Renault and Aston Martin backer Geely to launch UK firm injecting £6bn and creating 19,000 jobs July 12, 2023 Renault and Aston Martin backer Geely have announced the launch of a new UK-based powertrain technology company, to manufacture low-emission hybrid and internal combustion engines. An investment of up to £6bn will injected into the new outfit, which will employ 19,000 workers. The two automakers said the new group would operate 17 engine plants and [...]
Hostelworld has record revenues thanks to ‘bed price inflation’ and return of Aussie holidays July 12, 2023 Hostelworld reported record revenues of €51.5m (£43.3m), on the back of resurgent demand for big trips to Asia and Australia and “bed price inflation” helped prop up its margins. The travel platform saw revenue growth of 57 per cent year on year, on the back of 3.4 million bookings across Europe, Asia and Australian markets [...]
Interview: Businesses need to get their ‘pound of flesh’ from home workers, says Addison Lee chief July 12, 2023 “We are a real barometer for the London economy,” Liam Griffin, the boss of Addison Lee, says as we chat in the firms’ Paddington offices. The private hire taxi firm has been a stalwart of London for nearly 45 years now, ferrying customers through the boom of the early 2000s, the financial crash of 2008 [...]
Tech titans? Musk and Zuckerberg’s feud is an ultra-public toddler tantrum July 12, 2023 From threats for a real life fight to launching rival to Twitter, the bizarre blood feud between Mark Zuckerberg and Elon Musk shows how far our entrepreneurs have fallen, writes Josh Williams.
Ed Warner: Thompson’s ECB era will always have report in its shadow July 6, 2023 Ed Warner writes about ECB chair Richard Thompson and how his tenure – much like Seb Coe’s – will always have its connotations despite best efforts. Through the cloud of orange powder, I couldn’t check the privilege of the protester hauled off the Lord’s pitch by Jonny Bairstow last week to see whether he is [...]
The Notebook: Victoria Scholar on good news for inflation, the economics of Taylor Swift and the state of crypto July 6, 2023 Where the City’s movers and shakers get a few things off their chest. Today, it’s Victoria Scholar from Interactive Investor Supermarkets sound a positive note on inflation Some good news on inflation at last – Sainsbury’s says food inflation is starting to fall. Its CEO Simon Roberts said the company is “putting all our energy [...]
Quiz warns over ‘tough’ sales conditions as inflation weighs on shoppers July 5, 2023 Fashion chain Quiz has posted a jump in profits for the past year but cautioned over “tough” trading conditions in recent months as shoppers come under pressure from inflation. The womenswear business said it saw a “strong recovery” over the year to March but has seen sales slide more recently. Quiz recorded a 15 per [...]
Diversity without understanding the power of feelings will never work July 4, 2023 “Diversity without understanding the power of feelings will never work,” reveals Jonathan Hook, Director of Learning at CHX Performance, on the Business of Sustainability , the new podcast produced by FuturePlus in partnership with City AM. In episode 1 of the Business of Sustainability, Jonathan joined co-hosts Alex Smith and Mike Penrose alongside CHX Performance [...]
Fraud ‘epidemic’ may be even worse than figures suggest, experts warn July 4, 2023 The scale of fraud in the UK may be significantly higher than figures show, suggesting the fraud epidemic is even worse than feared, according to industry experts. Fraud has skyrocketed in recent years as a result of the rise of online payments, the pandemic and lax enforcement. Figures from UK Finance put the total lost [...]
Twitter explainer: What are rate limits and why are they causing advertising headaches July 4, 2023 Twitter advertising troubles may have gone from bad to worse after Elon Musk has put his foot in it again – this time by restricting users’ viewing limits over data concerns. On Saturday, the billionaire ex-CEO of Twitter imposed a temporary ‘rate limit’ on all users, effectively capping the number of Tweets that accounts can [...]