Regulator’s report stalls new Heathrow runway December 20, 2019 Heathrow’s new runway will be delayed by over a year after a report by the Civil Aviation Authority (CAA) restricted early spending on the expansion. The project is now expected to be completed between 2028 and late 2029, a setback of more than a year. Read more: Boris Johnson raises red flag in election over [...]
Donald Trump: US president to face Senate trial after impeachment December 19, 2019 Donald Trump became the third US president to be impeached after the House of Representatives yesterday charged him with abuse of power and obstructing congress. The move by the Democrat-led House sets the stage for a trial next month in the Republican-controlled Senate, which could see Trump convicted and removed from office. The House of [...]
Thin, light and mighty, the Surface Laptop 3 is Microsoft’s MacBook killer December 18, 2019 Microsoft’s Surface range of hardware has been around for seven years, but still manages to impress with each new device launched. Laptops that appear to have been sculpted out of single blocks of brushed metal. Tablets housed in alacantra keyboard cases. Two-in-one hybrids with skeletal, alien hinges, and gravity-defying desktop machines poised on silent hinges. [...]
Watchdog blasts British American Tobacco’s Lily Allen Instagram vaping posts December 18, 2019 British American Tobacco (BAT) is one of four vaping companies to have their Instagram posts banned by the Advertising Standards Authority (ASA). The posts saw celebrities like Lily Allen promoting e-cigarettes, something that is banned on social media. Read more: Watchdog puts BAT in sights as it weighs clampdown on e-cigs Posts including BAT nicotine [...]
K&K Property Holdings makes London debut with £130m Covent Garden deal December 18, 2019 Hong Kong’s K&K Property Holdings has made its first investment in the London market with the acquisition of an office block in Covent Garden for £130m. Tenants in the 90,916 sq ft tower include co-working firm The Office Group and Marathon Asset Management. Read more: Central London office take up surges as fintech sector grows [...]
The UK’s richest workers don’t live or work in London December 18, 2019 Professionals living in London are the poorest workers in Britain as expensive basic living costs eat up a large chunk of their salaries, according to the latest research. Despite enjoying an average monthly salary of £2,348.49 Londoners were left with just £221.16 to spend after essential expenditures such as rent, travel and food are taken [...]
Wework secures $1.75bn from Goldman Sachs fundraising push December 17, 2019 Wework has reportedly secured $1.75bn (£1.33bn) from a fundraising push led by banking giant Goldman Sachs. The embattled flexible office company has obtained the funding in a deal that will free up around £800m in cash, according to Bloomberg. Softbank has vowed to raise $5bn in debt financing as it seeks to rescue the loss-making [...]
Dame Vera Lynn wins trademark battle with gin brand December 17, 2019 Dame Vera Lynn has won a trademark battle over the use of her name by an artisanal gin brand. Halewood International applied to trade mark the Second World War singer’s name in June this year, but the 102-year-old entertainer opposed the attempt on the basis that it could appear that she was endorsing the product. [...]
Boris bans government ministers from Davos December 17, 2019 Prime Minister Boris Johnson has banned government ministers from the annual World Economic Forum jamboree in Davos. The Daily Mail’s Jason Groves reports that a Government source told him “Our focus is on delivering for the people, not champagne with billionaires.” The gathering of the business and political elite is seen as the premier networking [...]
City of London Group plots £50m capital raise for SME bank December 17, 2019 City of London Group is planning a capital raise of up to £50m early next year to develop its new UK small and medium enterprise bank, the company said as it revealed losses widened in the six months to the end of September. The figures The company’s losses widened from £2.35m to £3.34m after it [...]