Commercial struggles offer open skies to private jet operators April 7, 2021 The global collapse of aviation over the past year has for the most part been one long unrelenting nosedive, with the occasional moment of levelling out as much-needed respite. As in most crises, however, there are both winners and losers, and though the big commercial airlines clearly fall into the latter category, an unlikely group [...]
City Moves: Who’s switching jobs in the Square Mile this week? April 7, 2021 Snakes and Ladders provides a roundup of the most important hires and job moves across the City, every Wednesday afternoon. Email citymoves@cityam.com to be featured. Tharsus adds former CEO of Dyson to its board Robotics company Tharsus has appointed former Dyson CEO to its board as a non-executive director this week. Martin McCourt, whose career spans four decades, [...]
UK PMIs: Service sector returns to growth as lockdown end nears April 7, 2021 The UK’s services industry returned to growth in March, with business activity, new orders and unemployment all rebounding from the previous month. New data released this morning shows that the UK’s impressive vaccine rollout had seen the economy recover at a faster rate than initially expected. The IHS Markit/Cips purchasing managers (PMI) index for services registered 56.3 [...]
DEBATE: Should London have rent controls? April 7, 2021 Dr Kristian Niemietz, head of political economy at the Institute of Economic Affair says No Rent controls are a lot like socialism. Both have been tried dozens of times. Both have ended in failure every single time. And both remain insanely popular nonetheless. In both cases, supporters will insist that, far from having failed, the [...]
FTSE 100 jumps on post-lockdown hopes but Wall Street flat April 6, 2021 London’s FTSE 100 climbed by 1.4 per cent today as prospects of a planned re-emergence from lockdown next week boosted shares. The capital’s premier index currently stands at 6,840, its highest levels since 11 January. Across the Atlantic, however, the mood was more subdued, with Wall Street’s main markets flat at the open this afternoon. [...]
Mayfair mansion worth up to £100m for sale April 6, 2021 A Mayfair mansion, which could be worth up to £100m after redevelopment, is on the market, making it the largest residential property currently on sale in London. The Grade II-listed building at 38 Hill Street is on offer for £38m, with estate agents saying it could remain as a single mansion or be transformed into [...]
100 Bishopsgate set to be UK’s most expensive office April 4, 2021 The now-completed 100 Bishopsgate is primed to hit the market later this year for a cool £1.8bn. That figure would make it the most expensive office building ever sold in the UK. The Telegraph reported the news this morning. The 30-plus-storey building is currently owned by Brookfield, a Canada-based asset management firm. Jefferies and law [...]
Worlds collide: Non-fungible tokens could bring new use-cases to decentralised finance April 1, 2021 If you’ve been watching the crypto scene or even following trends among your favourite artists, you’ve probably heard the term ‘non-fungible tokens’ (‘NFTs’ for short). NFTs are having their spot in the limelight: over $200 million has been spent on NFT artwork in just this past month alone. NFTs are taking their place in pop [...]
Former Savile Row police station sold to European developer for £50m April 1, 2021 European real estate firm CPI Property Group has bought a former police station in Savile Row, in a deal that is thought to be worth around £50m. The firm, which owns property in Berlin, Prague and Warsaw, said the recently decommissioned West End Central Police Station at 27 Savile Row has been “acquired as a [...]
UK tells G7 that it’s time to ‘get tough with China’ on trade March 31, 2021 The UK’s global partners need to “get tough with China” on its unfair trading practices, according to international trade secretary Liz Truss. Truss has called for the World Trade Organisation (WTO) to be reformed and for China to stop designating as a developing country within the body, which means it benefits from looser rules on [...]