Insurer plans scalpel-shaped skyscraper in the City.
The US insurer planning to build London's newest skyscraper has said the 35-storey tower is a symbol of its ambitious plans for European expansion. WR Berkeley, which has commissioned architects Kohn Pedersen Fox, plans to finance the £500m project entirely from its own balance sheet. A quarter of the building, which resembles an upright scalpel, will be used as offices for the company’s 240 UK staff.
Deutsche Bank cuts equities sales staff in Asia
Deutsche Bank cut 10 per cent of its Asian equities sales and trading staff today, according to people familiar with the situation. The cash equities industry in Hong Kong and much of the rest of the world has been hit hard this year.
Money market funds pass on losses
Investors in the €1.1tn European money market fund industry are facing losses as big managers prepare to pass on the impact of negative short-term interest rates.
RM Education launch e-book system
RM Education is launching an online rental service allowing pupils to download schoolbooks and novels on their smartphone or computer.
Nine to sell off Australian magazines
An Australian media group has sold its magazines division to Bauer for about A$500 million in a last-ditch attempt to avoid breaching its banking covenants.
The Daily Telegraph
Hello! magazine to move up-market
The long-running magazine has announced plans to turn its back on the “scurrilous” world of celebrity and re-establish itself as a women’s “lifestyle and fashion” magazine, as it attempts to go up-market.
Twitter warned on chasing money
One of Twitter’s former board members has cautioned the social network not to be “short-sighted” about chasing money at the expense of users.
THE WALL STREET JOURNAL
News Corp nominates new directors
News Corp nominated former Labor Secretary Elaine Chao and former Colombian president Álvaro Uribe to join as directors amid other board changes.
Thirst for energy shapes Japan's ties
Russia and Japan are poised to seal an agreement this weekend that could lead to a liquefied-natural-gas shipping terminal.