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Heathrow Airport to cap off year in record style as passenger numbers soar
By City AM
The Hounslow hub said it served 6.5m passengers in November, up 6.1 per cent year-on-year, and on Wednesday forecast December would also be a record breaker. Christmas day is expected to see close to a quarter jump in passenger numbers, it added.
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Thames Water CEO defends bonuses of £770,000 for executives as firm posts £190m loss
By City AM
Chris Weston said the company had to offer staff “competitive packages” if it was to retain staff of a sufficient calibre to help turn the firm around, despite the regulator recently condemning customers being charged for what it has called “undeserved bonuses”.
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Harrods faces Christmas strike as hundreds of workers vote to walk out
By City AM
The industrial action comes amid the on-going revelations about former Harrods' owner Mohamed Al Fayed, who is accused of sexual offences against dozens of women
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Ethnic minority representation on boards stalls despite government review
People
Experts cautioned that the lack of progress could be linked to a “one and done” attitude
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Smiths News agrees deal with Mirror publisher Reach
Deals
The 200-year-old newspaper wholesaler is headquartered in Swindon in Wiltshire
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RSK Group snaps up 60-year-old construction consultancy
Deals
Kendall Kingscott has offices in the West Country, Wales and the South East of England
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WPP faces losing title as world's biggest ad agency to rivals in $30bn merger
By City AM
WPP could lose its title as the largest advertising company in the world after it emerged that US rivals Omnicom and Interpublic are in talks over a $30bn merger
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LendInvest moves closer to break-even as it eyes boost from government housebuilding plans
By City AM
The London-listed firm reported a pre-tax loss of £1.7m for the six months to 30 September, 2024, compared to a £15.7m loss during the same period last year
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City of London approves plans for new 36-storey skyscraper near Walkie Talkie tower
By City AM
The City of London Corporation's Planning and Transportation Committee has given the green light to the 36-storey tower
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Barbican Centre to undergo £191m regeneration as City of London approves funding package
By City AM
The City of London Corporation has approved a £191m funding package to repair and upgrade the Barbican, the City of London's flagship cultural and performing arts centre
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Restaurant group to open new Indian and BBQ eatery in Gloucestershire
Food and Drink
JM Socials already has 10 sites in its portfolio including Prithvi and The Mayflower
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Ƶ economic growth forecasts downgraded by CBI amid Budget pressures on firms
The Budget
The rise in national insurance contributions and the increase in national living wage have contributed to the downgrade
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Warpaint London set to acquire Brand Architekts in a £13.9m deal
By City AM
The company said under the terms of the acquisition, each shareholder would receive 48p per share
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Debenhams makes first profit since Boohoo rescue despite sales halving
By City AM
Debenhams, which was acquired out of administration by Boohoo in 2021, has recorded a pre-tax profit of £4.5 million for the year to 29 February, 2024, having made a pre-tax loss of £732,000 in the prior 12 months
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Gail's Bakery to open 35 new locations in England amid £500m sale talks
By City AM
The London-headquartered business opened 21 locations in its latest 12 months - a period which also saw its revenue surge from £181.7m to £231.7m
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Upper Crust owner SSP sees profit soar despite 'disappointing' European performance
By City AM
The firm, which runs cafes, bars and restaurants in train stations and airports, said that there were good performances in North America, the Ƶ and Asia-Pacific
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St James's Place to axe 500 jobs in £200m cost-cutting drive
By City AM
Around a sixth of the wealth manager's non-financial adviser workforce are set to be laid off in February, an internal memo, seen by Citywire, revealed.
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BAE Systems announces major recruitment drive, adding 2,400 apprentices and graduates in Ƶ by 2025
BAE Systems plc
The company will be training a record 6,500 young people next year including more than 1,500 in the North West
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9fin raises $50 million to revolutionise debt market analytics with AI
By City AM
The London-based financial data start-up 9fin was founded in 2016 by two university classmates and has so far raised $90m after its latest fundraising round
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Gatwick CEO calls for expansion to meet surging travel demand and alleviate delays
By City AM
Gatwick currently competes with Mumbai's Chhatrapati Shivaji Maharaj International Airport for a position as the world's busiest single runway airport
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WeBuyAnyCar sales slump by nearly £1bn as used car prices tank
By City AM
Webuyanycar has reported a revenue of £2.57bn for the year to 31 March, 2024, according to newly-filed accounts with Companies House
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Revolut extends secondary sale to thousands of earliest investors, including Republic users
By City AM
The British banking company has opened up the next phase of its sale to early stage investors
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Mothercare slumps to loss as Middle East markets continue to struggle
By City AM
The firm slumped to an adjusted pre-tax loss of £1.4m in the six months to the end of September after having made a profit of £1.8m in the same period last year
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Vauxhall owner Stellantis boss quits after Luton plant closure
Automotive
The resignation of Stellantis chief executive Carlos Tavares comes just days after the firm announced Luton closure and Ellesmere Port investment
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