London is being hollowed out of clever 20-year-olds refusing rent hikes February 16, 2023 Young, talented people are leaving London in flocks because they can't afford the record spike in rents. It risks making the capital a place for the super wealthy only, writes Elena Siniscalco
FTSE 100 close: London index breaches 8,000 mark for first time ever despite Barclays tumbling February 15, 2023 London’s FTSE 100 today breached the 8,000 point mark for the first time ever despite Britain’s biggest banks tanking after Barclays posted a big profits drop. Today’s move higher crystalises the premier index’s bullish start to 2023 that has seen it surged more than seven per cent. The new year rally builds on advances that [...]
Eighth British national dies in Ukraine as Nato leaders meet to discuss giving Kyiv more fighter jets February 15, 2023 A man has become the eighth British national to die in Ukraine since the start of Russia’s invasion. The identity of the individual, who the BBC reported was a man, is not yet known but the Foreign Office said their family has been informed. A Foreign Office spokesperson said: “We are supporting the family of [...]
Rail and postal strikes ‘decimated’ festive trade with worst impact for a decade February 14, 2023 London’s festive economy was “decimated” by rail and postal strikes, as new figures revealed the disruption caused by walkouts was the worst month on record since 2011. Around 843,000 working days were lost to strike action in December – the highest for more than a decade – according to official figures from the Office for [...]
Thames Water risks £500m shortfall after April bill hike as vulnerable customers fall behind on payments February 14, 2023 Hundreds of thousands of Thames Water's customers risk falling behind on their bills when prices rise in April, according to Outra.
FTSE 100 close: London index bumps higher ahead of key inflation and wage numbers February 13, 2023 London’s FTSE 100 kicked off the week in busy fashion today ahead of a busy week of data that will provide more clues on the health of the UK economy. The capital’s premier index closed 0.83 per cent higher today at 7,947.60 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with [...]
Shell lawsuit: Institutional investors back legal challenge over climate risk February 11, 2023 A group of European institutional investors is backing a novel London lawsuit against Shell's board over alleged climate mismanagement.
Lyft loses ground on Uber: Share price falls 30 per cent after profit down £100m on forecast February 10, 2023 Lyft is trailing behind competitor Uber as disappointing forecasts have caused investors to lose confidence. Shares in the ride-hailing company dropped more than 30 per cent this week after it reported lower than expected first quarter profit forecasts of $975m (£805m). Initially, analysts forecasted it would be at $1.09bn (£900m), according to Refinitiv data. Lyft [...]
The Square Mile and Me: Savvas Savouri on his first job, unfortunate typos and supporting the Gunners February 9, 2023 We dig into the memory bank of the City’s great and good: this week it’s Savvas Savouri, chief economist and partner at Toscafund Asset Management. What was your first job? I must mention a very entertaining Saturday job at my uncles’ shoe repairers, The Master Cobbler, in Highbury Barn, an area full of character and [...]
Driving success: Uber eyes profitability as airport and office journeys fuel post-pandemic rideshare demand February 8, 2023 Uber said it had set its sights on delivering profits this year after 2022’s surge in demand for airport and office rides helped the company rebound from pandemic lows. Dara Khosrowshahi, chief executive of Uber, said the company was now focused on achieving profitability on a GAAP basis this year. Khosrowshahi said: “The pandemic’s impact on [...]