Italian prosecutors have dropped a probe into lender Monte dei Paschi September 1, 2016 Troubled Italian lender Monte dei Paschi received much needed positive news yesterday after Milan prosecutors filed a request to shelve an investigation into alleged market manipulation and false accounting by its chief exec and former chairman. It emerged last month that Fabrizio Viola and Alessandro Profumo were being investigated in relation to the way the [...]
Mergers won’t necessarily make the system stronger says German banking chief September 1, 2016 The head of the Federal agency that supervises the German financial sector has warned that consolidation among banks would not necessarily strengthen the banking system. President of BaFin, Felix Hufeld said that "consolidation cannot be a goal in itself” when addressing a banking conference today. The news comes the day after local media reported that Germany’s two largest lenders, Deutsche [...]
Is Britain a BBQ nation? Laura Ivill thinks so and she’s spent the last few days of summer learning some grill skills September 1, 2016 Brits love to BBQ. I count the quality of the summer by how many BBQs I’ve had. A couple of years ago I had a New Zealand friend staying. So in tune with the BBQ lifestyle are the Kiwis that his family would have a cook-up on Christmas Day. On balmy evenings we would fire [...]
State-of-the-art £650m superlab opens in London September 1, 2016 A government-backed biomedical laboratory, the Francis Crick Institute, has opened in central London. Experts at the Crick will work to find new ways of fighting some of the world’s deadliest diseases. The one-million square foot building – which cost £650m – is behind St Pancras station and the British Library and will eventually be home [...]
Opinion: Research shows that homebuyers are ready to embrace new technology – but estate agents aren’t keeping up September 1, 2016 Buying or selling a property can be a stressful and daunting process. Choosing the right estate agent, and utilising new digital tools, can make all the difference – not only to the price but also to the overall experience. Dezrez recently conducted research to explore the attitudes, perceptions and expectations that UK home buyers have [...]
Inmarsat places $650m bond but isn’t planning to splash the cash September 1, 2016 Satellite company Inmarsat reached for the sky and succeeded as it successfully placed $650m of convertible debt. The placing was $50m more than the original deal size and Inmarsat said it reflected the “considerable demand” for the bonds which have a maturity that stretches out to 2023. “It was a popular placing that was oversubscribed [...]
Ten ways the electric car revolution will transform the global economy September 1, 2016 The world has begun a rapid switch to electric vehicles. In the first half of this year, worldwide sales were up 57 per cent to 285,000, despite low oil prices, and there are now more than 1m electric cars on the world’s roads for the first time ever. Last February, Bloomberg New Energy Finance (BNEF) [...]
New homes on sale in “mini-Manhattan” London City Island, marketed as the capital’s would-be culture hub September 1, 2016 London City Island, Leamouth Peninsula From £365,000 The final and tallest building in the London City Island development will go on sale on Saturday. The marketing suite on the Leamouth Peninsula site will throw a party with ice pops and a juice bar from 10am to 5pm to entice buyers to invest in studio to [...]
The implications of the Great Fire live on in the City’s buildings even today September 1, 2016 Three hundred and fifty years ago today, a fire broke out at a bakery on Pudding Lane. The rest, as they say, is history. Starting on a Sunday, the Great Fire raged until the following Wednesday, having ripped through the dense wooden buildings of the time. It destroyed 80 per cent of the City, some [...]
The SpaceX rocket explosion destroyed Facebook’s first satellite September 1, 2016 A SpaceX rocket has exploded during pre-launch testing, destroying Facebook's first satellite which was due to be launched into orbit. A huge plume of black smoke could be seen over the Kennedy Space Centre at Cape Canaveral in Florida. SpaceX leases the launch pad from Nasa. The Falcon-9 rocket created by Elon Musk's SpaceX has notched 26 successful launches [...]