Is there a case for easing austerity, even though the OBR says it would expose us to economic shock? July 17, 2017 DEBATE: Is there a case for easing austerity, even though the OBR says it would expose us to economic shock? YES – Scott Corfe, chief economist at the Social Market Foundation. The latest economic indicators for the UK do not make for good reading. Consumer confidence is down and household incomes are once again being [...]
Sean Bratches takes the wheel: F1 commercial chief on his plans to revamp the sport… and the future of the British Grand Prix July 14, 2017 After a 30-year career masterminding the growth of American sports channel ESPN from bit-part player to behemoth, Sean Bratches did not take long to realise retirement was not for him. Sitting on the sidelines lasted just over a year and he was tempted back by Liberty Media mogul Chase Carey in January to take on [...]
Six months are nearly up: Time for a Kraft-y Unilever takeover July 14, 2017 The Unilever takeover bid by American food giant Kraft may be back on again, if analysts at Susquehanna Financial Group are to be believed. In a research note, they observe that while there’s no concrete evidence to suggest Kraft will make another offer, the circumstances make it likely that it will. Kraft has not openly [...]
Olympic Stadium Formula One plan revealed: Audacious proposal shows Grand Prix circuit snaking through East London July 14, 2017 An audacious plan to hold a Formula One Grand Prix in and around Stratford’s Olympic Park has been pitched to the mayor of London, rivalling a separate bid to host a race in the Docklands. Reports of the Docklands plan surfaced earlier this week after the owners of Silverstone triggered a break clause in their [...]
Crossrail gets bigger: TfL to ramp up number and frequency of Elizabeth Line services with Reading ones doubled | City A.M. July 13, 2017 More services will be run on the Elizabeth Line than originally planned, Transport for London (TfL) announced today. Services from Reading will be doubled, while there will also be increased services to Maidenhead, Ealing Broadway, Southall and Hayes & Harlington when the line becomes fully operational at the end of 2019. TfL is bolstering the [...]
Budget watchdogs warn another financial crisis would destroy government deficit plans July 13, 2017 The government will miss its targets for reducing the spending deficit by “wide margins” if there is another big financial shock, the Treasury’s independent budget watchdog has warned. In a report on the risks facing the UK economy, the Office for Budget Responsibility (OBR) today said a scenario similar to the financial crisis a decade [...]
Gordon Bennett! No, Gordon Dadds: London is about to get its second listed law firm July 13, 2017 Gordon Dadds is set to become London’s second listed law firm. Work Group has announced an £18.8m reverse takeover deal to buy Gordon Dadds Group. As part of the deal, Gordon Dadds will from early August be the second law firm listed on the Alternative Investment Market (Aim), after Gateley, which floated in 2015. Read [...]
Uber merges with Yandex, its rival in Russia and Eastern Europe in latest retreat after China July 13, 2017 Uber has announced a merger with its rival in Russia in the latest bid by the multi-billion dollar valued startup to start turning a profit. It will take a 36.6 per cent stake in the combined business which will also include UberEats worth $1.4bn, ploughing an additional $225m in cash into the business. The new [...]
Financial Conduct Authority (FCA) proposes to clear the way for London Saudi Aramco listing with new rules July 13, 2017 The UK’s financial watchdog has proposed new rules to make it easier for sovereign state-owned companies like oil giant Saudi Aramco to list their shares in London. The Financial Conduct Authority (FCA) today launched a consultation on a new premium listing category that will exempt certain companies from rules on related party transactions and controlling [...]
No let-up in falling London house prices, says Royal Institution of Chartered Surveyors (RICS) July 13, 2017 There has been “no real easing” in the pace of decline of London house prices, a survey has suggested, with 45 per cent of chartered surveyors in the capital saying they observed a fall in prices in the past three months. The Royal Institution of Chartered Surveyors (RICS) said stamp duty, Brexit and the political [...]