Aston Martin shares leap as Lawrence Stroll leads rescue deal January 31, 2020 Shares in Aston Martin rose 20 per cent today as it was announced that Canadian billionaire Lawrence Stroll would take a 20 per cent stake in the ailing carmaker. Stroll’s stake, which will be worth £182m, is part of a £500m funding raise which will include a rights issue from major shareholders. Since floating in [...]
Square Mile police station to be transformed into five-star hotel January 30, 2020 The City’s Grade II* listed Wood Street Police Station is set to be transformed into a five-star hotel. The City of London Corporation has sold the building to Magnificent Hotels, after deciding the police station was “surplus to operational requirements”. The police force will be based at the Wood Street station until around December this [...]
HS2 is not just another transport project — it’s about the very bones of our economy. January 30, 2020 Over the coming weeks, the government will publish at last the Oakervee report into HS2. The review looks likely to give the green light to this massive investment in the infrastructure of the north and the Midlands — and it’s certain that there will be an almighty row about it. As always with any infrastructure [...]
SCS boss to step down after 32 years at sofa retailer January 29, 2020 The chief executive of sofa retailer SCS Group has announced plans to step down at the end of the year, after 32 years with the business. The company will launch a search for a new boss after David Knight revealed he will retire from the role. Knight gave 12 months notice but will stay in [...]
Exclusive: Beales auditor faces scrutiny after collapse of department store chain January 28, 2020 The firm responsible for auditing Beales department store’s financial accounts is expected to face scrutiny after it emerged that the retailer collapsed just over four months after being given a clean bill of health. City A.M. understands that the Institute of Chartered Accountants in England and Wales (ICAEW) has made early-stage enquiries into Nexia Smith [...]
The Man Who Killed Don Quixote review: Terry Gilliam goes balls-to-the-wall in this kaleidoscope of imagination January 24, 2020 Terry Gilliam’s The Man Who Killed Don Quixote begins with a title card: “After 25 years in the making… And unmaking”. He’s not kidding – Gilliam started work on the film in 1989, it entered full production almost a decade later with Johnny Depp starring, only to see illness and floods destroy the work and [...]
Property of the Week: A Wapping warehouse where WWI soldiers’ toothpaste was made January 24, 2020 Located halfway between Bank and Canary Wharf, Wapping’s waterside is a favourite location for the swanky riverside apartments of young financial services types. But dial back the clock a hundred years and it was a far grittier affair, the landscape dominated by bustling docks and factory chimneys. This penthouse that has just come on the [...]
John Manzoni to step down as chief of the civil service January 22, 2020 The chief executive of the civil service, Sir John Manzoni, is stepping down from his role ahead of looming Whitehall reforms. A Cabinet Office spokesperson said: “As has been planned for some time, Sir John Manzoni will step down from his post at some point this year.” Sky News first reported that Manzoni told senior colleagues of [...]
New Year Honours 2020: England’s cricketers, Olivia Newton-John and Iain Duncan Smith make list December 28, 2019 Singer Olivia Newton-John and four of England’s Cricket World Cup winners are among those to have made the 2020 New New Year Honours’ list. Newton-John, who stared in the 1978 film Grease, has been made a dame for services to music, cancer research and charity. She set up a cancer centre near Melbourne in 2012 [...]
Tim Clark to step down after thirty years as Emirates Airlines president December 24, 2019 Sir Tim Clark will step down as the president of Emirates Airline in June next year, bringing to an end more than 30 years at the company. Under Clark’s leadership the state-owned business became the world’s largest airline and helped transform Dubai into a global transport hub. Read more: Emirates orders $9bn worth of Boeing [...]