🚌Transport for London faces job cuts as funding deadline looms

View this email in your browser
8th December 2021
Good morning The award for the world’s worst Zoom meeting must surely go to Better.com where last week, the CEO of the US mortgage firm fired 900 employees on one video call.
The company later accused 250 fired staff of stealing by working “2 hours a day while clocking 8 hours+ a day in the payroll system”.
Share for a chance to win £100 Deliveroo voucher Share for a chance to win £100 Deliveroo voucher
Today's stories
  • Transport for London faces job cuts as funding deadline looms
  • UK startup raises $11m to take activist investing to the masses
Transport for London faces job cuts as funding deadline looms

What’s going on?
The Mayor of London is planning major job cuts to keep the city’s transport service afloat as it negotiates with the government for more funding.

Why is this important?
In 2019 Transport for London (TfL), the organisation behind the capital’s tube, bus and rail services, saw 27m daily journeys and generated close to £5bn in revenue.

Last year the pandemic decimated its finances as traveller numbers plummeted during lockdown resulting in a 90% drop in revenue. Since March 2020 it has received more than £4bn in government bailouts and is seeking a further £1.7bn as usage remains below pre-pandemic levels.

The government has called on TfL to take serious action to cut costs before any extra funding is granted. So up to 600 jobs across London stations are set to be axed to save cash. 

TfL and the government have until Saturday to come to an agreement as that’s when the current funding runs out. The additional cash, if granted, would run up to April 2023.

The mayor has warned that he will have to slash bus services and potentially close an entire tube line without a new deal.

With hybrid working becoming more prevalent as Covid lingers it’s likely that public transport use won’t return to 2019 levels for some time.

TfL expects that it will need an extra £6.6bn over the next three years to fund the shortfall in ticket sales.

With the government demanding drastic changes to TfL operations to extend extra cash, London transport services may look very different going forward.
UK startup raises $11m to take activist investing to the masses

A London-based investment platform that lets retail investors take on big business has raised $11m just four months after launching.

Tulipshare lets retail investors pool together their shares and voting power in global companies like Amazon, Coca-Cola and Apple to lobby for change. This activism is something usually only done by institutional investors like pension and hedge funds.

In the US, investors must hold $25,000 worth of company shares for a year to bring forward a shareholder vote. In the UK, votes must be supported by at least 100 shareholders or those representing 5% of the stock.

Tulipshare users can invest from as little as £1. Their shares are then aggregated with other users to reach the required threshold to table a shareholder vote to enact change.

To date the platform has launched campaigns including: safer and fairer conditions in Amazon warehouses, demanding all Coca-Cola bottles to be made from recycled plastic and calling for JPMorgan to stop investments in fossil fuel. 

The business model capitalises on two growing themes in the world of investment – retail investors and ethical investment. During Covid millions of people opened share dealing accounts and invested for the first time. At the same time companies have come under growing pressure to improve their environmental and social impact.

Tulipshare will use its new funds grow its engineering and compliance teams as well as complete its broker-dealer license process in the UK.
Stat of the day

Google and YouTube reached 49.7m people aged over 15 in the UK – everyone in the country who used the internet
Other stories to keep you in the loop
  • UK house prices rise at fastest pace in 15 years
  • Asda distribution workers to vote on strike
  • Amazon services down for thousands of users
  • Central bank of Norway acquires stake in Boohoo
  • Why your Christmas dinner will cost more this year
  • Zopa to exit peer-to-peer lending
  • Twitter acquires messaging platform Quill
  • UAE moves to Monday-Friday working week to match global business
Interesting links from around the web
Forward to Friend Forward to Friend
Not a subscriber? Join free
Sent this by a friend? Sign up here
How did you like today's email?
Get in touch with any feedback or even just to say hi

Copyright © 2021 Market Loop, All rights reserved.

Want to change how you receive these emails?
You can update your preferences or unsubscribe from this list (and break our hearts).


