Manufacturer Rotork’s share price drops after warning oil slump will hit profits September 17, 2015 Shares in Rotork, the British manufacture that makes pressure valves for oil extraction equipment, fell as much as 16 per cent in morning trading after it issued a profit warning, the latest victim of the oil price bear-pit. The FTSE 250 company said it expected revenues for the year to fall to £530-550m, down from the [...]
Fed rate hike: “I’ll eat The Economist if US interest rates rise,” wagers Radio DJ Ed Mitchell September 17, 2015 Share Radio broadcaster and former BBC business journo Ed Mitchell was big news last year when he successfully returned from the brink of an addiction to drink and gambling. Despite being a new man now, he has just made another wager – he’s promising to eat a copy of The Economist, page by page, live [...]
The world’s poorest man Jerome Kerviel has handed himself in to French authorities September 17, 2015 Jerome Kerviel, the ex-Societe Generale trader who has more debt than anyone else in the world, has turned himself in to French authorities to begin a three-year jail sentence. His return home is something of an end point to a saga that goes from huge unauthorised trades on the eve of the financial crisis, to [...]
King’s Cross train crash: Four people taken to hospital after Cambridge train collides with buffer at London rail station September 17, 2015 Four people have been taken to hospital after a train collided with a buffer at King's Cross station this afternoon. National Rail has confirmed the incident took place just before 12:20pm. Only minor injuries have been reported so far. London Ambulance Service's tactical adviser Chris Hawkswell tweeted about the incident this afternoon, saying [...]
London has the UK’s weakest startup growth, with Nottingham, Bristol and Birmingham claiming the top spots for entrepreneurs September 17, 2015 London may regularly be referred to as the UK's "engine room of growth" – but when it comes to startups, that couldn’t be more wrong. The capital actually has the country’s weakest growth, according to Companies House data analysed by Instant Offices. Although the number of startups has increased 21 per cent in the past [...]
Jeremy Corbyn fun facts: Five things you didn’t know about the new labour leader September 17, 2015 We're learning a lot about Labour's new leader this week, from his views on homoeopathy to his PMQs debating style, but here are a few things you probably haven't heard… 1. HE LOVES CAMBRIDGE “I travel to Cambridge quite a lot, one of my secret joys is to get a train up and ride around for [...]
Transport for London secretly make a geographically accurate Tube map and it’s strangely hypnotising September 17, 2015 The London Tube map that's been in use since Harry Beck designed it in 1931 may (rightly) be lauded as a classic feat of design, but with all those 45-degree corners and straight lines, it doesn’t come particularly close to reality. Journeys that appear only a few hundred metres in length on the map sometimes [...]
UK businesses need to wake up to the threat of cybercrime – we’re not doing enough to stop it September 17, 2015 Cybercrime has become one of the biggest threats facing UK businesses, and the number and severity of attacks are increasing exponentially. Not only that, but the Department for Business, Innovation and Skills found that the average cost of a breach has doubled in the last year to stand at roughly £1.5m in big businesses. [...]
EU migrant crisis: The European Parliament has approved a relocation plan for 120,000 refugees September 17, 2015 The European Parliament has approved plans to relocate 120,000 refugees throughout the trading bloc, in a bid to help the countries most under pressure from the millions of displaced people crossing their borders. An emergency vote was called today after interior ministers rejected the scheme – designed to help "frontline" states Greece, Hungary and [...]
Four reasons why the Fed should not postpone a rate hike September 17, 2015 The probability of the US Federal Reserve ending seven years of near-zero interest rates September is stronger than is generally believed. While there is no perfect timing for the tightening monetary policy, several arguments confirm that the Fed is able to begin this month if it so desires. Here are the four we can see: The [...]