Addison Lee returns to profitability for first time since 2020 takeover April 27, 2022 Addison Lee announced today it has returned to profitability for the first time since its March 2020 takeover. In the financial year ending 31 August, the London-based private taxi provider achieved an adjusted EBITDA of £7.9m on a £164m turnover. Following the end of travel restrictions in the UK, the firm reported a 47 per [...]
How technology is transforming and unlocking real-estate asset classes April 27, 2022 The line between technology and real estate is blurring, bringing new opportunities and asset classes, particularly in residential, office and biotech, says Samantha Kempe, co-founder and chief investment officer of IMMO Capital. The sheer size of the real estate sector – the global figure reached a record $326.5 trillion (about £251.1 trillion) in 2021, according [...]
Covid: High Court rules government broke law by discharging hospital patients to care homes April 27, 2022 The government broke the law when they discharged thousands of hospital patients into care homes at the start of the Covid pandemic, the High Court has ruled. The High Court ruled the policy was “unlawful” as it did not take into account the risk to elderly and vulnerable residents from asymptomatic people spreading the virus. [...]
Young accountant wins payout over insurance chief’s ‘demanding’ millennial comments April 26, 2022 A trainee accountant has won a case against employer, after his boss said she had made “the wrong decision in giving a dyslexic person the job” whilst firing him from his job at the Lloyd’s insurance broker. 26-year-old accountant Jay Patel is set to receive compensation for unfair dismissal, after an employment tribunal heard his [...]
Investors should ditch volatile tech where ‘profitability jars against interest rates’, argues digital health guru April 26, 2022 Much has been made of the current shortage in carers in the UK. The latest ONS data indicates a vacancy rate of 8.2 per cent in the care sector, nearly double the national average, and an overall shortfall of 105,000 workers. Some forecasts even suggests that an additional 627,000 people will be required by 2030 [...]
Binance issues ‘refugee crypto card’ to help displaced Ukrainians move money April 26, 2022 Binance has today launched the Binance Refugee Crypto Card for Ukrainians forced to flee their homeland as a result of the Russian invasion.
Explainer-in-brief: Whitehall’s 19th century work-from-office edict April 26, 2022 Jacob Rees-Mogg, one of the last bastions of a bygone era in Parliament, has demanded civil servants return to their desks with a reminder of everything they’ve been missing – passive aggressive notes from colleagues. The minister for – and read this slowly – government efficiency left notes for civil servants not at their desks [...]
Death of the office? Don’t tell City businesses as leases shoot up in the first quarter April 26, 2022 London’s office market looks fitter and healthier than ever before, according to the two of the UK’s largest property firms, despite the lures of working from home. Take up of office leases in central London shot up 89 per cent year-on-year in the first quarter, CBRE data shared exclusively with City A.M. revealed. City firms [...]
Former aide to Cameron fights to keep co-working firm afloat with emergency cash April 25, 2022 One of David Cameron’s former aides is fighting to keep his shared office firm Second Home afloat as he rushes to secure £6m of emergency funding from investors.
Exclusive: More than two firms remain interested in Bulb Energy’s customers April 25, 2022 At least one other energy firm is still open to taking on customers from Bulb Energy, but has ruled out a full takeover bid of the collapsed supplier.