This literally cool map of London shows the hipster migration east April 8, 2014 Is doesn’t take a genius to work out that London’s trendies have moved to east London over the past ten years, gathering into a melting pot of fixies, skinny jeans and iPads in Hackney and the surrounding area – but this map, plus handy graph, does illustrate it beautifully. Savills has gathered data from [...]
Investment in central London property hits record high April 8, 2014 Investment in central London commercial property jumped to record levels in the first quarter, driven by big ticket deals in the City & the Docklands and overseas buyers snapping up trophy schemes in the capital. According to Cushman & Wakefield, 32 deals took place across the City and the Docklands in the first three months [...]
Why are London’s educated young failing to find jobs? April 8, 2014 A new report lays out some of the stark truths behind London’s youth unemployment today. Despite a more highly educated young workforce, and the economic dynamism of the city, the number of unemployed young people remains outsized in comparison to other people in the country. London’s youth unemployment is particularly high in comparison to the [...]
The apps bringing you perfect craft beer April 8, 2014 A bevy of apps are entering the market, and they’re designed to help ale aficionados seek out their ideal suds. Craft beer is rapidly growing in popularity. In 2012, 415m pints of independently-brewed beer were consumed in the UK – up from 22.3m. That figure comes from the Society of Independent Brewers who, after 21 [...]
Lloyds struggles to hire IT director April 8, 2014 Lloyds is having trouble finding a non-executive director who can understand its creaking IT systems and bring the bank into the modern world, its former chairman Sir Win Bischoff said today. Currently its computer setup is made of decades-old systems from several banks, forced together over years of mergers and acquisitions. “They have been bolted [...]
Nokia gets the go-ahead for Microsoft sale April 8, 2014 The Chinese Ministry of Commerce has approved Nokia's planned sale of its devices & services business to Microsoft, the company said on Tuesday. The deal reached in September saw Nokia sell the business to Microsoft for €5.4bn (£4.4bn). However, Nokia retained its patent portfolio, which is seen by some analysts as an up-and-coming source of [...]
Banks slow pace of swaps mis-selling compensation April 8, 2014 The Financial Conduct Authority (FCA) has put out its latest figures on its interest rate hedging products redress scheme. Last month, a total of £598.4m had been paid of by the UK’s four largest banks to small businesses to which they mis-sold the complex products. In the month, £116.4m was paid out, down from £175m [...]
Manufacturing growth hits February 2011 high April 8, 2014 Yet more strong data from the UK's manufacturing sector. Both industrial and manufacturing production smashed expectations this February, with manufacturing production rising 3.8 per cent in the year to date. According to the Office for National Statistics, February saw the third consecutive monthly rise for the sector. The annual increase is the fastest pace of [...]
Former NATO secretary general says Scottish independence would be “cataclysmic” April 8, 2014 Scottish independence would be "cataclysmic" for the West and would be celebrated by Britain's enemies, according to the former secretary general of Nato, Lord Robertson. Speaking at the Brookings Institute, Lord Robertson said global stability could be threatened by a "debilitating divorce" between the UK and Scotland. Taking the debate over independence well beyond the [...]
What you need to know before the open April 8, 2014 A lower open for European markets this morning, as they continue the sell-off seen yesterday. With first quarter earnings season beginning in the US, stocks have seen some sharp declines. Although some European companies have been affected, markets will remain safely above their recent range lows. Having said that, ongoing tension over Ukraine remains in [...]