Bitcoin price (BTCUSD) drops below $10,000 as ethereum (ETH) and Ripple (XRP) follow suit January 17, 2018 Bitcoin dropped below $10,000 today having halved from its peak of nearly $20,000 as fears of a regulatory clampdown persisted. The cryptocurrency dropped to as low as $9,801, its lowest point since before December, according to Coindesk’s aggregate price index. Bitcoin’s market cap has shed tens of billions of dollars since Monday as the digital [...]
UK pay growth will accelerate and jobless rate will hit fresh lows, insists Bank of England’s Michael Saunders January 17, 2018 Michael Saunders, a member of the Bank of England’s monetary policy committee, has insisted that UK pay growth will accelerate this year as the labour market tightens. Though subdued, he predicted the rise in the size of UK pay-packets would also be likely to overshoot consensus estimates to rise to three per cent year-on-year in [...]
Crossrail hands over Soho Place site to Derwent London for retail revamp and new West End theatre over Tottenham Court Road station January 17, 2018 Crossrail has handed over a West End site to developer Derwent London for work to get underway to develop a major £260m project over Tottenham Court Road station encompassing offices, retail and a new theatre. Crossrail land and property director, Ian Lindsay, said: This is the first Crossrail site to be handed over for full [...]
Train drivers’ union Aslef says the RMT is blocking a four-day working week for Tube drivers January 17, 2018 Unions are divided over the prospect of a four-day working week for Tube drivers, with Aslef saying the Rail, Maritime and Transport (RMT) union has blocked the proposals. A trial agreed with London Underground had previously been held on the Jubilee Line for six months of four-day rosters, and train drivers’ union Aslef said many [...]
Mayor Sadiq Khan unveils London Licence to safeguard pay for the capital’s bus drivers when they switch firms | City A.M. January 17, 2018 Sadiq Khan today unveiled a new “Licence for London” to ensure bus drivers can switch companies at a pay grade equivalent to their level of service and experience. The mayor said the move will provide a fairer deal for the capital’s 25,000 bus drivers, bringing an end to the previous system where drivers moving from [...]
GKN rejects Melrose’s hostile £7.4bn bid January 17, 2018 GKN has rejected an increased £7.4bn offer from industrial turnaround specialist Melrose after the firm ramped up its hostile bid for the engineer. Melrose today raised its offer to 430.1p per share following a meeting with the company’s shareholders this week. The increased offer is based on a rise in Melrose’s own share price, which [...]
Pearson shares drop on gloomy outlook for US college textbook market January 17, 2018 Publishing group Pearson was among the companies leading a fall in the FTSE 100 this morning, after it issued a trading statement. While the firm said its profits would reach the top end of guidance at as much as £606m, it revealed it was still grappling with the US textbook sector. Sales in the unit [...]
Minister for Loneliness appointed in memory of Jo Cox MP January 17, 2018 Tracey Crouch has been appointed as the first minister for loneliness, a position created in memory of Jo Cox. Cox, who was murdered shortly before the EU referendum, worked to tackle loneliness during her time as an MP. The new ministerial role was suggested by the Jo Cox commission, a body set up to continue [...]
After Carillion collapse, Interserve share price fell 14 per cent on report ministers were “worried” January 17, 2018 Shares in Interserve have dropped as much as 14 per cent this morning after reports emerged that ministers have set up a team of officials to monitor the company following the collapse of rival Carillion. The Financial Times said MPs had been monitoring the support services firm since a September profit warning when Interserve’s shares [...]
Challenger bank Revolut and Thomas Cook have just launched a pay-per-day travel insurance service activated by your phone’s location services January 17, 2018 Another day, another insurtech idea. This time, challenger bank Revolut has launched a pay-per-day travel insurance plan which relies on a mobile phone’s geolocational services. The scheme, which Revolut claims to be the first of its kind, can be turned on and off from a user’s phone. When in use, it will use the phone’s [...]