Where next for sterling after the flash crash? October 7, 2016 The flash crash rocked currency markets overnight and has spooked investors this morning. Despite some interesting theories as to its cause, the general consensus is it was a freak event triggered by some hasty algorithmic trading in a relatively dried-up markets. Nevertheless, that hasn't calmed nerves. Before the crash sterling was hovering between $1.25 and [...]
Make the most of the 24-hour Jubilee line with bars and restaurants including Duck and Waffle, Bar Italia and Hawker House… Or just have an office dinner party October 7, 2016 After almost two months of the Night Tube being available on the Central and Victoria lines, tonight is the Jubilee line's turn. The newest line on the London Underground (it launched in 1979), the silver service will now run tubes every 10 minutes between its Stanmore in the west and Stratford in the east. Admittedly, [...]
The Bank of England is investigating the overnight drop in sterling October 7, 2016 Mark Carney has asked the Bank for International Settlements (BIS) to investigate the cause of a sharp fall in the value of the pound in overnight trading in Asia. BIS, often dubbed the central banks for central banks, has global control for the currency markets, though with no hint of wrongdoing, it is unclear exactly how far [...]
Working in this type of office could make you less sleepy and improve your cognitive abilities according to a new Harvard and SUNY study October 7, 2016 If you feel sleepy or your brain feels foggy when you're at work, take solace in the fact that you might not have yourself to blame. A new study from Harvard University has found people who whose offices were located in green certified buildings had 30 per cent fewer "sick building symptoms", which include headaches, nausea, [...]
Imports jump and inflation looms as sterling crashes October 7, 2016 The UK's trade deficit widened in August as the value of imports jumped in the face of the weaker pound. In total, the UK bought £4.7bn more from abroad than it exported over the month, a near-doubling of the deficit from the £2.5bn recorded in July, figures out this morning from the Office for National [...]
Colombian President Juan Manuel Santos wins Nobel Peace Prize for his efforts to end 50-year-long civil war October 7, 2016 Colombia's President Juan Manuel Santos has been awarded the 2016 Nobel Peace Prize for his "resolute efforts to bring the country's more than 50-year-long civil war to an end", the committee announced this morning. Santos was selected by the Norwegian Nobel committee from a closely-guarded list of 376 candidates, comprised of 228 individuals and 148 [...]
Deutsche Bank mulls IPO of asset management unit October 7, 2016 Deutsche Bank is looking to float its asset management unit to replenish its cash buffers following a predicted multi-billion-dollar settlement with the US government over alleged miss-selling of mortgage-backed securities. According to the Financial Times, the German bank is yet to make a final decision on the IPO. It would be a minority stake in the [...]
Sterling smashed in flash crash: Why did it happen? October 7, 2016 Sterling was hit by a freak sell-off overnight as the currency crashed by six per cent seconds after the Asian markets opened for trading. The pound fell from $1.26 to $1.18 almost instantly, before recovering slightly to stand at $1.24 against the dollar. It was the same story against the euro, where the pound sank to [...]
Government mulling crackdown on bingo adverts and promotions during sporting events in gambling industry clampdown October 7, 2016 The government is planning to expand a review of the gambling sector to include a major crackdown on betting industry advertising on daytime TV, according to reports. The Department for Culture, Media and Sports (DCMS) is looking to extend a review of controversial fixed-odds betting terminals to gambling ads in a bid to curb problem betting and [...]
Delays on Bakerloo Line due to person on the tracks at Regents Park October 7, 2016 There are delays on the Bakerloo Line this morning after a woman was struck and killed by a train at Regents Park station. The line was closed between Paddington and Piccadilly Circus earlier, due to a person on the tracks. Service has since resumed but with delays on the entire line. British Transport Police (BTP) were called to [...]