Steel billionaire Lakshmi Mittal’s son-in-law Amit Bhatia is a Snap investor and he expects the IPO to boom March 1, 2017 Snap's impending float will be mega successful, according to a London investor in the messaging app. Amit Bhatia, steel billionaire Lakshmi Mittal's son-in-law and founder of Swordfish Investments, took part in a funding round in 2014 that valued the company behind Snapchat at $10bn (£8.13bn). "Far from looking to exit at IPO, I would look to add to my [...]
PepsiCo says 380 jobs are at risk as it prepares to shut its Walkers Peterlee factory March 1, 2017 PepsiCo, the US owner of brands including Pepsi and Tropicana, has said it is proposing to close its Walkers Snacks factory in Peterlee, County Durham, putting 380 jobs at risk. Under the plan, production at the plant would be moved to other UK sites, PepsiCo said, as it looks to find "crucial savings" and bolster [...]
Sky internet blackout: Vauxhall workmen blamed for broadband outage that hit tens of thousands of customers March 1, 2017 More than 50,000 Sky broadband customers in London suffered a service blackout after bungling south London workmen severed underground fibre cables and a response team took several hours to get to the scene of the incident. The network shutdown started at 4.30pm yesterday evening, with an inspection team taking three hours to get to the scene. Problems were rectified [...]
Jaguar Land Rover says the new Range Rover Velar will be built in the UK as a sign of “confidence in British manufacturing” March 1, 2017 Jaguar Land Rover has said the new addition to the Range Rover family, the Velar, will be built exclusively in Britain, as a sign of the "firm's confidence in British manufacturing". The model, which launches later today, will be built at its Solihull manufacturing plant in the West Midlands. JLR, which has plants abroad in China, Brazil, [...]
A new chapter: Barack and Michelle Obama sign book deals worth millions with Penguin March 1, 2017 Penguin Random House has signed a book deal with Barack and Michelle Obama that is reportedly worth $60m (£49m). The presidential pair have already written books published by Penguin. Obama wrote a memoir titled "Dreams From My Father", and penned his thoughts on the presidency in "The Audacity of Hope". Both books were bestsellers. Read more: Obama [...]
Ford set to axe 1,160 jobs at Bridgend engine plant, Unite warns as it gears up for strikes March 1, 2017 Unite has said up to 1,160 jobs will go by 2021 after Ford said it will cut investment in a new engine programme. The union has warned workers at Ford's Bridgend plant in Wales will be "one step closer to strike action" if the company doesn't commit to protecting jobs. At the moment, the headcount is [...]
British Land and Oxford Properties have sold the Cheesegrater for £1.15bn March 1, 2017 British Land and Oxford Properties have exchanged contracts for the sale of the Leadenhall Building to C C Land for £1.15bn. Shareholders of the Hong Kong-listed C C Land must now approve the sale before it can be completed. Tim Roberts, head of offices and residential, British Land, said: "British Land and Oxford Properties took [...]
Ofgem is proposing to reduce energy costs by cutting subsidies for small-scale power generators March 1, 2017 Ofgem is proposing plans to help consumers save up to £7bn by 2034 by cutting subsidies to some small-scale power generators that provide back-up energy during peak demand. The UK's energy watchdog said the proposals will cut about £20 per household per year as the costs are included in network charges on consumers' bills. It said the changes will make the energy system [...]
Nigel Farage is escalating his war on Ukip’s only MP, but he claims it’s not about that knighthood March 1, 2017 Former Ukip leader Nigel Farage has escalated his war with the party's only MP, accusing Douglas Carswell of "damaging" Ukip, the Brexit campaign – and Farage himself. Carswell, who participated in the official Vote Leave campaign, has been at the centre of reports relating to Ukip's hopes of securing a knighthood for Farage. Carswell has denied moving to block the honour. However, [...]
The Chelsea house price plunge: here’s how low prices will go March 1, 2017 Stamp duty changes rocked the central London housing market last year as buyers became less keen to fork out thousands of pounds in transaction taxes for homes worth over £1m. Asking prices on high-end homes in London's most affluent boroughs were slashed – some by as much as 30 per cent – as home-movers sought [...]