Europe’s airports record soaring passenger traffic growth in April as Turkey bounces back to “full recovery” June 6, 2017 European airports recorded a surge in passenger traffic in April, growing by 14.1 per cent compared with the same time last year. According to European airport trade association ACI Europe, ongoing strong demand as well as airline capacity expansion helped, along with air traffic picking back up in Turkey. Read more: Airline industry bumps up [...]
Forced relocation of euro clearing from London would be “severely detrimental” to EU, global trade body warns June 6, 2017 A global trade association has told the European Commission it holds “grave concerns” over the proposal to force euro clearing activity away from London to the EU. The Futures Industry Association (FIA) warned that it “strongly believe[s] that a forced relocation of euro-denominated derivatives clearing would be severely detrimental to the economic interests of the [...]
Royal Bank of Scotland trial looks to be off: Shareholder group votes to accept 82p-per-share compensation offer June 6, 2017 The Royal Bank of Scotland trial appears to be off, with the shareholder action group said to have accepted a settlement offer this morning. The High Court judge was informed of the decision at 11am today, a source close to the group told City A.M. Directors of the shareholder group voted to accept the 82p-per-share [...]
UK rents have fallen for the first time in eight years with London seeing the most “substantial” dip June 6, 2017 May saw rents in the UK falling for the first time since December 2009, according to Homelet’s rental index. Last month, rents in Britain slipped 0.3 per cent compared to the same month a year ago with the average monthly rent now standing at £901. Five out of 12 regions in the UK reported rental [...]
UK retail sales slide as consumers cut discretionary spending, according to British Retail Consortium June 6, 2017 Retail sales fell back again last month as consumers started counting the pennies and cut their discretionary spending. Like-for-like retail sales were down by 0.4 per cent in May, according to figures from the British Retail Consortium (BRC), falling back from the sales boost the sector received over the Easter holiday. Non-food retailers dragged on [...]
Apple reveals HomePod, a smart home speaker to rival Amazon Echo and Google Home powered by Siri – price, release date, spec June 5, 2017 Apple has confirmed the rumours and unveiled a home speaker taking on rivals Google and Amazon – it’s called HomePod. “No one’s quite nailed it yet” said Apple executive Phil Schiller of the increasing number of home speakers and voice assistants on the market. “Just like iPod reinvented music in our pockets, HomePod will reinvent [...]
RBS in yet more hot water as real estate group PAG wins the right to appeal Libor case decision June 5, 2017 The Royal Bank of Scotland (RBS) has not yet managed to shake its post-financial crisis headache, as one real estate group has won the right to appeal a high-profile legal case to the Court of Appeal. Property Alliance Group (PAG) attempted to sue RBS last year for more than £30m, alleging that it had been [...]
What Brexit, the General Election and foreign demand means for London’s commercial property market June 5, 2017 Martin Samworth practically lives on a plane. As the chief executive for Europe, Middle East and Africa (EMEA) for one of the world’s largest property consultancies CBRE, he’s a busy man. In the last few weeks, he has travelled to Madrid, Colorado, Dusseldorf, Tel Aviv, Frankfurt, Lisbon, and New York. The property veteran, who joined [...]
Sovereign investors snubbing post-Brexit Britain in favour of Germany and the US, according to an Invesco survey June 5, 2017 Sovereign wealth funds and central banks are choosing to invest less in the UK following Brexit, as Germany and the US see a surge in popularity. The UK’s investment attractiveness dropped from scoring 7.5 out of 10 last year to just 5.5 this year, as rated by the 97 sovereign investors and central bank reserve [...]
General Election 2017: Dear Prime Minister, please listen to British business June 5, 2017 morning I am pleased to support an open letter signed by over 50 entrepreneurs, leaders and experts from across the UK. This letter will be delivered to the successful party elected to government on Thursday evening. The accompanying report, by The Entrepreneurs Network, “A Boost for British Businesses”, includes the ideas and policy proposals of [...]