SSI coke ovens and blast furnace to be closed after no viable offer was made for Redcar plant October 12, 2015 SSI's Redcar steel plant will be closed after no viable offers were received from potential buyers, the government confirmed this afternoon. SSI was wound up by the high court in Manchester last week at the company's request, but the Official Receiver had kept the site running while talks took place with interested parties, in the hope [...]
Standard & Poor’s slashes Volkswagen’s credit rating on emissions scandal October 12, 2015 More bad news for beleaguered car maker Volkswagen, after Standard & Poor's lowered its credit rating, as well as its bank and financial services arms. In a statement today, S&P said it was lowering VW's long- and short-term ratings to A/A-2, from A/A-1, and left its outlook at "negative", taking the same action with VW Financial Services [...]
Camden Tube refurbishment: Transport for London proposes “substantial” upgrade of north London station October 12, 2015 Transport for London has set out its plan for a major overhaul of Camden Town Tube station to make it fit for the volume of traffic the north London stop receives each day. TfL said the station, which is used by more than 80,000 people a day, would "completely transformed" under the plans, which have been [...]
Sex matters: Investors avoid funds managed by women as female-led funds attract 10 per cent less cash October 12, 2015 Women remain a rarity among mutual fund managers, and gender bias may be one cause for this. A new study has found that female fund managers get around 10 per cent less fund flows than their male peers from investors preferring to invest in male-managed funds. Less than one in 10 fund managers in the [...]
Met police have stopped guarding Wikileaks founder Julian Assange at the Ecuadorian embassy in London October 12, 2015 The Met police have stopped guarding the Ecuadorian embassy in London where Wikileaks founder Julian Assange has been sheltering for the past three years. The Met police tweeted that they have removed the officers who have stood guard outside the embassy since Assange sought refuge in June 2012, citinga “strengthened overt plan at [the] Ecuadorian embassy”. [...]
Government to give one-off milk payment for dairy farmers as Morrisons launches premium milk brand October 12, 2015 Struggling dairy farmers across the UK are to receive a one-off payment to help ease their cash-flow problems caused by the volatile price of milk, the government announced today. Farmers in the four nations of the UK will receive a cut of £26.2m between them. The Rural Payments Agency (RPA) plans to ensure the aid reaches [...]
Office rents in the outer London “donut” are rising at their fastest in 15 years October 12, 2015 Anyone planning to move their business out of the centre of London to save cash should think again, after new research suggested office rents on the outskirts of the capital increased by the most in 15 years in September. The research, by property services giant CBRE, found office rental values in the "donut" around the M25/outer [...]
10 crazy ideas for the future of London housing which just came a step closer to reality October 12, 2015 Floating houses and homes on top of hospitals: these are just two radical ideas which are a step closer to becoming reality in London. They are just two of 10 concepts which have been chosen as winners in a search to find ideas for the future of housing in the capital and that help solve [...]
Fire alert in Canary Wharf tower One Canada Square leaves workers out in the cold October 12, 2015 A fire alert meant hundreds of workers were evacuated from their offices at Canary Wharf building One Canada Square this morning. Fire engines were called to the iconic skyscraper this morning after an alarm was mistakenly triggered, meaning hundreds of the building’s staff were stuck milling around outside. A spokesperson from the London Fire Brigade said: “Engines were called out [...]
Angus Deaton wins Nobel Prize for Economics 2015 October 12, 2015 Princeton University professor Angus Deaton has been awarded The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel for 2015 "for his analysis of consumption, poverty, and welfare". The Edinburgh-born microeconomist had enhanced understanding of how individual consumption choices affected welfare and poverty "more than anyone else", the prize organisers said. "By linking detailed individual choices and [...]