Before the bell: What you need to know before the US market open June 6, 2016 Markets are hoping for clarity from Fed chair Janet Yellen later and a British exit from the European Union is looking more likely as a poll gap narrows. Here's what you need to know before the US market opens at 14:30 London time. US stocks are pointing up in the pre-market. The S&P is up by 0.13 per cent, the [...]
Sterling slips again after latest opinion polls show strong support for Brexit June 6, 2016 The pound has yet again borne the brunt of the twists and turns of the EU referendum campaign, with another big drop in the value of the currency today after more opinion polls showed the Leave side on top. Sterling has lost 0.7 per cent against the US dollar today, falling to a three-week low of $1.4406, [...]
More money for proptech: HouseSimple raises £13m from Carphone Warehouse boss June 6, 2016 More money is flowing into up and coming property technology (proptech) companies, with the founder of Carphone Warehouse leading a new multimillion pound investment in online estate agent HouseSimple. Sir Charles Dunstone lead the £13m funding in the firm which ditches the high cost of traditional agency fees, along with his business partner Roger Taylor. An institutional investor [...]
Burberry’s Christopher Bailey just got a massive pay cut June 6, 2016 Burberry's chief executive was saddled with a 75 per cent pay cut today after a disappointing year for the British brand. Bailey will be getting £1.89m this year, down from £7.51m last year, according to the fashion house's annual report, released today. Burberry reported a 10 per cent drop in pre-tax profits, perhaps explaining why Bailey's [...]
Housebuilders are busy in the Home Counties as Londoners flee the capital’s ridiculous house prices June 6, 2016 Housebuilding is on the up in the home counties as Londoners flee outrageous house prices in the capital. There was an 11.3 per cent increase in residential planning approvals over the last year, up to 12,010 in 2015 from 10,793 the year before, according to commercial law firm EMW. The greatest increases in housing applications from [...]
Mayor of London Sadiq Khan vows to tackle air pollution as worrying new figures reveal capital’s health inequalities June 6, 2016 New figures that lay bare the extent of London's air pollution has sparked a promised crackdown by the Mayor of London. Data published today revealed that Londoners living in the capital’s most deprived boroughs are significantly more likely to die of lung cancer, asthma and other lung diseases than those who live in more affluent parts [...]
BlackRock agrees to sell Singapore office spot to Qatar Investment Authority for $2.5bn June 6, 2016 BlackRock announced today that it had agreed to hand over the keys to an office complex in Singapore to sovereign wealth fund Qatar Investment Authority for $2.5bn (£1.7bn). Asia Square Tower 1 consists of 43-storeys of space and more than 1.25 million square feet of area that could be let out. Citibank, one of the building's most notable tenants, has been in [...]
Softer support for remaining in the EU makes voter turnout crucial, poll shows June 6, 2016 With the EU referendum less than a month away, softening support among Brits for the Remain camp will make voter turnout crucial. An online survey by TNS UK found 41 per cent of UK respondents backed remain, while 43 per cent wanted to leave and 16 per cent were undecided. It accounted for differential turnout, or groups of voters less likely to [...]
This is Goldman Sachs’ favourite to win Euro 2016 June 6, 2016 If you have yet to place your bets on the upcoming 2016 UEFA European Championship, perhaps this latest round of predictions will help you, as one of the world's biggest banks gets in on the action. Goldman Sachs has revealed its favourites to win the tournament, which starts in France this week. The bank used historical data from [...]
Financial Reporting Council launches KPMG probe over additional services provided while it audited Ted Baker June 6, 2016 The accountancy watchdog has today announced an investigation into KPMG Audit over its handling of its additional services provided to Ted Baker. The Financial Reporting Council (FRC) has said it will be examining how the big four firm complied with ethical standards relating to providing non-audit services while it was auditing the retailer. The periods concerned [...]