Focus On Bow: A population boom and the commercial success of nearby Stratford is boosting plans for new homes in E3 December 17, 2018 It may seem like a distant memory now, but the London 2012 Olympic Games promised a lot in the way of legacy. It anointed six east London areas – Newham, Tower Hamlets, Waltham Forest, Greenwich, Barking & Dagenham and Hackney – ‘Growth Boroughs’ and predicted that the money pouring into Stratford would emanate out to [...]
Uber to hire team for Jump electric bikes launch in the UK December 17, 2018 Ride-hailing giant Uber is exploring plans to launch operations of its electric bicycle arm in the UK, entering an already-crowded space from the likes of Chinese startups Ofo and Mobike. Uber bought electric bike startup Jump in April, and has since been trialling the use of its bikes in the US and Germany. It is now [...]
Halo Top ice cream defrosted from the startup doldrums to become a retail success December 17, 2018 Junk food is, rightly, under assault. This year, we’ve seen the introduction of a sugar tax on soft drinks, and last month London mayor Sadiq Khan announced a ban on junk food advertising on the capital’s public transportation network. This comes after tougher TV advertising rules introduced last year, which meant that ads for food [...]
Exclusive: Aberdeen Standard backs controversial £1bn bid for Crossrail fleet December 17, 2018 Aberdeen Standard Investments (ASI) is backing a controversial £971m bid to acquire a fleet of 70 Elizabeth Line trains from Transport for London (TfL), City A.M. can reveal. The asset management giant is stumping up £147m in equity investment to Rock Rail, a rolling stock infrastructure company that finances new trains, with funding proposed from [...]
Could the UK be on the brink of a US-style class action explosion? December 16, 2018 The Royal Bank of Scotland, Lloyds Banking Group, Tesco, Google and Mastercard. These are just a handful of the household names that have been targeted in group action lawsuits in the UK with billions of pounds at stake. The UK, unlike the US or Australia, does not have a long history of class action-style lawsuits, [...]
Tube driver salaries break £100,000 barrier despite train automation December 16, 2018 Some London Tube drivers are now earning more than £100,000 a year, despite new technology that makes their jobs easier. Figures obtained by the Sunday Times reveal the highest-paid driver earned £103,374 in the year to November, a 69 per cent rise since 2012. The surge in pay comes despite five of the network’s 11 lines [...]
Passengers ditch season tickets in favour of single journeys as disruption takes its toll December 13, 2018 Passengers are continuing to ditch season tickets, suggesting a loss of confidence caused by disruption on Britain’s railways. The number of season ticket journeys for the second quarter this year was 143m – the lowest level since the second quarter of 2010-11. By contrast, the number of journeys using one-time advance, anytime and off-peak tickets increased [...]
Brexit Live: Theresa May survives vote of no confidence December 12, 2018 Prime Minister Theresa May faces a challenge to her leadership after the threshold for triggering a vote of no confidence was reached this morning. Welcome to today’s City A.M. Brexit live blog. This post is being updated. Please refresh for the latest version. A vote will be held tonight between 6pm and 8pm after Sir Graham [...]
RMT confirms Boxing Day strike at key Bakerloo Line stations December 12, 2018 Bakerloo Line station staff are set to strike on Boxing Day, as commuters face further misery over the Christmas holidays. With a strike on the Central Line already set to hit Christmas shoppers, the RMT union now plans to withdraw station staff at key stops along the Bakerloo Line. Staff will not turn up to [...]
Decade-long £413bn national infrastructure plan needs more private sector investment, says KPMG December 11, 2018 The government’s 10-year infrastructure plan which commits £413bn of spending over the coming decade needs to do more to drive private sector investment, according to KPMG. The National Infrastructure and Construction Pipeline, announced last month, “looks to be gaining ground”, the accounting firm said, but still lagged behind targets set by the United Nations. The [...]