Ofgem risks losing public trust after British Gas’ profit bonanza July 31, 2023 Four years of heavy losses and instability in the energy industry were upended last week when British Gas posted record profits.
Welcome (back) to Ibiza, as the Balearic prepares for its biggest summer yet June 7, 2022 The pandemic hit every tourism-focused economy hard, but few places felt the effects of Covid more starkly than Ibiza, an island that specialises in squeezing lots of hot and sweaty people into enclosed spaces. Two years of closures and uncertainty took their toll – almost half of the island’s GDP comes from tourism and visitor [...]
Safe for now: Uber weathers labour and cost of living crunch but faces a rocky road ahead May 4, 2022 Uber seems to weather the wrath of labour and cost of living uncertainties, with quarterly revenue shooting up 136 per cent to $6.9bn.
Furlough fraud exposes the shortcomings of doling out endless amounts of cash January 20, 2022 Outrage has erupted over the news that £5.8bn has been “criminally siphoned off” the emergency Covid-19 schemes that propped up millions of workers and paid for us to eat on the cheap. The very same folk who complained ministers weren’t acting fast enough to provide support, rejecting warnings that furlough was excessively generous, are now [...]
The Notebook: Victoria Scholar on Chinese New Year, air fares and edible economics January 24, 2023 The notebook is where interesting people say interesting things. Today it’s Victoria Scholar, Head of Investment at Interactive Investor, on Chinese New Year, why air fares are on the increase and what we can learn about economics from food As the Chinese New Year begins, investors are increasingly turning their attention back to markets in [...]
A £300m planning application 249 times the length of War and Peace? Meet the man delivering the £9bn Lower Thames Crossing February 13, 2024 City AM sits down with the man delivering the £9bn Lower Thames Crossing, a project whose planning bid is the UK's longest ever.
An obesity strategy that stigmatises patients won’t work August 12, 2020 At the end of last month, the government revealed an array of measures as part of its new obesity strategy to “protect against coronavirus and safeguard the NHS”. Unveiling a 12-week plan to get the nation fit and healthy, the Prime Minister spoke openly about his own brush with death, and the part his excess [...]
In Defence of Capitalism: Why free markets can keep driving billions out of hunger and poverty March 1, 2023 In the first of an eight part series, the historian and sociologist Dr Rainer Zitelmann writes for City A.M. in defence of capitalism, arguing that freer markets are usually the answer to society’s problems, not the cause. Each week he will ‘myth-bust’ the common complaints about capitalism – and this week, it’s that capitalism is [...]
An online sales tax would be a small hassle for Amazon, but a hard blow for our shops June 21, 2022 The Treasury is considering whether to introduce an online sales tax (OST) as a “means to rebalance the taxation of the retail sector between online and in-store retail”. A decision is expected in autumn – probably as part of the Chancellor’s Budget. If the government has any sense, it will run a mile from taking [...]
FTSE 100 and US stocks climb as investor fears ease October 16, 2020 The FTSE 100 rebounded as investors returned to risk assets, having dumped them yesterday amid worries over new coronavirus restrictions, while US stocks rose on vaccine hopes and upbeat retail sales data. London’s main stock index climbed 1.7 per cent in afternoon trading to stand at 5,929 points. That followed a 1.7 per cent tumble [...]