Let this be the week that Liz Truss moves into Number 11 Downing Street July 23, 2019 We are now at the end of the Tory leadership election. Today, we will have the results, and tomorrow, either Boris Johnson or Jeremy Hunt will be sworn in as Prime Minister of the United Kingdom. But throughout it all, another important contest has largely gone ignored: the race for Number 11. Within the Westminster [...]
London Underground: Entire Tube network set for 4G coverage by mid-2020s July 19, 2019 Londoners will be able to use the 4G mobile network anywhere on the Tube by the mid-2020s under plans unveiled by Transport for London. The first passengers to benefit from the roll out on the underground will be those using the Jubilee Line, with the eastern part of the line spanning from Westminster to Canning [...]
Let’s end the government monopoly of financial regulation July 19, 2019 The growth of financial regulation seems inexorable. Andy Haldane, chief economist at the Bank of England, has noted that in 1980 there was one UK regulator for every 11,000 people employed in finance, compared to one for every 300 people by 2011. At that rate of growth, the number of regulators will overtake the number [...]
Uber rival Kapten partners with Citymapper on London travel July 17, 2019 Citymapper has teamed up with rival Kapten to offer a £10 credit to some of its users. Users of Citymappers’ pass, which was launched in March, will receive a free £10 weekly credit for rides via Kapten, the only private hire firm to have teamed up with the transport app. Read more: French ride-hailing app [...]
Uber rival Via Van wins three-year licence renewal from TfL July 15, 2019 Ride-sharing service Via Van has had its London licence renewed for the next three years, following its launch in the capital last year. The three-year licence renewal puts Via Van ahead of rivals Uber and Kapten, which are operating on a probationary 15-month licence and a 12-month licence respectively. Read more: Mercedes-backed ViaVan launches weekly [...]
Budweiser blues: AB InBev scraps plans for largest IPO of 2019 July 13, 2019 The world’s largest brewer has abandoned plans for a blockbuster initial public offering (IPO). Budweiser owner AB InBev cited weak market conditions as it pulled the plug on a $9.8bn (£7.8bn) listing on the Hong Kong Stock Exchange. The float, which was billed as the world’s largest IPO of 2019, comes against a backdrop of [...]
Wework poaches Facebook executive as it gears up for stock market float July 9, 2019 Wework has poached senior Facebook executive Martin Ott as the firm looks to beef up its management team ahead of its highly-anticipated stock market debut. Ott, who previously served as Facebook’s managing director for central Europe, will join the flexible workspace firm as managing director for EMEA, City A.M. can reveal. Read more: EMA to [...]
TfL gives Indian ride-hailing app Ola the green light July 4, 2019 Transport for London has given Indian ride-hailing app Ola the green light to launch in the city. Ola said it has received a private hire vehicle licence and planning to launch around September. Read more: French ride-hailing app Kapten puts Uber in its sights “We are looking forward to building world-class mobility offerings for London [...]
Self-driving cars get first London test routes June 27, 2019 Self-driving cars have been granted their first ever London test routes in a major step forward for real-world driverless vehicle trials The testbed, which is a UK industry first, will consist of 26km of public road in Greenwich and the Queen Elizabeth Olympic Park in Stratford. Read more: Uber’s self-driving unit raises $1bn ahead of [...]
Daimler shares sink after third profit warning this year June 24, 2019 Daimler’s share price fell more than three per cent this morning after issuing a third profit warning this financial year. The Mercedes-Benz manufacturer warned investors that investigations into diesel vehicles is likely to hit profits by a “high three-digit million euro amount”. Read more: Daimler shares slide as it warns of difficulties The car maker [...]