Kerching: Tesla Model 3 pre-orders are now worth $14bn April 7, 2016 People are seriously loving Tesla's newest car. Just a week after the Model 3 was revealed, pre-orders worth $14bn (£9.9bn) have flooded in from eager car fans. That's an impressive 325,000 vehicles – roughly the equivalent of around 32 orders every single minute for the $35,000 electric car. Read more: Here's what you need to know about the Tesla Model [...]
Decks in the city: the DJ night bringing out the financial district’s secret shufflers April 7, 2016 Time to trade in those tailored suits for Wavey Garms: "Decks in the City" is boosting the profile of the financial district's secret DJs. The musical extravaganza, which showcases City workers with a secret passion for playing house music, is moving to the last Friday of every month (an upgrade from its former midweek slot), and the event's [...]
US economy is about to be “swept away by a tidal wave of corporate default”, roars Societe Generale uber bear April 7, 2016 A Societe Generale analyst has predicted the US economy is about to be “swept away by a tidal wave of corporate default”. Albert Edwards has not shied away from bearish comments in the past and has been dubbed an "uber bear". In February 2014, amid turmoil in emerging markets, he described the unravelling as "the final tweet of [...]
EU referendum: Impact of Brexit would be in part determined by UK’s negotiations with WTO members, says Roberto Azevedo April 7, 2016 Any impact of a British vote to exit the European Union will turn on the UK's negotiations with other members of the World Trade Organisation, the trade body's head has said. Speaking at a news conference in Geneva, Roberto Azevedo said that leaving the "EU will have an important trade component, clearly". Trade has been [...]
Interest rates could be going even lower in the Eurozone, the European Central Bank has said April 7, 2016 Interest rates in Europe could sink even further into negative territory over the next few months, the European Central Bank (ECB) confirmed yesterday, as it said that it would keep all options on the table in its fight to stave off deflation in the Eurozone. Minutes from last month’s monetary policy meeting, where ECB president [...]
Valeant has been given an extension to get its annual report squared away, pushing up its share price in premarket trading April 7, 2016 Embattled Canadian drugmaker Valeant Pharmaceuticals has been given an extension by its lenders to push back its deadline for filing its annual report by an extra month. Valeant's lenders have granted the company an amendment and waiver to its credit facility, allowing the company until 31 May to fill its annual report. It's also been given an [...]
UK financial services watchdog gives firms until next week to carry out their reviews into the Panama Papers April 7, 2016 The UK's financial services watchdog has given firms until next week to scrabble through their back offices and find out if they can be linked to Mossack Fonseca, the law firm at the centre of the Panama Papers scandal. The Financial Conduct Authority (FCA) confirmed to City A.M. today that it had sent a letter to [...]
Beautiful things: from digital turntables to robot vacuum cleaners April 7, 2016 Beautiful things: from digital turntables to robot vacuum cleaners
Party campaigns get up and running in local elections as Labour could be set to lose 150 council seats April 7, 2016 A number of political parties have got their campaigns up and running ahead of this year's local elections. The UK Independence Party today launched its local election campaign, while the Green party got started this week, with the London mayoral, assembly and local elections set to take place this summer. Ukip even launched a dedicated website, [...]