Almost one in 10 Londoners to be unemployed by the end of the year March 19, 2021 Almost one in 10 Londoners are set to be unemployed by the end of the year as the pandemic continues to wreak havoc on the economy, grim new figures have revealed. The unemployment rate in the capital is set to hit 9.4 per cent — or 464,000 economically active residents — in December, according to [...]
Exclusive: ‘EU will remain our key trading partner’, says London’s Deputy Mayor for business March 19, 2021 Last week it was announced that the rapid rollout of Covid-19 vaccines has led to business confidence hitting its highest levels in three years. The increase has been driven by the success of the vaccine rollout, especially in the UK, which has left firms more confident that restrictions will soon be lifted. Despite the increased confidence, UK’s [...]
Payments group Wise mulls direct London listing March 19, 2021 Payments company Wise, formerly known as Transferwise, is reportedly looking to list in London without selling new shares to investors. Upheld as one of the UK’s most successful startups, having reached unicorn status in 2015, Wise has long been considered a candidate for an IPO. The fintech, which was most recently valued by private investors [...]
Supreme Court rules care companies do not have to pay sleep-shifts March 19, 2021 The Supreme Court has dismissed appeals this morning to pay hourly for sleep-in shifts, a sigh of relief for care companies and investors but a setback for carers and healthcare staff. The ruling in the Mencap v Tomlinson-Blake case means the time a worker is required to sleep on site does not count towards minimum [...]
Hollywood real estate firm expands £350m east London film studio project March 19, 2021 Plans for a major new film studio complex in east London have been given a further boost after the scheme’s Hollywood backer announced it was pumping a further £50m into the project. Hackman Capital Partners (HCP), which owns studios where classics such as Citizen Kane and Gone With the Wind were filmed, last year took [...]
Government offers extension of emergency TfL funding deal until May March 18, 2021 The government has today offered to extend its emergency funding deal with Transport for London (TfL) until May, ensuring that services will be able to continue running. The proposed deal would be TfL’s third bailout in the past year, after the body’s revenue plummeted by more than 90 per cent last March during the first [...]
City Corporation welcomes plans to reopen Waterloo and City line March 17, 2021 | City Talk Canada Corporation has welcomed a commitment by Transport for London (TfL) to reopen the Waterloo and City line in the coming months. Services on the line – London’s second-most intensively used – have been stopped since March 2020. A TfL board meeting was told yesterday that the line would restart in May or June. [...]
Waterloo and City line to reopen as early as May, London Underground chief says March 17, 2021 London Underground chief says Waterloo and City line to reopen as early as May
Uber: What does the workers’ rights U-turn mean for the ride-hailing giant? March 17, 2021 Uber agreed yesterday to give its 70,000 UK drivers holiday pay and pensions following a landmark ruling in the Supreme Court. The court ruled that all UK drivers are employees of the taxi giant — rather than being self-employed — and are therefore eligible to receive holiday pay on a fortnightly basis. Susannah Streeter, senior [...]
White City’s flexible lab space opens up for London’s life sciences sector March 17, 2021 A lab space based in White City is releasing thousands of square feet of flexible office and lab space in a boost for London’s life sciences sector. Scale Space, a scaleup community which launched last summer, has announced plans to release 60,000 sq ft of space White City Innovation District reaches practical completion. The space [...]