Carillion meltdown: From horror show to too big to fail – Here’s how City analysts reacted November 17, 2017 Carillion this morning proved its shares have yet to bottom out, with the firm’s stock plummeting almost 60 per cent in morning trades. Shares have since recovered somewhat, and are currently around a third lower than yesterday’s closing price. Profits will be lower and Carillion is struggling to sell businesses earmarked for sale. This means [...]
Meet Tesla’s new Roadster: The fastest production car ever made unveiled alongside its new Semi truck November 17, 2017 Among all the excitement about Tesla’s – admittedly pretty snazzy – new electric truck, Elon Musk also managed to surprise with another announcement. That’s right: Tesla has unveiled a new version of its original sports car, the Roadster. Musk said it’s the fastest production car ever made, with the ability to do 0 to 100 [...]
The avocado toast generation needs houses, not lectures on frugality November 17, 2017 The avocado toast generation just can’t catch a break. On Tuesday, a contrarian estate agent published a report guaranteed to antagonise everyone under 40, claiming that a millennial couple could easily save up the £90,000 average deposit for a first home in London, if only they spent less on silly things like sandwiches and lottery [...]
Venezuela can’t restructure its way out of this socialist nightmare November 17, 2017 Venezuela, once the most prosperous country in South America, can no longer pay its debts. After missing $200m of interest payments on two government bonds, the administration of President Nicolas Maduro was this week declared “in default” by ratings agency S&P. Though bondholders are yet to follow suit, this could happen at any moment, potentially [...]
Holiday Homes: Here’s how you can own a second home in the countryside without wreaking havoc on rural areas November 16, 2017 A place in the country may be the dream for urbanites who slog, nose-to-armpit, through the London commute every day. But the reality is, the trend for city types buying up country properties is wreaking havoc on rural life. Some towns, such as St Ives in Cornwall, have voted to ban second homes altogether. So, [...]
Property of the week: These twin houses in Richmond are where Virginia and Leonard Woolf founded their famous publishing house November 16, 2017 These twin Georgian townhouses, sitting side by side in Richmond, would turn heads even if they weren’t the birthplace of a world-famous publishing house. But as it happens, they were home to seminal author Virginia Woolf and her husband political theorist Leonard at the time they founded the Hogarth Press. Virginia and Leonard, Richmond, £3.75m [...]
Cabot Credit Management ditches £1bn float citing poor UK market conditions November 16, 2017 Cabot Credit Management, Britain’s biggest debt collector, abandoned plans to float yesterday, one in a series of ditched IPOs in recent months. In a statement, Cabot said that current conditions in the IPO market meant it would not be following through on the £1bn float. “The high level of engagement and interest that we received [...]
Unaoil bribery probe: Serious Fraud Office (SFO) charges Ziad Akle and Basil Al Jarah in Unaoil investigation November 16, 2017 The UK’s Serious Fraud Office (SFO) today charged two people amid an ongoing investigation into Monaco-based oil firm Unaoil. Ziad Akle and Basil Al Jarah were both charged by requisition with conspiracy to make corrupt payments to secure contracts in Iraq to Unaoil’s client SBM Offshore between June 2005 and August 2011. Akle was Unaoil’s [...]
Disruptive law firm Keystone reveals £50m float plans November 16, 2017 Disruptive law firm Keystone today announced plans for a £50m float to boost its brand and enhance growth prospects. Founded in 2002, Keystone was one of the first so-called “platform” firms. The company sits as an umbrella, allowing smaller firms to operate out of their own offices but under Keystone’s brand. Lawyers do not receive [...]
Spotify’s the latest tech giant to invest in London November 16, 2017 Spotify is the latest tech company to commit to London after Brexit with fresh expansion plans. The streaming giant which is expected to soon go public, will double its current 200 staff in the UK over the next two years with a major focus on research and development. The capital will become a “major hub” [...]