Record number of tourists flock to London between April and June, spending £3.2bn October 15, 2015 The capital welcomed a record 5.1m tourists between April and June this year, continuing London’s five-year tourism boom. The number of international visitors to London was up six per cent on the same period last year, according to the figures published by the Office for National Statistics today. The total spent in the capital by tourists [...]
Repsol share price tumbles as Spanish firm reveals plans for £4.6bn asset sale October 15, 2015 Repsol's plan to sell €6.2bn (£4.6bn) of assets to reduce its unwieldy debt pile and keep investors happy was met with scepticism by the industry today, with questions over the viability of the oil giant's strategy. The Spanish firm's shares saw a turbulent day of trading, plunging over four per cent in the afternoon after a [...]
Battle of the banks: did Bank of America, JP Morgan, Citi or Goldman Sachs do better? October 15, 2015 Goldman Sachs, Citigroup and Blackstone, the world's largest alternative asset manager, were the latest Wall Street giants to report their earnings had been hit as the markets have taken a tumble. Blackstone made a first loss for the first time since 2011. While Goldman saw trading revenue fall by a third. "We experienced lower levels [...]
London house prices: The property rental market is being haunted by ghost-listings October 15, 2015 The crazy London property market has created another spectre that will leave renters with a chill down their spine. The letting market is being haunted by ghost-listings – ads for properties to rent that don't really exist. Eerily reminiscent of ghost gazumping which plagued house buyers last year, some estate agents (as if they weren't despised enough) are listing details of properties they've nicked [...]
The City of London launches plan to build 3,700 new homes October 15, 2015 The City of London Corporation has fired the starting gun on its biggest housebuilding spree in 40 years after committing to building 3,700 new homes by 2025. The City has traditionally been opposed to promoting residential development within its boundaries as it protects its status as the capital’s financial centre. It is also one of the [...]
London house prices might be mind-boggling for renters and young buyers, but it’s forcing creative solutions to the problem like never before October 15, 2015 This month, Daniel Radcliffe reportedly put his New York apartment up for rent at an eye-watering price of $19,000 (£12,500) per month. But now you can live the real “Harry Potter” lifestyle for a snip of the cost after an eager London renter in search of a new home tweeted a ‘room’ that was available to rent [...]
Argos signs drop-off and delivery deal with eBay October 15, 2015 Argos has joined forces with eBay to allow sellers on the online marketplace to drop off their parcels at the retailer’s stores and have them delivered within 48 hours. By the end of the year, eBay’s 200,000 sellers will be able to drop off sold products at 150 stores across the country, with more sites [...]
German government orders Volkswagen to recall 2.5 million cars affected by emissions scandal October 15, 2015 Germany's transport ministry has ordered Volkswagen to recall 2.4m vehicles with "defeat devices" over the next year, raising questions over how many cars will be recalled in the UK. The car giant said around 1.2m cars in the UK have been affected by the scandal, adding that customers will be contacted about bringing their vehicles in to be refitted. Some [...]
US inflation rate drops to zero in September but core inflation is nearly on target October 15, 2015 Annual inflation in the US dropped to zero per cent last month from 0.2 per cent in August, weighed down by cheap fuel, according to figures released today by the Bureau for Labor Statistics. The consumer price index (CPI) – the basket of goods and services used to measure inflation – fell 0.2 per cent from [...]
Console owners help drive profit jump at Game Digital October 15, 2015 GAME Digital said a rapidly growing population of Xbox One and PlayStation 4 console owners helped the video games retailer post forecast beating full-year profits. Demand for the latest generation of consoles has cooled and their average selling price has dropped since their initial launch two years ago. But a strong performance in accessories, new [...]