Central Line closed during rush hour after reports of man with a knife December 14, 2016 The Central Line was closed during rush hour this evening after reports of a "man with a knife" on Bank station. Armed police carried out a search after closing down Bank and Liverpool Street stations. The two stations reopened just after 7pm. Commuters were evacuated causing travel chaos with one calling the ordeal "terrifying". Just been [...]
BI announces its best performing champagne for 2016 December 14, 2016 One of the world's leading fine wine merchants and traders has announced its top performing champagne of 2016. BI, formerly Bordeaux Index, said this year's best champagne on its LiveTrade platform was the 2007 Louis Roederer Cristal, with sales up 53 per cent since it was added to the live, two-way buying and selling platform [...]
Lingerie brand Bluebella secures £1m through crowdfunding for US expansion December 14, 2016 The British brand which created the official Fifty Shades of Grey lingerie has raised £1m – double its original target – in a crowdfunding campaign. Bluebella turned to its fans for help funding an expansion to the US, and reached a grand total of £1,088,700 by the time the campaign ended. Founder Emily Bendell said: [...]
US Federal Reserve raises interest rates to target rate of 0.5 to 0.75 per cent, with “gradual increases” to come in 2017 December 14, 2016 The US Federal Reserve has raised interest rates and set the scene for a further tightening of monetary policy throughout 2017. Rate-setting body the Federal Open Market Committee (FOMC) raised the target range for its federal funds rate to 0.5 to 0.75 per cent. The median expectation of FOMC members for tightening showed three further increases [...]
Brussels regulator sets out hurdles for London Stock Exchange merger December 14, 2016 The London Stock Exchange and Deutsche Boerse last night confirmed receipt of a statement of objections to their merger from the Brussels regulator. The European Commission is understood to have narrowed its focus on to concerns around derivatives clearing. In anticipation of these concerns, the London Stock Exchange said in September that it was exploring [...]
Rupert Murdoch’s 21st Century Fox set to make firm offer for Sky as early as tomorrow December 14, 2016 Rupert Murdoch’s 21st Century Fox is set to lodge a firm offer for Sky as early as tomorrow morning, City A.M. understands. Fox is not expected to stray from the £10.75-per-share value that it had previously agreed to informally with Sky. Read more: More pressure on Murdoch's Fox-Sky deal as pensions lobby group wades in [...]
These two top tech bosses have been named advisers to Trump December 14, 2016 Donald Trump has added top tech firepower to a group of business leaders who will advise him on economic matters. Uber boss Travis Kalanick and the entrepreneur behind Tesla and Space X, Elon Musk, have joined the President-elect's Strategic and Policy Forum which will involve meeting with the President frequently. Read more: Move over Trump and [...]
Business secretary Greg Clark says Nissan letter could be published December 14, 2016 The business secretary has today said he would be open to publishing a letter he sent to car manufacturer Nissan. When asked by the Business Committee if he would share the letter with its members, Greg Clark said he planned to release the letter once certain aspects which currently made it commercially confidential had passed. [...]
Early Christmas giveaway goes spectacularly wrong for Greece as EU suspends debt support December 14, 2016 The Greek government’s efforts to give its pensioners a big Christmas present has backfired spectacularly, after a key party in its economic bail-out suspended its debt relief programme. Greece’s government, led by Prime Minister Alexis Tsipras, had planned to spend €617m (around £517m) on a bonus payment to the poorest pensioners after protestors were teargassed [...]
Shortlist narrows for BBC chairmanship December 14, 2016 The shortlist for the new BBC chairmanship has narrowed to around six, with the government aiming to name the successful candidate early next year. Former Prudential chairman and Bank of England deputy governor Sir David Clementi, who was one of the architects of the new system under which the position has been created, is reported to [...]