This email was sent to you
why did I get this?    unsubscribe from this list    update subscription preferences
Market Loop · 16 Great Chapel St · London, London W1F 8FL · United Kingdom

Email Marketing Powered by Mailchimp

Key phrases

Older messages

🍔EU regulation fears sinks Deliveroo shares

Tuesday, December 7, 2021

.... and 🎄 Tesco workers plan festive strike View this email in your browser 7th December 2021 Good morning The latest Global Drug Survey has named Australia as the drunkest country in the world after

👢Booted off?

Monday, December 6, 2021

.... and🍟 The chips are down View this email in your browser 5th December 2021 Good morning Last week the US adopted a new way for creditors to chase down debts using social media. Debt collectors can

💷Rich Brits

Friday, December 3, 2021

.... and 🎀All Thai'd up? View this email in your browser 3rd December 2021 Good morning Earlier this week, US lawmakers proposed a new bill – the Stopping Grinch Bots Act - to prevent bots from

📊UK on track for best growth in G7

Thursday, December 2, 2021

.... and 💸London crowdfunding pioneer snapped up View this email in your browser 2nd December 2021 Good morning The tenth edition of the 'Forbes 30 Under 30' list has been released featuring

✈Flying in the red

Wednesday, December 1, 2021

.... and 👪Keeping it in the family View this email in your browser 1st December 2021 Good morning To mark the first day of December and the official countdown to Christmas, we're giving you a

Consumer prices reach 30 year high

Thursday, January 20, 2022

.... and Peloton considers drastic turnaround plan View this email in your browser 20th January 2022 Bite-sized business news from the UK and beyond Good morning Yesterday 102 millionaires and

Planes are grounded

Thursday, January 20, 2022

Good morning! BharatPe doesn't have it Better. The fintech company's MD and co-founder Ashneer Grover, who is also a judge on Shark Tank India, has taken a “voluntary leave of absence”

Jan. 19 - Escada America files Ch. 11 | Forever 21 names new CEO

Wednesday, January 19, 2022

Women's fashion retailer Escada America files for bankruptcy; Forever 21 turns to retail veteran Winnie Park as CEO; Are Sephora and Ulta on a collision course?; Walmart signals metaverse plans

Assessing PE mega-fund growth

Wednesday, January 19, 2022

A new look at fund performance; Microsoft scores Activision Blizzard for $68.7B; Curbio brings home $65M; Mythical Games lands Polystream Read online | Don't want to receive these emails? Manage

Big News: I Just Sold the Niche Site Project 4 Site!

Wednesday, January 19, 2022

I have BIG news to share today! I've officially sold my site, OwnTheYard.com! This has been my public case study site for Niche Site Project 4 over the past 3 years. You can read all the news about

Jan 19: BetMGM CEO: market getting smarter

Wednesday, January 19, 2022

BetMGM FY21 update, Full House Q4 preliminary results, Esports Technologies earnings guidance, Michigan Dec21, NeoGames/Aspire reaction. ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

Posting better LinkedIn content...

Wednesday, January 19, 2022

Curious about NFTs, Reader? If you're ready to discover how to use Web 3.0 to grow your business, we've just launched a new show all about this exciting new frontier. Simply search “Crypto

Jan. 19 - Anheuser-Busch refreshes logo | Oscar Mayer's 'bologna-inspired' face mask

Wednesday, January 19, 2022

Oscar Mayer's 'bologna-inspired' face masks poke fun at self-care; As events again go virtual, marketing takeaways from a timely metaverse activation; TV tops in video for reaching

Digital Marketing in 2022: KPIs & Metrics That Matter

Wednesday, January 19, 2022

Learn how to set effective, data-backed KPIs and metrics to accurately assess your strategies. Learn how to set effective, data-backed KPIs and metrics to accurately assess your strategies. What: KPIs

How to Use Instagram Insights (in 9 Easy Steps)

Wednesday, January 19, 2022

If you're using Instagram in your role, it's critical to analyze your performance to make better marketing decisions on the platform. HubSpot Marketing Blog Jan. 19, 2022 marketer reviews