Wework reports $264m loss ahead of stock market debut May 15, 2019 The We Company, the parent company of office space provider Wework, reported losses of $264m (£205m) in the first quarter of this year ahead of its highly anticipated stock market debut later this year. Net losses fell by $10m from $274m last year as revenue continues to double annually and the number of large customers [...]
European growth aided by UK expansion and German bounce-back May 15, 2019 Growth in the Eurozone and European Union picked up in the first quarter of the year after a rough patch, with the UK showing solid expansion, the EU’s official statistics body confirmed today. Read more: Euro rises as Eurozone economy shows stronger-than-expected growth GDP growth in the EU rose to 0.5 per cent quarter-on-quarter, after growing [...]
Cineworld maintains guidance as it looks ahead to bumper slate of films May 15, 2019 Cineworld has said it is on track to deliver full-year revenue in line with expectations, as it looks ahead to a string of hit releases later in the year. The London-based cinema chain posted a 9.4 per cent drop in revenue over the first quarter, which it blamed on the timing of major releases such [...]
Landsec: A tale of two portfolios May 14, 2019 Investors trying to work out what the future holds for property giant LandSec, which delivered a dismal set of results to the City this morning, could do worse than take a stroll through its Square Mile development. The complex, aptly named One New Change, is a fitting example of how the FTSE 100 real estate [...]
Brexit talks: Still no progress in discussions between the Conservatives and Labour May 13, 2019 Brexit talks between the Conservative and Labour frontbenches ended in stalemate yet again on Monday despite frantic speculation a crunch vote was set for later this week. Tory MPs were told a three-line whip was in operation for Thursday – meaning an important vote was scheduled – before it was downgraded to a one-line whip. [...]
Privacy Policy May 13, 2019 Privacy Notice Last Updated: [24/10/2024] CITY A.M. LIMITED is committed to protecting our customer’s privacy. Please take the time to review this notice which explains what information we collect about you, how we use it, and your rights. CITY AM LIMITED (“THG”, “we” or “us”) is the data controller of the personal data collected via [...]
MPs tell government to intervene if banks don’t do enough to halt branch closures May 13, 2019 The government or the financial watchdog should be ready to intervene if banks do not do enough to halt the closure of local branches, MPs have suggested. In its report into financial inclusion, the influential Treasury Select Committee (TSC) said the closure of local branches were more likely to affect older and more vulnerable customers and [...]
Ford gears up to announce up to 550 job losses for UK office workers amid turnaround efforts May 13, 2019 Ford is poised to announce as many as 550 job cuts in the coming weeks as part of a major restructuring programme, City A.M. has learnt. Read more: Ford casts further doubt over future of its UK operations post-Brexit The second-biggest car maker in the US is expected to make the reductions among office workers [...]
O2 first-quarter revenues rise as it unveils investment plan for stadiums and hotels May 10, 2019 O2 has posted a rise in revenues for the first quarter as it unveiled fresh network investment in stadiums and hotels ahead of the launch of 5G. The mobile operator reported revenues of £1.5bn in the three months to the end of March, up 5.3 per cent on the same quarter last year, while operating [...]
Hackers steal $41m in bitcoins from crypto exchange Binance May 8, 2019 Hackers have stolen bitcoins worth roughly $41m (£31m) from cryptocurrency exchange site Binance, the company said today. Read more: Bitcoin price gains continue as it jumps to six-month high Binance said hackers had withdrawn 7,000 bitcoins in a single transaction after using techniques including phishing and viruses as part of a coordinated large-scale security breach. [...]