Where digital companies are setting up camp in London May 22, 2014 Tech-type firms have, for a long time, been victim of being lumped together as one sector, with property agents talking about these companies moving “east” of the capital. Often to rather confusingly entitled areas known as the City “fringe” or the “northern fringe” – names that make you think of a haircut rather than [...]
Why the World Cup is so bad for stock markets May 22, 2014 With the 2014 Fifa World Cup due to kick off three weeks today nerves are already starting to jangle among the City soccerati – but perhaps not for the reasons many would expect. It’s likely that all but one of the 32 teams will experience heartache in the coming weeks, but for stock markets, which [...]
Shell shareholders set for cash bonzanza after oil major scraps scrips May 22, 2014 Royal Dutch Shell announced this morning that it is cancelling its scrip dividend programme, after tax issues in the Netherlands meant that costs started racking up for the Anglo-Dutch oil major. The FTSE 100-listed firm introduced the programme in late 2010, as a means of conserving cash, but analysts estimate it cost the company between [...]
Video: London’s Shard struck by lightning May 22, 2014 Earlier this afternoon London's iconic Shard building was hit by lightning. According to a YouGov poll, 57 per cent of Londoners think it's changed the capital's skyline for the better. The 87-storey scraper has been given the seal of approval at one of the construction industry's top awards, voted the world's best. It's at least [...]
Business investment catches up with consumer spending boom May 22, 2014 Britain’s recovery is now balanced, official figures showed today and confounding worries that the surge in GDP is based only on household spending splurges. Business investment shot up by 2.7 per cent in the first quarter of the year, outstripping household spending which rose 0.8 per cent. Although business investment is a volatile [...]
Darkcoin surges ahead of Dogecoin to become fourth biggest cryptocurrency May 22, 2014 The good news just keeps on coming for privacy-centered cryptocurrency Darkcoin. In just 24 hours the digital currency has jumped 30 per cent to $10 per Darkcoin. Darkcoin's market cap has raced ahead of peers such as Dogecoin, reaching $43.2m. Darkcoin is now within striking distance of fellow virtual currency Peercoin, ranking as the world's [...]
Janet Yellen won’t be pleased with this month’s US home sales May 22, 2014 Data from the National Association of Realtors shows existing home sales up from 4.59m to 4.65m in April, with the change in existing home sales up by 1.3 per cent. Analysts at Investec said in a preview that these figures "are likely to take on additional significance this week following Janet Yellen’s comments regarding housing [...]
London’s Heron Tower just got a really boring new name. Thank you, Salesforce May 22, 2014 Salesforce.com, the US cloud software giant, is renaming Heron Tower in the City of London ‘Salesforce Tower London’. It’s not the catchiest of names but then, unlike some of its fellow skyscraping neighbours – the Cheesegrater, WalkieTalkie, Gherkin – Heron's never been christened by the public with an endearing moniker. George Hu, Salesforce’s chief operating [...]
What you need to know before the US open May 22, 2014 Investors will be taking time to digest the latest job numbers today, with stocks futures flat ahead of the weaker-than-expected numbers. Initial jobless claims for last week rose more than expected – to 326,000 from 298,000 the week before. Analysts had been expecting 310,000 people to sign on for the first time. Focus will shift [...]
The likely economic consequences of Thailand’s coup May 22, 2014 Thailand’s military has declared a coup d’etat in the country, in the wake of political turmoil. Not much can said for the insistence all of two days ago that the action was definitely not a coup. Thankfully, so far the coup does not appear to be particularly violent. Though in recent years [...]