Microsoft overhauls cloud contracts amid EU data privacy crackdown November 18, 2019 Microsoft has unveiled changes to its commercial cloud contracts after EU regulators warned the company may be breaching data privacy laws. The European Data Protection Supervisor (EDPS) last month said it had “serious concerns” about Microsoft’s compliance with data protection rules and the use of its services by EU institutions. Read more: Amazon to appeal [...]
St James’s Place City of London office on sale for £76m November 18, 2019 The owner of the St James’s Place office in the City of London has put the building up for sale for £76.1m. McKay Securities, a real estate investment trust focused on office and industrial property in London and the south east, is looking for buyers for 30 Lombard Street, which is completely let to the [...]
Aviva shares fall as it denies reports it is selling its Singapore and China businesses November 18, 2019 Shares in insurer Aviva fell 4.5 per cent today after it said it was not planning on selling its business in Singapore or exiting its joint venture in China. Aviva made the announcement in response to reports it was mulling a disposal of the two businesses. Read more: Aviva CFO to leave in latest leadership [...]
Jeremy Corbyn ‘investment blitz’ pitch to businesses draws frosty response November 18, 2019 Jeremy Corbyn has said an “investment blitz” would create “immense” opportunities for businesses under a Labour government in a pitch to corporate Britain. Speaking at the CBI’s annual conference in London, Corbyn sought to appeal to firms by saying Labour’s Brexit policy would provide “the certainty of a customs union and access to the single [...]
Gourmet Burger Kitchen widens losses after £16m restructuring hit November 18, 2019 Casual dining chain Gourmet Burger Kitchen (GBK) suffered widening losses last year after taking a £15.7m hit on its restaurant closure programme. The burger restaurant completed a company voluntary arrangement (CVA) during the period, which saw it shutter 24 sites, contributing to a pre-tax loss of £24.3m in the year ended 24 February, compared to [...]
Airbus announces mammoth Middle Eastern jet orders worth more than $30bn November 18, 2019 Airbus has announced orders for more than 170 planes this morning, in a mammoth set of deals valued at more than $30bn at list prices. Air Arabia, a low-cost Emirati carrier has ordered 120 narrow-body planes including the A320neo and A321 XLR models, while Dubai government airline Emirates placed an order for 50 of the [...]
Boeing receives vote of confidence in 737 Max from Turkish airline Sun Express with $1.2bn order November 18, 2019 The annual Dubai air show kicked off this week with billions of pounds-worth of aircraft deals, including a substantial order for 10 Boeing 737 Max jets which remain grounded worldwide after two fatal crashes. Turkish airline Sun Express, which already has 32 of the planes on order, put its faith in the under-fire US manufacturer [...]
Crane drain: Construction on new London offices slows to five-year low November 18, 2019 The number of new construction projects for office blocks in London has fallen by almost half in the last six months, according to data published today. Work has started on only 24 new schemes totalling 1.8m square feet (sq ft) in the capital over the last six months, compared to 37 schemes totalling 3.5m sq [...]
Boris Johnson postpones corporation tax cut November 18, 2019 The Conservatives have shelved plans to cut corporation tax from 19 per cent to 17 per cent. Boris Johnson made the announcement at the CBI conference in London this morning. Read more: Sajid Javid will remain chancellor if Conservatives win the election He said the change had been made to free up funding for the [...]
Airbnb secures deal to provide Olympic accommodation November 18, 2019 Holiday home rental company Airbnb has agreed a deal to become an Olympic partner, in a bid to reduce the cost of the games. Airbnb hosts will provide accommodation for athletes and Olympic officials as well as visiting fans at the Tokyo games next year, followed by Beijing, Paris, Milan and Los Angeles. Read more: [...]