure industries. In a blog posted today on the IMF’s website, Christine Lagarde highlighted smart contracts, which carry out transactions automatically without intervention from an external party, as one of [...]
WeWork teams up with two investors to buy City of London’s Devonshire Square for around £580m April 16, 2018 Co-working group WeWork has chosen a City of London site as its biggest acquisition yet. The company has bought up Devonshire Square in a deal with two investors, The Times reported today. WeWork joined forces with Danish pension fund PFA Ejendomme and property investment managers TH Real Estate to buy the 13-building estate for £580m [...]
Aldi’s £10 gin has been named one of the best in the world April 10, 2018 A £10 gin on sale at discount supermarket Aldi has been named one of the best in the world. The Oliver Cromwell London Dry Gin retails for just £9.99, but has been named a top tipple at the International Spirits Challenge (ISC). It adds another accolade to the gin’s cabinet, as the same spirit has [...]
Interior design marketplace Eporta lands $8m funding from venture capital and angel investors including Guy Hands | City A.M. April 10, 2018 Interior design startup Eporta has nabbed $8m (£5.7m) in funding from an impressive list of venture capital firms and angel investors. London-based Eporta, which acts as a business-to-business marketplace where interior designers and offices can buy furniture from manufacturers directly, pulled in the cash in a series A round led by US firm Canvas Ventures. [...]
London-based food delivery startup City Pantry which serves lunches to Amazon and Google raises £4m from Octopus April 9, 2018 A startup which delivers food from local caterers directly to offices in the City has raised £4m to expand across the UK. City Pantry, which already serves clients such as Amazon, Google, Spotify and Unilever, currently serves over 20,000 meals every week to the employees of more than 500 companies. Octopus Investments led the latest [...]
Financial services bosses back the City to remain Europe’s hub after Brexit April 9, 2018 The vast majority of global financial services bosses believe London will remain at the pinnacle of the European industry after Brexit in spite of widespread fears that leaving the EU will dent the UK economy, according to a survey of bosses at big firms. Some 88 per cent of the more than 100 senior leaders [...]
How gyms are filling spaces left vacant by retailers and restaurants around London April 8, 2018 Exercise is basically the new clubbing. At least, that’s what Casey Phillips, a property agent at Shelley Sandzer, tells me as we’re discussing why the fitness industry is currently booming. “Instead of getting drunk, you do a class together,” he says. “You just feel incredible afterwards.” The wellness and fitness industry is estimated to reach [...]
FTSE 100 closes lower as global markets struggle with trade war fears April 6, 2018 The FTSE closed in the red today, as fears of a trade war continued to take their toll on markets around the world and US jobs data disappointed. The FTSE 100 index was down over 15 points at 7,183.64, coming off a low of 7,163.11 earlier in the day. Data on UK productivity this morning [...]
Hammerson shrugs off retail woes as it treads water on Intu takeover ahead of Klepierre deadline April 5, 2018 Shopping centre owner Hammerson today said it had a strong start to the year despite ongoing challenges for the high street. The firm also provided an update on its proposed takeover of Intu, saying it is holding off on shareholder documents as it awaits the next move from French firm Klepierre. Earlier this month, real [...]