Westfield Stratford evacuated as fire breaks out January 25, 2016 Hundreds of shoppers and retail staff have been evacuated from east London shopping centre Westfield Stratford after a fire broke out this afternoon. A spokesman for the London Fire Brigade told City A.M. the emergency service had been called to scene at around 12:45pm. The fire – which was "very small" – was not actually in Westfield itself, [...]
Here’s what early and seed-stage investor Seedcamp’s portfolio looks like: UK tech startups, fintech and blockchain January 25, 2016 One of the UK and Europe's leading investors in startups at an early stage has lifted the lid on its portfolio of companies. Eight-year old Seedcamp which initially started life as an accelerator but now concentrates on first-round funding, has backed more than 200 companies, which went on to pick up a further $365, in their next stage. Investments include [...]
Oil begins to slide again as HSBC cuts oil price forecasts January 25, 2016 So much for that oil rally. Brent crude slid back down to $31.36 in early afternoon trading – just as HSBC cut its oil price forecast fot he rest of the year. The fall in Brent crude came after oil cartel Opec, which produces 42 per cent of the world's oil, called for all oil-producing [...]
Tax code needs radical simplification in light of Google’s £130m deal with HMRC, says TaxPayers’ Alliance January 25, 2016 Following the news that Google will pay £130m to HM Revenue & Customs (HMRC) in unpaid corporation tax, the TaxPayers' Alliance (TPA) has called for the "radical simplification" of the tax code. "Yet again we have a case that demonstrates why we need radical simplification of our hugely complex tax system," said Jonathan Isaby, chief executive [...]
Aberdeen and M&G in the doghouse: Global funds battered by market turmoil rank as the worst investments on the Spot the Dog report January 25, 2016 Global equities have taken a battering this year, leaving managers of overseas investment funds in the doghouse, according to Tilney Bestinvest's bi-annual Spot the Dog report. According to the new statistics, £18bn of savers' money is held in serial underperformers, and 54 funds meet the criteria for a so-called "dog fund". This is a fund which has made failed [...]
Where will Generation Rent live? Purpose-built private rentals go on sale in Lewisham January 25, 2016 Large deposits and rising house prices have left many young professionals floundering at the bottom of the property ladder, forced into the private rented sector for far longer than they ever intended to be there. This leaves a gaping hole in the market for good quality PRS housing and some developers, such as charitable housing [...]
Bosses beware: employees could cost you £2,000 by time wasting on Snapchat and Whatsapp January 25, 2016 It's every boss' worst fears come true: the average UK worker costs a company £2,149 a year through time-wasting. Six weeks is how long it takes for new employees to stop trying to impress and let their behaviour slip, according to job site reed.co.uk. Once they're settled into a new job workers spend an average of 33 [...]
Iran’s economy gears up for $50bn investment boom: President Rouhani expects Western investment following the lifting of sanctions January 25, 2016 Hopes of a surge in trade between Iran and the West are high after the removal of nearly all economic sanctions which have left the country isolated. The hard-fought deal means the opening up of a $400bn (£280bn) economy, sitting on vast fossil fuel reserves, with a youthful population of close to 80m. “It is such a potentially [...]
Guardian reveals cost-cutting plans: Membership focus to help break even as Kings Cross move considered January 25, 2016 The Guardian has revealed it plans to cut costs by 20 per cent over the next three years in a bid to break even and could even consider leaving its plush Kings Cross headquarters. The media group which publishes The Guardian and The Observer hopes to break even by 2018/19 by reducing operating costs which currently stand at £268m a year. [...]
Alan Johnson talks Labour’s relationship with business, its prospects in 2020 and the EU referendum January 25, 2016 Labour is a party in disarray. Under the leadership of Jeremy Corbyn, it is struggling to connect with the public and earn back the confidence of business. Some polls have Labour commanding just 25 per cent of the national vote. And it does not help that the party’s MPs seem constantly embroiled in public rows [...]