Oil prices under pressure as September US interest rate hike possibility climbs August 29, 2016 Rising chances of a US interest rate hike in September driving up the value of the dollar have put pressure on oil prices today. International Brent crude fell one and a half per cent to $49.19 per barrel at the market open in New York as a stronger dollar weighed on commodities and inventories remain well stocked by high output from Opec members. [...]
London restaurant app Velocity lands millions more pounds in funding August 29, 2016 A restaurant app founded in London which lets diners pay their bill with their phone has landed millions of pounds in new funding. With some of London's top eateries on board such as Hix, Sketch and Gymkhana, as well others in New York and Los Angeles among other cities, Velocity has bagged £17m in a series B round [...]
Concerns raised over deadlines for next round of global banking red tape August 29, 2016 A major global banking body has today warned some member states may not be able to implement the latest tranche of red tape on time. In its seventh report, the Basel Committee on Banking Supervision at the Bank for International Settlements warned some of the 27 Basel jurisdictions had raised concerns they may not be able to transpose some [...]
How to win friends and influence people: Andy Haldane isn’t doing a great job when it comes to pensions August 29, 2016 Experts labelled comments by Andy Haldane as "irresponsible" after the Bank of England chief economist said he would invest in property rather than putting money into a pension scheme. "It is extraordinary that someone in his position should make such irresponsible comments. If everyone acted on his views it would have seriously damaging consequences both for [...]
Ikea is letting you launch a pop-up DIY restaurant on Shoreditch High Street with 20 of your friends – for free August 29, 2016 Forget furniture, Swedish DIY titan Ikea is about to offer Londoners a very different type of do-it-yourself experience. Next month Ikea is set to open a fully immersive DIY restaurant space in the heart of Shoreditch, where you and 20 of your friends can take over a pre-prepared diner space to choose your own menu, cook and [...]
Frankie & Benny’s owner The Restaurant Group to concentrate store closures outside of London August 29, 2016 Frankie & Benny's owner The Restaurant Group (TRG) will focus the vast majority of its upcoming restaurant closures outside of London. The FTSE 250-listed firm announced on Friday it is set to close 33 of its most underperforming sites, including 14 Frankie & Benny's branches and 11 Chiquito restaurants after a "challenging trading" period. Just two of [...]
Shell’s Ben van Beurden: Carbon emissions will remain for “some time” August 29, 2016 The future of energy will be a "patchwork" of renewables and hydrocarbons meaning carbon emissions will remain for "some time", the boss of one of the world's biggest oil companies has said. Shell chief Ben van Beurden said the energy industry had to be "the contrarian in the room" about how realistic the transition from fossil [...]
There’s a new London Tube map showing your steps between stations August 29, 2016 A new map of the London Underground has been created to show travellers exactly how close stations are in the centre of the capital and get them walking across the city instead. The map shows the number of steps between the stations across zones one and two, demonstrating how locations such as Charing Cross Station and [...]