It’s happening again – Gordon Dadds secures permission for a pop-up beach in Brixton May 2, 2016 You thought it was over… Pop-up beaches were the most fashionable way to kill time in London last year with everyone from Canary Wharf's bankers to office workers in Chiswick getting sand in their toes to celebrate the summer, and 2016 looks to be no different as City lawyers have overseen an application for a south London seaside [...]
Ferrari boss Amedeo Felisa speeds off into the sunset May 2, 2016 The chief executive of super car brand Ferrari is speeding off into the sunset and will be replaced by the luxury car-maker's chairman. Amedeo Felisa has announced his intention to retire, with Sergio Marchionne taking the wheel after being spun off from Fiat Chrysler at the start of the year. Felisa will leave the Italian car brand after nearly [...]
USA Today publisher slams rival for “lack of engagement” with “unsolicited” takeover offer and asks shareholders to show support May 2, 2016 US newspaper publisher Gannett has turned the heat up on Tribune, a rival company it wants to acquire. Gannett, which publishes USA Today and a number of local newspapers in the UK through Newsquest, last week made an $815m (£556m) offer for the Los Angeles Times and Baltimore Sun owner. Read more: From porn to property: [...]
London house prices: Growth in prime postcodes has declined to lowest rate in more than six years May 2, 2016 Annual house prices in prime central London areas grew at their slowest pace in six and a half years in April, as the economic uncertainty and recent tax changes continued to unsettle prospective buyers. Knight Frank's latest monthly sale index released today shows that although viewings are up by a quarter over the year, the number of prospective buyers [...]
Gold prices surge as weak dollar pushes precious metal above $1,300 May 2, 2016 Gold prices reached a 15-month high today as concerns around the strength of the US dollar and general volatility in the currency markets pushed up the price of the safe haven asset. The price of an ounce of gold broke through the $1,300 (£888) mark for the first time since January 2015 on Monday morning – [...]
Latest PMI survey suggests Eurozone’s manufacturers are not feeling the economic recovery May 2, 2016 Europe's manufacturing industry struggled for momentum last month, as the purchasing managers' index (PMI), which measures output in the sector, remained weak despite strong economic growth during the first quarter of the year. The PMI – where scores above 50 indicate expansion – came in at 51.7, a slight increase on March's score of 51.6, though one [...]
Tech entrepreneurs aim higher than alternative investment market despite increasing investor demand May 2, 2016 Technology companies are aiming away from the London Stock Exchange's alternative investment market (Aim) despite strong demand from investors, new research suggests. Less than a quarter of UK technology entrepreneurs are planning to use Aim as an exit strategy, according to research from law firm Nabarro out today. Although 82 per cent of tech entrepreneurs [...]
EU referendum: David Cameron and Boris Johnson are no longer BFFs because of Brexit May 2, 2016 There's nothing like Brexit to break up friends. While Britain is debating the EU referendum around the dinner table and at the pub (or, perhaps not), Britain's top leaders have been divided by the matter after taking opposing sides. London mayor Boris Johnson's high profile backing of the Leave campaign has caused a rift with the [...]
Oil field service companies announce breakdown of $28bn merger following intervention from US authorities May 2, 2016 Halliburton and Baker Hughes have called off their $28bn (£19.2bn) merger, which would have represented the largest oil field services acquisition ever. The deal abandonment comes after the US Department of Justice (DOJ) last month filed a lawsuit to stop the merger. The DOJ said Halliburton's acquisition of its smaller rival would hamper competition, raise [...]
Italy’s banking crisis deepens as failed capital offering sends stocks plunging across the industry May 2, 2016 The Italian banking sector took yet another blow over the weekend as one of its lenders failed to raise extra capital from shareholders causing stocks to plunge on Monday morning. Private sector investors agreed to buy just 7.7 per cent of the €1.5bn (£1.18bn) capital offering from Banca Popolare di Vicenza, which had been told by the European Central [...]