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Taylor Swift's Eras Tour expected to inject £108.5m into London's economy with upcoming concerts
By City AM
Taylor Swift's Eras Tour is set to pump £700m into the º£½ÇÊÓƵ economy over the course of its 20 dates, but the London leg is expected to see the highest level of spending per fan
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USS buys £405 million worth of shared ownership homes from Blackstone
By City AM
The Universities Superannuation Scheme has purchased a portfolio of 3,000 shared ownership homes
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Mining company uncovers eight massive diamonds in just six months despite falling demand
By City AM
Gem Diamonds, which mines in the Maluti Mountains of Lesotho, has reported a strong start to its financial year after uncovering eight diamonds over 100 carats in the first six months of 2024
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Safestay continues European expansion with new Budapest property
By City AM
The London-listed hostel group has acquired a new property in the Hungarian capital as part of its continued expansion into mainland Europe
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Just Group exceeds forecasts with £249m profit, analysts upgrade stock predictions
By City AM
The specialist financial services company for those at and in retirement has reported an underlying operating profit of £249m, 20 per cent ahead of consensus
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New worker health tax incentives may save º£½ÇÊÓƵ firms £2.65bn, CBI analysis reveals
By City AM
The new research comes ahead of the new Labour government delivering its first budget this autumn as it prepares to tackle the ongoing cost of living crisis, with the war in Ukraine driving up energy prices and inflation
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From inflation to GDP: Everything you need to know about the º£½ÇÊÓƵ economy this week
By City AM
Inflation is expected to rise for the first time since December, according to City economists, as a slew of official º£½ÇÊÓƵ economic data this week is poised to bolster the case for policymakers at the Bank of England not to cut interest rates next month.
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Record-breaking summer at Heathrow with millions heading to top destinations like Venice and Dubai
By City AM
The west London airport has reported that 8 million passengers travelled through the airport in July, making it the busiest airport in Europe despite the challenges
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Optimism returns to London's prime property sector with increased sales amid lower mortgage rates
By City AM
The capital's super-prime market seems to following a similar track to the general market: optimism is cautiously increasing as mortgages start to come down following the Bank of England's rate cut
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Expectations of interest rate cuts boost º£½ÇÊÓƵ business output to highest level since 2022
By City AM
A BDO survey found that output reached its highest level since July 2022 last month, driven by manufacturing and services
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HSBC commits to no branch closures until 2026, invests £50m in º£½ÇÊÓƵ network
By City AM
The bank is due to tell its nearly 15m º£½ÇÊÓƵ customers this week that it will extend a promise not to reduce its 327-strong branch network.
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Citigroup to scrap EU bonus cap for hundreds of London staff
By City AM
The news comes after Barclays told staff last week that its so-called material risk-takers (MRTs) would be able to earn a bonus worth up to 10 times their base salary, up from a current ratio of 2:1
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South West energy services firms snapped up by cash shell
Deals
Formal approval of the deal will be sought at a general meeting at the end of August
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AI Startup Userled Secures £4m for Hyper-Personalised B2B Marketing Automation
By City AM
Userled's platform allows B2B companies to create and automate highly personalised marketing campaigns without relying on third-party cookies, and has already been adopted by a number of high-profile firms
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Abercrombie & Fitch opens new Shoreditch store, remains quiet on diversity pledges
By City AM
The retailer was once described as "America's most hated retailer" due to its hiring practices and its approach to staff in stores, but has more recently pledged to change its ways
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Barclays to scrap EU bonus cap for top bankers and traders
Barclays
The move means the bank's material risk-takers (MRTs) will be able to earn a bonus worth up to 10 times their base salary, up from a current ratio of 2:1
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Office giant Derwent London raises rental outlook, CEO optimistic about London market
By City AM
In its half-year results, the office specialist said its income grew but valuations continued their decline
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Etihad Airways profits soar by 50% as passenger numbers rise despite global aircraft shortage
By City AM
The UAE flag carrier said it flew 8.7 million passengers in the six months to June, a 38% year-on-year increase that helped it to a post-tax profit of £183 million
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Sir Richard Branson's Virgin Records sees profit more than double in a year
By City AM
Virgin Records, which was set up in 1972 by Sir Richard Branson, Simon Draper, Nik Powell and Tom Newman, has reported a pre-tax profit of £76.9m for 2023
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KPMG º£½ÇÊÓƵ and REC report: Labour market slack continues to build in July
By City AM
The latest jobs report from KPMG and the Recruitment and Employment Confederation (REC) showed another decline in permanent placements, although at a slightly slower pace than the previous month.
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BT shares take a hit as market turbulence raises concerns about the FTSE 100 company's future
By City AM
BT shares have tumbled in early deals this morning as investors started to worry about the outlook for the FTSE 100 company
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Pinewood Studios' turnover surges almost 40% ahead of Marvel's The Fantastic Four
By City AM
The group behind the iconic studio said that it currently has 18 productions on site across its sites and that it expects activity to pick up throughout the year
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Vodafone advances £3.4bn shareholder return plan with new £430m buyback amid strategic overhaul
By City AM
The move comes after the FTSE 100 firm said in March it would return €4bn to shareholders as part of a broader capital allocation review following asset sales
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Coca-Cola HBC AG boosts full-year outlook amid robust sales growth in emerging markets
By City AM
The bottling giant behind Coca Cola and other major soft drinks reported revenue growth of 3.1 per cent in the six months to 24 June
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