Bernie Ecclestone reckons a £100m F1 race could hit London’s streets next year May 10, 2016 Could London’s streets be ringing to the sound of Formula 1 cars as soon as next year? The sport’s boss, Bernie Ecclestone, reckons so. Ecclestone has told ITV News there’s only one “small technical issue” is preventing the capital from hosting its own version of the Monaco Grand Prix, in which F1 cars use the City’s [...]
Mythic London Stone is going on show at Museum of London as current home on Cannon Street is demolished May 10, 2016 You've probably walked past it a thousand times without a passing glance, but an unassuming piece of limestone with a mythical back-story is to go on show at the Museum of London this week. Cannon Street's London Stone (not The London Stone) is the surviving portion of a much larger piece, and is thought to [...]
Nokia misses forecast, ups saving target May 10, 2016 Nokia missed analysts targets and has upped its cost saving targets in a difficult mobile infrastructure market. The figures Sales fell nine per cent in the first quarter of the year to €5.6bn (£4.4bn), missing analysts expectation of around €5.76bn. In the Finnish firm's largest market, the US, sales fell 17 per cent , while in the [...]
The UK economy is in desperate need of a productivity roadmap to give it a much needed boost May 10, 2016 It’s no secret poor productivity is partly to blame for the slowing of GDP growth. Official figures from the Office for National Statistics illustrate labour productivity fell by 1.2 per cent in the fourth quarter of 2015 from the third quarter, the biggest drop since the financial crisis in 2008. The latest ICAEW Economic Forecast [...]
Save BHS campaigners light up London landmarks as retailer administration rumbles on May 10, 2016 Campaigners trying to rescue iconic high street retailer BHS turned some of London's landmarks red, white and blue last night, with a city-wide campaign to find a saviour for the chain. Marble Arch, Wellington Arch, Blackfriars Bridge and BHS' Marylebone head office were among the buildings lit up by campaigners with the message #SaveBHS last night. "Come on Britain," [...]
China’s balancing act is the biggest risk to the world economy as inflation data shows prices still off target May 10, 2016 China’s economic rebalancing is the biggest threat to the global economy, the ratings agency Fitch has said, warning that a “hard landing” would trigger ripple effects around the world. The difficulties associated with shifting the world’s second largest economy from a reliance on investment towards consumption are “sharpening” according to Fitch, as authorities face the [...]
Channel 4 posts record revenues as investment in original content climbs May 10, 2016 Channel 4 has pushed revenues to record levels, as the public service broadcaster grows market share. Revenues climbed 4.4 per cent to £979m over last year – a £26m surplus – on the back of a record £455m investment in original content. In total Channel 4 ploughed £629m on content. Channel 4’s current target is to generate [...]
German steelmaker ThyssenKrupp cuts earnings forecast as crisis bites May 10, 2016 German steelmaker ThyssenKrupp cut its earning guidance for this year due to tumbling steel prices, despite posting a 26 per cent increase in first quarter net profit. The figures ThyssenKrupp said it expects full-year earnings of at least €1.4bn in 2016, compared to a previous forecast of between €1.6bn and €1.9bn. This came despite net profit rising 26 per cent [...]
One killed, others seriously injured after knifeman attacks rail passengers in Grafing, Munich May 10, 2016 One person has been killed and several others seriously injured after a man attacked passengers at a train station in Grafing, near Munich, local media is reporting. The knifeman is said to have wounded a number of people, at least three of whom are said to have been left with life-threatening injuries. One man has reportedly died from [...]
Credit Suisse posts second quarterly loss and warns over tough market conditions May 10, 2016 Credit Suisse posted its second quarterly loss today, as it warned tough market conditions could persist until at least the second quarter. The figures Credit Suisse reported a post-tax loss of 302m Swiss francs (£215m) in the first three months of 2016, compared to a profit of 1.1bn francs during the same period last year. But this was narrower than the average forecast [...]