Home REIT faces legal threat from biggest tenant over £5.5m rent relief deal January 11, 2023 Troubled social housing investor Home REIT is facing a legal challenge from its biggest tenant after trying to renege on a £5.5m rent relief deal it struck due to the dilapidated state of its properties, City A.M. can reveal.
The pandemic’s lasting impact is huge… How can the little idea of recycling help? January 11, 2023 The pandemic’s lasting impact is huge… How can the little idea of recycling help? For the past 2 years, it’s been one thing after another: Covid lockdowns, more Covid lockdowns, Russia invading Ukraine, and a few more Covid lockdowns (looking at you China). Therefore, it comes as no surprise the global economy continues to take [...]
AO World ‘cautiously optimistic as moves to slash costs helped lift profit expectations January 10, 2023 AO World has said it is “cautiously optimistic” as the online electricals retailer revealed that moves to slash costs have helped the firm’s profits surpass expectations. Last year, the Bolton-based company closed its loss-making German business and launched actions designed to save at least £30 million a year by 2023-24, including axing a raft of senior and [...]
Vodafone sells off Hungary business for hefty price tag amid major overhaul January 9, 2023 Mobile phone giant Vodafone has finalised a deal to sell its Hungarian business for £1.5 billion amid an ongoing overhaul. The group, which first announced the plans in August, confirmed a binding agreement to sell Vodafone Hungary to local technology company 4iG and the Hungarian state for 660 billion Hungarian forints (£1.5 billion), with the [...]
To be an attractive location the City needs an innovative offer, starting from transport January 9, 2023 For many City workers, after a week of working from home due to rail strikes, today will be the first day back in the office. People across the Square Mile will hope that the new year brings a swift resolution to the railways’ industrial action. We all want to return and help the City unlock [...]
Covid variant, China invasion of Taiwan and more inflation: What shocks will 2023 bring? January 8, 2023 A new Covid-19 variant that escapes vaccines is among the biggest risks threatening to sharpen the UK recession, City economists surveyed by City A.M. suspect. Asked what wildcard trends could spring up to hit the economy this year, experts warned another deadly strain of the virus spreading is one of the biggest headwinds that would [...]
EDF Energy backs Ofgem reforms as Centrica makes fresh ringfencing push in bid to ‘protect’ consumer balances January 8, 2023 EDF Energy has backed Ofgem’s plans to toughen financial requirements for suppliers - which stop short of full ringfencing.
Starling boss Boden marks quadrupling of bank’s profits with barbs at fintech peers January 6, 2023 Digital bank Starling said it expects to more than quadruple its profits to £120m and ramp up a hiring spree this year as it becomes the latest lender to be buoyed by rising interest rates and a surge in borrowing.
Puttshack and Bounce chief: Pubs and restaurants urged to ‘get creative’ instead of expecting government support January 6, 2023 The government can only do so much to help hospitality businesses amid turbulent times, with firms needing to “get creative”, the boss of the Puttshack and Bounce brands, told CityA.M. Pub and restaurant bosses have long been calling for more government to help it charter tumultuous waters, in the form of a VAT cut and [...]
Odeon sees Christmas boom as Avatar 2 lures Brits back to the big screen January 5, 2023 Odeon, the UK’s largest cinema chain, welcomed over a million viewers during Christmas thanks to the much anticipated Avatar sequel. Cinemas in the UK have started 2023 on a high note after two rough years, according to new numbers released by Odeon. The return of viewers to the big screen was credited to the release [...]