Why banning Uber won’t save Belgium’s anachronistic taxi industry April 15, 2014 A Belgium court has ruled that one of the world's most innovative taxi services, Uber, is now illegal. Should the company have the temerity to continue its business it will be fined €10,000 (£8,200) for each violation. It has been a quick end to the company's time operating in Belgium, which only began in February. [...]
Imperial Tobacco to shut factories in UK and France amid falling sales and regulation April 15, 2014 Imperial Tobacco has announced this afternoon that it’s shutting factories in England and France, resulting in around 900 job losses. Waning sales in Europe, increased regulation and growth in illicit trade have hit the maker of Gauloises and Davidoff, which says its Nottingham and Nantes factories are now utilising less than half their manufacturing capacity. Since [...]
Real wages may rise, but earnings are still set for a lost decade April 15, 2014 This morning’s official figures confirmed another drop in inflation, with consumer prices rising by only 1.6 per cent in the year to February, the lowest in four and a half years. Average weekly earnings rose 1.7 per cent in the year to January, with private sector earnings up 1.9 per cent, and even stronger growth [...]
What you need to know before the US open April 15, 2014 US stock futures have edged slightly lower on the back of inflation and manufacturing data. US inflation inched up in March by 0.2 per cent, meaning an annual rate of 1.5 per cent. But the New York Empire State Manufacturing index showed business conditions in the city to be disappointing in April. The index came [...]
Odds are on for which tech giant will actually use drones first April 15, 2014 The race to use drones is the latest gold rush to consume our technology giants. One by one the main players are scooping up drone making firms, coming up with drone master plans and picking up the drone scent where others have left off. The latest player in the ring is “Jonny big bucks” [...]
Coca-Cola profits take 8pc hit April 15, 2014 Coca-Cola has announced a fall in profits of eight per cent for the first quarter of 2014 after volumes in Europe waned and the company sold its bottling operations in Brazil. The world's biggest soft drink maker saw revenue fall by four per cent to $10.5bn (£6.2bn) from $11.03bn during the same period the previous [...]
The deals that show how fast London’s office rent race is speeding up April 15, 2014 Competition is hotting up in the London office market, with space under offer now at its highest level since 2000, thanks to companies, who had previously shelved plans to move, kick-starting their search for new locations in the capital. Just over 4.1m square feet of space was under offer at the end of March this [...]
Why does it take the threat of a Russian invasion to stop EU protectionism? April 15, 2014 The European Union has proudly announced that it will be lifting €500m worth of tariffs on Ukrainian goods. The EU's magnanimous move covers 94.7 per cent of current tariffs on imports of industrial goods and all tariffs on Ukraine’s agricultural produce. Ukraine will not be required to provide reciprocity, but the EU will be obligated [...]
Explaining Britain’s housing crisis with one simple chart April 15, 2014 Want to understand what's driving stunning UK house price growth? The answer lies with a lack of planning permits, says Sam Bowman, research director at the Adam Smith Institute. Data released todays shows headline inflation has fallen to an October 2009 low, trundling along at 1.6 per cent in the year to March. Yet house [...]
German investor confidence knocked by Ukraine crisis April 15, 2014 Investor confidence in the Eurozone reached a high last seen in July 2011 this month. The Zew survey, which is released by the Centre for European Economic Research, gave a reading of 61.2 for April, down slightly on the 61.5 seen last month and above expectations of 60.7. But the survey also measures investor sentiment [...]