McLaren boss says operating costs now ‘break even’ following fundraising and redundancies, and downplays second wave fears October 19, 2020 McLaren CEO Mike Flewitt has described his “horrible” 2020 in an exclusive interview with City A.M., but says he is “cautiously optimistic” despite the second wave of coronavirus. Flewitt was forced to make 1,200 redundancies – almost a quarter of the company’s 4,000-strong workforce – and carry out a sale and lease-back of the McLaren [...]
McLaren CEO Mike Flewitt on a difficult year and an electrified future October 19, 2020 We have coffee with McLaren CEO Mike Flewitt, discussing the new 765LT, a "horrible" year and McLaren’s plugged-in hybrid future.
Back to Business: How East London baker Lily Vanilli changed direction to cope with covid October 16, 2020 Who are you and what do you do? I’m Lily Jones from Lily Vanilli, a baker and cake decorator based in East London. I have a weekend cafe on Columbia Road and make creative cakes and pastries to order for home delivery, weddings and events, as well as consulting for other brands and businesses. How [...]
The We Company drops name and returns to Wework October 14, 2020 Wework parent firm The We Company has dropped its “We” moniker and returned to its better-known name, as the company seeks to scale back its business operations in the wake of the pandemic. Wework, which provides shared office spaces in more than 38 countries around the world, said the move reflected its attempts to “strengthen [...]
Tube journeys hit highest number since lockdown October 14, 2020 There were more journeys made on the Tube last week than at any point since the beginning of lockdown in March, despite the imminent prospect of new restrictions being imposed on the capital. According to data from Transport for London, there were 1.56m such journeys made last Friday, beating the previous high of 1.52m. That [...]
Majority of UK businesses to scrap working from home post-pandemic October 8, 2020 More than two-thirds of UK businesses plan to scrap working from home beyond the pandemic, the latest official figures showed, as the number of commuters continues to escalate despite government orders. Figures released today by the Office for National Statistics (ONS) showed that 67 per cent of more than 24,500 British businesses surveyed said they [...]
Microsoft boss warns against rapid transition to working from home October 6, 2020 Microsoft’s chief executive has warned against the total transition to working from home during the pandemic, saying it would be “replacing one dogma with another dogma”. Satya Nadella, who has served at the helm of Microsoft since 2014, said it was “best not to get overly dogmatic” about where employees can work, despite the world’s [...]
London may be empty but community spirit must stay strong October 5, 2020 Just over six months since lockdown restrictions were first imposed, life today is very different for all of us with workplaces in the Square Mile. My workplace – Mansion House – would normally be buzzing with activity, hosting delegations from around the world and major set-piece events. The government’s recently revised guidance on working from [...]
Why a second lockdown could turn the lights out on the UK economy October 5, 2020 We have reached a crucial flexion point in the fight against Covid-19, and with this comes new, tighter rules to curb a possible second wave. There is now rising concern that a second wave may result in a second national lockdown, and businesses are urgently seeking reassurance from the government that they will be able [...]
Don’t let London become a Donut: Crowded on the outside, empty in the middle October 2, 2020 As a Londoner born and bred, I am acutely sensitive to the ebb and flow of people travelling in and out of London on a daily basis — the human tide of our capital. Despite various pleas and edicts, right now the centre of London is pretty much empty. The tide went out abruptly at [...]