Wal-Mart reclaims Fortune 500 crown as China snaps at its heels July 7, 2014 Chinese firms are closing in on the top spots in global business, as highlighted by yesterday’s update of the Fortune 500 index of corporate giants, which showed the world’s third and fourth biggest companies are now based in the planet’s second largest economy. Retail titan Wal-Mart regained its spot at the top, swapping places with [...]
Network Rail’s £53m fine will fund free Wi-Fi on busiest trains July 7, 2014 Network Rail is being forced to hand back £53.1m of its state funding for falling “significantly short” on goals to cut delays on Britain’s railways. The government confirmed yesterday that the fine would be spent on offering free Wi-Fi on the busiest trains. In the five years to March 2014, fewer than nine in 10 [...]
Uber cuts fares by 20 per cent in New York in price war with taxis July 7, 2014 Uber is cutting its prices by 20 per cent in New York in a bid to make the mobile app service for private hire cars more competitive than the city’s famous yellow taxis. The move follows similar price cuts for its UberX service in San Francisco, where the firm is based. Uber has seen strong growth [...]
Power cut chaos on the Chunnel July 7, 2014 Eurostar has warned passengers to expect further delays today after a power cut in the Channel Tunnel, which yesterday forced the evacuation of a train that was on its way to France. Four morning services through the Chunnel in both directions have been cancelled today.
In pictures: Vestra Wealth in bloom at Hampton Court Flower Show but don’t mention Chelsea July 7, 2014 The Chelsea Flower Show preview night has become one of the biggest soirees on the City calendar, with attendees almost as likely to buy companies as chrysanthemums – but what of last night’s Hampton Court Flower Show preview? Vestra Wealth is sponsoring a garden this year and held its preview drinks reception last night [...]
Pour de France: London battles rain to take in race through City July 7, 2014 At approximately 3.30pm yesterday, work in the City and Canary Wharf came to a grinding halt as bankers shuffled out on to the streets to get an oh so fleeting glimpse at Le Tour. The race was held up by roughly half an hour and there was a bit of grumbling as the heavens opened [...]
Diamond adds sparkle to Twitter July 7, 2014 The City’s Twitterati got quite the treat yesterday as it was joined by relative royalty. Bob Diamond swept into the Twittersphere, holding a big fish and adopting the handle @rediamondjr. Surely he hasn’t stepped down from his pedestal to walk among us in the squalid world of 140-character musings, we thought at first – but [...]
Taylor Wimpey backs stricter mortgage rules July 7, 2014 Taylor Wimpey yesterday welcomed new Bank of England rules to temper the housing market as “a positive move” as the housebuilder delivered a strong first half of the year. The group said a strengthening housing market helped sales rates and prices of its new homes come in at the top end of forecasts, while operating [...]
Analyst Views: What was your reaction to Taylor Wimpey’s half year trading update? July 7, 2014 ANTHONY CODLING | JEFFERIES At half time, there is no nervousness or need for a strong pep talk from team boss Redfern. His players are following the set game plan and leaving little to chance, having set the bar high with respect to value vs volume, they have left Persimmon with a lot to do [...]
Bottom Line: There’s still plenty of time to build on this bull run July 7, 2014 CRITICS of the government’s Help-to-Buy programme, which is often accused of doping up already-too-high house prices, sometimes refer to it as “Help-to-Sell”. The scheme, which either backs up or even contributes to mortgages, is certainly helping housebuilders to sell a few more properties and thus bolster their earnings. Such fortunes are reflected clearly in the [...]