The UK’s “upmarket Airbnb” Onefinestay just got bought by a major hotel group for millions April 5, 2016 A UK startup which offers luxury Airbnb-style holiday rentals has been acquired by a major hotel group for a multi-million pound sum. French hotel group AccorHotels has snapped up Onefinestay for £117m. “Onefinestay has successfully captured a sweet spot: a combination of needs that neither traditional hotels nor new actors of the sharing economy can meet," said Accor's [...]
EU referendum: Remain campaign overtakes Leave but results show turnout will determine the result April 5, 2016 Remain has overtaken Leave in the EU referendum, but the outcome will depend on which side can garner better turnout amongst their supporters, according to a new poll. An OBR poll for the Telegraph found that 51 per cent of voters now support Remain, an increase of four per cent from last month. Meanwhile, Leave [...]
Supermarket sales rise over Easter – but prove egg-sasperating for Tesco, Morrisons and Asda April 5, 2016 It could have been so easy for supermarkets. Not only are prices at an all-time low, but an early Easter pushed sales up compared with last year, new figures have shown. But while the Easter bunny hopped along to most of the nation's retailers, the big four continued to struggle. The figures, by Kantar Worldpanel, showed sales [...]
IMF chief Christine Lagarde: Yes, global recovery is shaky – but don’t panic April 5, 2016 Christine Lagarde has warned that she is “on alert” over the shaky foundations underpinning the global economic recovery and called on politicians and central banks to make sure they are doing everything they can to promote sustainable growth. In an address to Goethe University, the managing director of the International Monetary Fund (IMF), said the [...]
Barclays customers can now use Apple Pay… finally April 5, 2016 It's been a long old wait, but Barclays has finally jumped on board the Apple Pay bandwagon. Barclays is the last of the major banks to support Apple Pay in the UK, letting customers pay with just the swipe of their iPhone or Apple Watch. “Since we introduced contactless to the UK in 2007, it’s [...]
Credit Suisse chief executive Tidjane Thiam says bank is on course to double profits in Asia in three years April 5, 2016 Credit Suisse is on track to double profits in Asia in three years, its chief executive Tidjane Thiam has said. Thiam added that Credit Suisse would continue to invest in Asia. "We're on course. We said that we would continue to invest in Asia. We think this is a great time to invest because a lot [...]
City Moves for 5 April 2016 | Who’s switching jobs April 5, 2016 Bevan Brittan Law firm Bevan Brittan has announced that Joanne Easterbrook has been appointed senior partner with effect from 1 May 2016. Joanne succeeds Bethan Evans in the post, who is returning to full-time local government client work. Joanne is a highly experienced partner and recognised specialist, leading the firm’s clinical risk practice and counting [...]
Londoners are sick of all the skyscrapers – we’ve mapped how many are planned near you April 5, 2016 From the Gherkin to the Shard, some of London's most well-loved landmarks are skyscrapers, but new research shows the capital's residents are getting sick of all the glass towers going up. A total of 430 new towers are planned for the capital, but a poll from YouGov has shown nearly half of Londoners – 48 per cent – think the [...]
Allergan shares tumble in after hours trading as US Treasury takes further steps to curb ‘inversion’ deals April 4, 2016 Shares in Dublin-based pharmaceutical company Allergan have slumped by almost 20 per cent in after-hours trading, after the US Treasury said it was taking steps to curb so-called 'inversion deals' in which US firms reincorporate overseas following an acquisition. Allergan has agreed to be bought by Pfizer in a $160bn (£112bn) deal that would see Pfizer [...]
Global investment banking fees fall 29 per cent year on year to lowest first quarter since 2009 April 4, 2016 Global investment banking fees fell 29 per cent year on year in the first quarter of 2016, according to new figures. Global fees reached $16.2bn (£11.4bn) by the end of March this year – making it the lowest first quarter since 2009, according to Thomson Reuters figures out today. Read more: Investment banking revenue plummets to [...]