London Sports Festival moves from 3×3 basketball success to pickleball at the City of London Corporation’s Guildhall Yard
Ford’s investing £157m in a new technology centre in India November 8, 2016 Ford's investing 13bn rupees (£157m) in a new technology and business centre in India over the next five years. The car giant said the development, in the Indian city of Chennai, was to develop new products, design mobility solutions and provide business services. In a statement, Ford said it will create 3,000 jobs while 9,000 people [...]
Property of the Week: Penthouse designed by Stirling Prize winning architects is “the jewel in the crown” of Millbank development November 8, 2016 A penthouse that’s nestled in between Vauxhall Bridge and Tate Britain went on sale on this week, with a guide price of £25m. The duplex is sits at the apex of a curvy riverside building that’s been designed by architectural firm Stanton Williams, which won the RIBA Stirling Prize in 2012 for its Sainsbury Laboratory. [...]
Nicola Sturgeon has confirmed the Scottish government will intervene in the appeal over Article 50 case November 8, 2016 This is getting interesting. The Scottish government is now attempting to intervene in the UK government's appeal to the Supreme Court over the triggering of Article 50. The High Court ruled last week that MPs must vote on whether the UK can start the process of leaving the EU and the government confirmed it would [...]
Tesla is ramping up production by buying a German company November 8, 2016 Tesla has taken action to address its production problems (too much demand. not enough supply), snapping up a German manufacturer to help it build its electric cars. Grohmann Engineering will help it hit a target of producing 500,000 cars a year by 2018, Elon Musk's company said today, and it will become Tesla Grohmann Automation. Read [...]
Tesco Bank fraud attack “unprecedented”, says City watchdog chief November 8, 2016 The head of the City watchdog has today called the attack which has hit thousands of Tesco Bank customers over the weekend "unprecedented and serious". Andrew Bailey was speaking in front of the influential Treasury Select Committee, where he acknowledged there was a shortage of talented tech staff within the banking sector and that the complexity of lenders' [...]
Toyota profits driven off track by strong yen but it lifts full-year forecast after cost-cutting November 8, 2016 Toyota looks to have set its sights on long-range electric cars for 2020, and in its latest results, the car firm dropped a heavy hint that's the direction it's going in. But first, it needs to fend off a strong yen that's impacting profit. The figures For the July-September period operating profit fell 43 per cent to [...]
American Apparel UK business goes into administration November 8, 2016 Americal Apparel's UK business has gone into administration. Jim Tucker and Richard Beard of KPMG were appointed joint administrators of American Apparel (UK) Ltd and American Apparel (Carnaby) Ltd this morning, the accountancy firm said in a statement. American Apparel (UK) and American Apparel (Carnaby) run the UK retail and wholesale operations of the US [...]
Valeant shares slump as full-year guidance is slashed and losses mount November 8, 2016 Shares in Valeant – the embattled Canadian pharma giant that has struggled under problems with its business model and a high profile accounting scandal this year – have slumped in the pre-market. Valeant revealed this morning a big loss for the third quarter and cut its full year sales and earnings guidance – despite things looking up when it [...]
Costly coal and lower US steel prices leave ArcelorMittal braced for weak fourth quarter November 8, 2016 The world's largest steelmaker, ArcelorMittal, has warned low US steel prices and a recent rally in the price of coal will weigh on its profits in the fourth quarter. The figures Earnings before interest, tax, depreciation and amortisation (Ebitda) rose 40 per cent to $1.9bn (£1.5bn) at the global steelmaker in the quarter ended 30 September. However, [...]
MPs grill City watchdog chief as Tesco Bank and RBS fallout rocks the sector November 8, 2016 Talk about bad timing: The City watchdog boss has today faced a grilling from the influential Treasury Select Committee as the banking industry is still reeling from a hectic few days. Andrew Bailey, chief executive of the Financial Conduct Authority, appeared before the MPs as customers at challenger Tesco Bank await to hear how bad the weekend's [...]