Three tech start-ups hoping to win over John Lewis May 19, 2014 John Lewis will kick-off its search tomorrow for the next big idea to help its stores stay ahead in the digital age, with 30 technology start-ups battling out for a place in the retailer’s technology incubator JLAB. Each firm will deliver a five minute pitch to a panel of John Lewis directors and mentors [...]
Why today is a good day for Collateralised Loan Obligations May 19, 2014 Collateralised loan obligation funds, the much maligned corporate debt funds which vanished after the financial crisis, cemented their re-emergence today with the proposed listing of a new fund on London’s stock market – the first CLO fund listed in London since the financial crisis. Fair Oaks Income Fund, the brainchild of former executives from US [...]
How the World Cup’s creating 1,300 jobs via 56m slices of pizza May 19, 2014 If you’re watching the beautiful game, a few slices of pizza may well add to the experience. And with the Brazil World Cup just around the corner, Domino’s Pizza UK has just kicked off a new recruiting drive, to deal with the extra 6m pizzas it reckons it’ll be delivering over the period. The high [...]
What you need to know before the US open May 19, 2014 US stocks are expected to open lower today, following the distinctly choppy trading seen last week. Trading in government bonds continues to be solid, with nothing in the way of economic data to provide a guiding light for equity and fixed-income markets. The Fed’s April meeting minutes are due Wednesday, with some numbers from US [...]
Black market cigarettes on the rise after 150pc tax increase since 2010 May 19, 2014 The consumption of non UK duty paid tobacco (NUKDP) is showing its first increase in recent years as cigarettes have faced a 150 per cent tax rise since the start of 2010. The amount NUKPD of roll your own (RYO) tobacco has risen to a staggering 48 per cent, while the figure for stick cigarettes [...]
Six things you need to know about the new banking standards council May 19, 2014 Sir Richard Lambert’s report on banking standards will, he hopes, trigger a big shift in the way banks hold their own behaviour to account as they try to restore their reputations. His recommendations today have changed slightly since his last update in February, but he has stuck to his call for an independent body, [...]
What is Twitch and why is it worth $1bn? May 19, 2014 Google is reportedly swooping for three-year-old video game streaming service Twitch with an offer of more than a billion dollars. While watching other people play video games might not sound like a big business opportunity, it's an industry that has grown rapidly in recent years with Twitch playing a key role in boosting its popularity. [...]
Why the US labour market is starting to tear away from its Canadian peer May 19, 2014 Things are taking off in US employment growth. A Bank of America Merrill Lynch report published today highlights a widening gap between the labour market of the US and neighbouring Canada. Analysts note that the most recent monthly non-farm payroll data from each country looks strikingly different. Canada saw payrolls fall by 28,900 in a [...]
Fatty food is the new tobacco says international report May 19, 2014 The global food industry could be facing a regulatory regime similar to that of the tobacco industry, if world leaders follow the recommendations of a report released by the World Obesity Federation and Consumers International. The two international bodies recommend that the world's governments undertake a binding commitment to place stricter controls on food marketing [...]
Bankside Power Station (AKA Tate Modern) suffers power failure May 19, 2014 Oh the irony. The Tate Modern, based in the former oil powered station on the banks of the Thames, suffered a power failure this morning causing it to shut. The gallery, one of London's most visited attractions, had to turn art fans away while they tried to return power to the huge building. [...]