China’s Wuhan tests 12m in six days after emergence of the Delta variant August 9, 2021 China’s Wuhan has completed citywide testing of some 12m residents for Covid-19 after just six days, to stamp out the emergence of the Delta strain. The testing programme, which began on Tuesday and finished yesterday, provides “basically full coverage” of all residents excluding children under the age of six and students on their summer break, [...]
New audit watchdog: FRC set to confirm CEO will move from London to Birmingham March 31, 2023 The CEO of the newly former audit watchdog will be based in Birmingham - a more than hour long train journey away from the country’s auditors, City A.M. understands.
Britain’s could see its biggest ever lottery winner as EuroMillions jackpot swells to £172m October 6, 2021 One person could become Britain’s biggest ever National Lottery winner if a single ticketholder scoops the entire sum in Friday’s EuroMillions draw. The EuroMillions jackpot is an estimated £172m. On Tuesday, the winning main EuroMillions numbers were 11, 13, 14, 36, 45 and the winning lucky star numbers were 07, 09. No-one won the top [...]
Aviva, L&G and top Tory MP piles pressure on Chancellor to open up share schemes January 24, 2024 Sir Graham Brady and some of Britain’s biggest firms, including Aviva and BAE Systems, are piling pressure on the chancellor to overhaul so-called share incentive plans and unlock a “new wave of employee share ownership”, City A.M. can reveal.
DEBATE: Will the M&S venture with Ocado turn around its fortunes? November 7, 2019 Will Marks & Spencer’s joint venture with Ocado turn around the struggling retailer’s fortunes? YES, says Adam Vettese, investment analyst at multi-asset investment platform eToro When you think of Marks & Spencer, you think of food. And not just any food, but top-quality food. In fact, food is so important to M&S that it now [...]
Debts, disputes and a ‘shadow CEO’: The curious case of Truspine June 18, 2024 Truspine Technologies has failed to take off since it floated nearly four years ago - and some are arguing this failure merits further investigation by City regulators. City A.M. takes a closer look at the firm’s labyrinthine history, uncovering a myriad of debts, disputes and detractors
Clucky escape: Nando’s avoids £300m debt default May 30, 2021 Lenders have given Nando’s some breathing space to avoid it defaulting on a £300m debt pile after being hit hard by pandemic-led restrictions. Banks including NatWest, Barclays and Santander have agreed to waive the testing of loan covenants in May, the Telegraph first reported, a move that helped Nando’s avoid defaulting. Covid restrictions have seen [...]
Exclusive: Tech chiefs look to win over pension funds on UK ‘sovereign wealth fund’ plans March 6, 2023 Tech and fintech industry chiefs have met with some of the City’s top pension funds as part of plans to create a UK “sovereign wealth fund” that could help unleash a wave of funding into the UK’s tech startups, City A.M. can reveal.
Marks and Spencer forced to pull item from website after it ‘rips off’ pub group’s logo April 14, 2023 M&S has removed a clothing item from its website after a pub company accused the retailer of “ripping it off”. Pub group The Craft Beer Co said in a tweet on Thursday that M&S had used its logo in a men’s T-shirt it was selling in its online store. The Craft Beer Co said: “Hey [...]
Elon Musk’s Twitter antics pushes Tesla’s $23m loss in Bitcoin assets July 27, 2021 Tesla’s lofty revenue, which surpassed analyst expectations today, has been offset by a $23m loss over Bitcoin which pushed the electric carmaker to dial back its investments. Elon Musk’s carmaker did not buy or sell any digital assets in its second quarter, as it dialled back investments after purchasing some $1.5bn in Bitcoin in the [...]