Thomas Cook pension funds in talks over buyout deal September 27, 2019 Thomas Cook’s pension funds are in talks with insurers to mitigate cuts to payments for the employees of the collapsed travel firm. Chair of trustees Steve Southern has launched discussions with several parties about a buyout deal to prevent pension scheme members losing out on payments, Sky News reported. Read more: 40 per cent of [...]
Renewables soar on strong wind September 27, 2019 Generation of renewable electricity soared last quarter in Britain as new wind energy came online, bringing the country a small step closer to phasing out emissions. Electricity from renewables rose by nearly 10 per cent year-on-year, government data released today shows. Read more: IEA boss Fatih Birol: Oil demand could slow if economy stays weak [...]
Peloton shares sink on second day of trading September 27, 2019 Shares in fitness start-up Peloton sank a further four per cent today after making a disappointing stock market debut yesterday. Peloton shares were initially priced at $29 when the company listed in New York yesterday morning, but closed more than 11 per cent down at $25.75. Read more: Peloton prices float at $29 per share [...]
Jacques and the bean hoax: French firm fined over veg cartel September 27, 2019 A French and a Dutch company have been fined nearly €32m (£28m) for a 13-year cartel which pushed up the price of green beans, peas and canned vegetables. The European Commission said it was charging France’s Cecab €18m, while Coroos, a Dutch company, will have to pay €13.6m for taking part in the cartel. Read [...]
Wells Fargo poaches BNY Mellon chief executive September 27, 2019 Wells Fargo has named BNY Mellon boss Charles Scharf as its new chief executive. Scharf will join the firm in October, making him the lender’s third chief executive since the bank became embroiled in a sales scandal in 2016. Read more: Wells Fargo outperforms estimates as profits climb Scharf, who was chief executive at BNY [...]
Regent’s Crescent: How John Nash’s iconic Georgian terrace is being reborn September 27, 2019 Walk around London’s west end, your eyes skywards, and you’d be hard pressed not to spot the work of John Nash. The architect to the Prince Regent (later George IV) built countless buildings in central London – from Marble Arch, to Clarence House, to All Souls Church on Langham Place. And then there’s Park Crescent. [...]
London house price growth remains below UK city average September 27, 2019 House prices in London edged up 0.2 per cent in August but inflation remained below the UK average growth rate for cities of 1.9 per cent. However, mortgages for home purchases in London have been increasing slowly following the lower numbers seen since late 2014, suggesting that the decline in London housing sales has bottomed [...]
Ex-communication: Pope warns Silicon Valley against ‘barbarous’ AI September 27, 2019 Monks worried about losing their jobs to robots got a new champion today as the pope urged tech giants to ensure they do not lead the world into a new “form of barbarism” when developing artificial intelligence. Francis called for “open and concrete” discussions on the future of technology. Read more: Two thirds of adults [...]
A good property manager is crucial. Here’s what to look for when hiring one September 27, 2019 Whether you are a property investor, a house builder, resident management company, right to manage company or a residents’ association, property management has never been more important. As more and more people choose to rent or buy leasehold, their expectations of the service they receive are getting higher – and rightly so. There are plenty [...]
Suning buys majority stake in Carrefour China for £545m September 27, 2019 French retail giant Carrefour has sold a majority stake in its Chinese business to Suning for €620m (£545m). The Chinese retailer has bought 80 per cent of the firm’s share capital as it attempts to secure growth in online food sales and expand its number of physical stores. Read more: Kingfisher appoints Carrefour exec as [...]