China’s Alibaba begins its countdown to the world’s biggest shopping day of the year – Singles’ Day October 20, 2016 Chinese e-commerce giant Alibaba has started the countdown to its shopping festival Singles’ Day, the world’s biggest sales event of the year. The retailer has promised consumers a bonanza of pop stars, fashion shows, and virtual reality to whip them into a spending frenzy. The annual celebration of being single – now in to its [...]
Open offer and £70m share placing whips up a storm for Hurricane Energy October 20, 2016 Hurricane Energy today announced it has conditionally fundraised £70m in a share placing to help develop its drilling operations in the North Sea. The UK-based oil and gas company has proposed an issue of almost 206m placing shares at a cost of 34p per share with existing and other institutional investors. The group will also raise [...]
JP Morgan and Morgan Stanley call for transition period to protect banks post-Brexit October 20, 2016 Two senior staffers of major investment banks have today called on the UK to secure a transition period for industry post-Brexit. Speaking at a British Bankers' Association conference, Sir Win Bischoff, chairman of JP Morgan Securities, remarked it would be "advantageous to have a transition period beyond the two-year period" the UK would have before it [...]
London’s fanatical cyclists from hell are taking crazy risks with pedestrians’ lives October 20, 2016 Every morning on my walk into the City, I see the brand-new cycle path along the side of Blackfriars Road being put to good use. But every morning, I also see some of you cyclists riding on the pavement next to it, weaving among pedestrians. The special lane made for you, carved out (at significant [...]
City of London chiefs have published new proposals for a London visa system October 20, 2016 The City of London has published plans for a new scheme to allow square mile businesses to recruit talented workers in the aftermath of Brexit. In a report published with PWC, the City has offered two models for future systems which would allow for regional systems, as long as live in the region in which [...]
North Greenwich reopens after suspect package is blown up in controlled explosion – Met’s Counter Terrorism Command leading investigation October 20, 2016 North Greenwich Tube station has reopened hours after a suspicious item was found on board an eastbound Jubilee Line train. Nearby Canary Wharf station has been very busy as a result of the closure – Tower Hamlets police were advising passengers to opt for other nearby stations if possible. Canary Wharf VVV busy due to North Greenwich closure. [...]
The lengths people will go to for a Nickelback concert at the 02… October 20, 2016 Fans of American rock band Nickelback had been anxiously waiting to find out if tonight's concert at the O2 would go ahead, after a controlled explosion was carried out at the nearby North Greenwich Tube station. A suspicious package was found on board an eastbound Jubilee train this morning, but following discussions with the police, [...]
American Airlines’ share price loses altitude after empty seats and higher labour costs weigh on profits October 20, 2016 The world's largest airline by revenue, American Airlines, has posted a 56 per cent drop in profit for its third quarter, but managed to beat analyst expectations. Shares took a hit however, falling some three per cent in New York after the announcement. The numbers AA's profit dropped out of the sky over the year, falling to $737m (£601m), [...]
London travel disruption: Delays to and from London Bridge until 8pm October 20, 2016 Trains to and from London Bridge are being delayed until 8pm, according to National Rail. A vehicle struck a bridge near the station and examiners were on site assessing the bridge. Delays of up to 20 minutes were initially expected from Southeastern services to and from the station, though an update from the train operator said [...]
Middle East bond market on for record-breaking year after Saudi $17.5bn deal October 20, 2016 The middle eastern bond market boom has captured the attention of investors around the world, according to one of the leading players behind Saudi Arabia’s record-breaking $17.5bn debt sale. Jean-Marc Mercier, global co-head of debt capital markets at HSBC who met over 300 potential investors as part of the Saudi deal, told City A.M. the [...]