Cardano leading the charge against Bitcoin dominance April 29, 2021 As Bitcoin's market dominance falls below 50 per cent, alt season is in full swing with Cardano leading from the front.
UK set to formally recognise the EU’s ambassador in bid to cool tensions April 29, 2021 The UK is set to grant full diplomatic status to the EU’s ambassador to the UK in a move that could cool tensions and put to bed a long-running dispute. João Vale de Almeida, a near lifetime Eurocrat, took up the ambassadorial post last year, but had not been formally recognised by Boris Johnson’s government. [...]
Keystone Law CEO: ‘There’s always been a culture of presenteeism in law firms – but that makes less sense now’ April 29, 2021 AIM-listed Keystone Law has enjoyed a good financial year, with profits and revenue at the firm up, something it attributes to being accidentally pandemic-ready thanks to its flexible approach to work. Revenue for the year jumped nearly 11 per cent to £55m, while profit before tax rose to £5.4m, some £200,000 more than the previous [...]
We need new models of public procurement April 29, 2021 Public procurement has been in the headlines recently, and not for wholly good reasons. During the pandemic, governments around the world have rushed to buy essential kit – including face masks, gloves, medical equipment and vaccines – from suppliers. This scramble has come at a price, with the balance of power moving from the buyer [...]
Demand for new iPhone sees Apple post record quarterly revenue April 28, 2021 Apple has posted record quarterly revenue on surging demand for new iPhone and pandemic-induced buying for its other profits. Revenues more than doubled from $23.6bn to $89.6bn this quarter. Apple earned $1.40 per share, beating expectations of 99 cents. It follows a record performance in the first quarter when the company broke the $100bn quarterly [...]
Exclusive: Private equity firms strike £10bn of carve-out deals as pandemic drives sale of non-core units April 28, 2021 Private equity firms made £10.1bn of corporate carve-out acquisitions in the UK last year, up from just £765m in 2019 as the Covid-19 pandemic drove more corporates to sell non-core business units, according to new data shared with City A.M. this evening. The economic disruption of the past year has forced many large businesses to [...]
Gridserve: we visit London’s electric filling station of the future April 28, 2021 Described as the ‘world’s first electric forecourt’, Gridserve is an EV charging hub powered by sustainable energy. We discover how it works.
City Moves: Who’s switching jobs in the Square Mile this week? April 28, 2021 City A.M.‘s Millie Turner provides a roundup of the most important hires and job moves across the City, every Wednesday afternoon. Email citymoves@cityam.com to be featured. Cazoo bolsters board after $7bn NYSE listing After its $7bn New York Stock Exchange listing through its AJAX merger, UK online car retailer Cazoo has confirmed that a new non-executive director [...]
WPP returns to revenue growth as UK ad market bounces back April 28, 2021 WPP today reported a surprise return to revenue growth in the first quarter as clients began to increase their marketing spend after a frugal pandemic year. The London-listed ad giant posted a 3.1 per cent rise in revenue less pass-through costs — its key metric — to £2.3bn for the first three months of the [...]
Antonio Horta-Osorio signs off at Lloyds with a £1.4bn post-tax profit April 28, 2021 Lloyds bank posted a £1.4bn after tax profit for the first quarter, up nearly 200 per cent on the same time last year, in boss Antonio Horta-Osorio’s final results at the helm. The banking giant’s statutory profit after tax for the three months to 31 March 2021 was £1.39bn compared to £480m this time last [...]