City leaders recognised for services to business in New Year honours December 30, 2017 The Square Mile has weathered a turbulent year, and as 2017 comes to a close, business leaders have been recognised for their work to promote UK industry through a period of immense change. Business leader Ken Olisa, former Lord Mayor of London Andrew Parmley, and City grandee Anthony Habgood, have been given knighthoods. Vivian Hunt, [...]
South Korea seizes ship in row over illegal oil transfer to North Korea December 29, 2017 South Korea has said it seized a ship last month that it suspected was delivering oil to North Korea, breaking international sanctions. The Hong Kong-registered vessel, the Lighthouse Winmore, was stopped as officials said it transferred 600 tonnes of oil to a North Korean ship. Read more: North Korea says UN sanctions are an “act [...]
New Year’s resolutions: These five podcasts can help you change your life in 2018 December 29, 2017 As the current year draws to a close, it’s not unusual to start looking ahead to what the next might bring. Many people will go into 2018 with big plans, or hopes, at least, of really shaking things up over the next 12 months. So here’s a list of five episodes of the City A.M. [...]
Goldman Sachs’ fourth-quarter earnings take a hit on Donald Trump’s tax changes December 29, 2017 Goldman Sachs has estimated that President Donald Trump’s tax changes will knock billions of its earnings. The investment giant has said in a filing to regulators that its fourth-quarter results, which are due in January, will be hit by $5bn (£3.7bn) as a result of the tax changes being brought in by the Trump administration. [...]
First-class finish: UK markets close 2017 on a record high December 29, 2017 The UK stock markets have smashed a record high on the last trading day of the year. The FTSE 100 climbed 0.85 per cent in the half-day session, reaching 7,697.6. Over the year, the blue-chip index rose 7.6 per cent. Meanwhile, the FTSE 250 rose 0.41 per cent to a record 20,726.3. The index was [...]
Donald Trump hits out at Amazon as he calls on US Post Office to hike prices December 29, 2017 Donald Trump has hit out at Amazon in a call on the “US Post Office” to raise prices. He seems to be referring to the US Postal Service, which he also claimed was becoming “dumber and poorer”. The US President made his remarks via Twitter, writing: “Why is the United States Post Office, which is [...]
Here’s what the City of London skyline will look like in 2026 December 29, 2017 The City is home to the most ambitious architecture in London – and its profile is set to change dramatically over the next 10 years. In the Square Mile’s so-called eastern cluster, which is home to the Cheesegrater, the City of London Corporation has given the green light to 13 new schemes. These developments will [...]
Apple apologises for deliberately slowing down older iPhone models December 29, 2017 Apple has apologised to customers for deliberately slowing down iPhones, although it said this was done to prolong the lifespan of its devices. The company first admitted to slowing older models earlier this month, after facing a slew of accusations. Now the tech giant has issued a statement on its website in which it admitted [...]
Margaret Thatcher warned John Major about defending ERM membership December 29, 2017 Margaret Thatcher warned John Major that keeping the UK in the European exchange rate mechanism (ERM) and refusing to cut interest rates put the UK economy at risk, according to newly-released archives. At a meeting in January 1991, Thatcher told Major that maintaining high interest rates to keep the UK in the ERM risked replaying [...]
Softbank shareholders give Uber deal the green light December 29, 2017 A consortium led by Japan’s Softbank has agreed to buy a 17 per cent stake in Uber, after shareholders approved the purchase. A deal between the ride-hailing app and the Softbank-fronted group was first floated around two months ago, and yesterday, Softbank investors gave it the green light. The transaction values Uber at approximately $48bn [...]