S&P 500 reaches record high while FTSE gains despite dire unemployment figures January 26, 2021 The S&P 500 reached record highs on Tuesday ahead of a packed day of earnings, while the FTSE 100 recovered some of Monday’s losses despite a dire set of unemployment figures. London’s blue-chip index opened flat before rising 0.4 per cent higher to reach 6,666 points by mid-afternoon, while the benchmark S&P inched 0.1 per [...]
Exclusive: Brexit hit to London may top £9.5bn a year without EU financial services deal February 10, 2021 As the heart of the UK's service sector economy, London is in line to lose up to £9.9bn a year if a post-Brexit deal on financial services doesn't protect the City, new research out this morning finds.
London financial services jobs rise after Covid-19 crash October 19, 2020 The number of available jobs in London’s financial services sector jumped in the third quarter as confidence began to return to the capital. Finance job vacancies rose 53 per cent in the three months to the end of September when compared to the previous quarter, according to recruitment agency Morgan McKinley. For London workers changing [...]
Prime Minister Boris Johnson scraps ALL travel corridors for UK arrivals January 15, 2021 All travel corridors with the UK will be suspended for the next four weeks, the Prime Minister has announced, as ministers scramble to prevent new mutations entering the country. Speaking at today’s Downing Street press conference, Boris Johnson said all countries will be removed from the quarantine-free travel list from 4am on Monday morning. Travellers [...]
Government to invest £65m in new technologies September 10, 2020 The government has today announced that it will invest £65m into a range of future technologies including batteries for electric vehicles, robotics, and new medical treatments. The money will be made available through the Industrial Strategy Challenge Fund, which will help the UK build back better from the coronavirus crisis by transitioning to a low [...]
Heathrow plummets to £2bn loss in ‘toughest year in airport’s history’ February 24, 2021 Heathrow Airport plummeted to a loss of more than £2bn last year, amid the “toughest year by far” in its 75-year history, the company announced this morning. The airport crashed to an annual pre-tax loss of £2.01bn for the 12 months to 31 December, down from a profit of £546m in 2019. Revenue plunged 62 [...]
Mitie snaps up Interserve facilities arm to create outsourcing giant June 25, 2020 Mitie will buy the facilities management arm of rival outsourcer Interserve for £271m, the company announced today, creating a new business with nearly 80,000 employees. The move will make the company the UK’s largest facilities management group, and see Mitie increase its interests in the country’s lucrative outsourcing industry. The acquisition, which was confirmed this [...]
Evening Read: Investors sit on record levels of dry powder, says Silicon Valley Bank’s UK boss May 12, 2021 In recent months we have glimpsed potential opportunities for the post-Covid economy: the huge acceleration in technology adoption, both corporate and personal. And that’s good news for London’s technology and innovation space. But to get startups’ ambitious growth plans off the ground and put the pandemic recovery into motion, sources of capital are needed: financing [...]
Deal or no deal, reports of London’s death are greatly exaggerated October 23, 2020 London has for many years enjoyed the reputation as the world’s leading financial centre. Only New York has ever come close to challenging the capital’s crown — and since 2015 London has generally topped all the rankings. In that time, though, every paean to London’s preeminence has carried the gloomy caveat: “until Brexit”. The received [...]
Two Londoners clean up after flipping their business into sanitiser bays July 24, 2020 Two twenty-something Londoners are set to clean up after pivoting their mobile charging units firm into a hand sanitiser supplier. Hugo Tilmouth and Charlie Baron were set to launch ChargedUp, a network of mobile phone charging units which would sit in public places across the capital. But as Covid-19 hit, the firm – backed by [...]