North Korean deputy ambassador to the UK defects with his family to South Korea August 17, 2016 North Korea's deputy ambassador to the UK, Thae Yong Ho, has defected with his family, South Korean officials have confirmed. Yong Ho was a counsellor at the North Korean embassy, which is based in a suburban house in Ealing, and was deputy to the ambassador. The veteran diplomat is thought to be one of the [...]
Uber launches legal challenge over new London taxi rules August 16, 2016 Uber has launched legal action against London's transport regulator over new rules that threaten to limit its business in the capital, City A.M. can exclusively reveal. The billion-dollar startup is seeking a judicial review to halt the introduction of new rules it claims are too strict. Transport for London set out new regulations earlier this year after a [...]
The weaker pound is luring more US tourists to the UK, according to research from Hotels.com August 16, 2016 The fall in Sterling since the EU referendum is enticing more Americans to visit the UK, according to research from Hotels.com. More than four in 10 Americans (42 per cent) said they were more likely to visit for a holiday as the dip in the pound continued to favour the dollar. Sterling has fallen 18 [...]
London has the worst debt crisis in the UK August 16, 2016 Londoners have the most severe debt problems of anybody in the country, according to a leading debt advice charity. StepChange said those living in the capital were more likely to be behind on their monthly payments and typically had higher levels of borrowing than those across the rest of the UK. The findings comes in a [...]
Sharp downturn would spell trouble for nearly one million renters in London August 16, 2016 There's no housing safety net to catch almost one million renters in London should the economy turn sour, a report out today warns. Analysis by Royal London of government’s family resources survey data for 2013-14 – the most recent full set of figures the researchers had available to them – showed 5.5m working adults across [...]
Ex-Barclays trio in bid to appeal their Libor convictions August 15, 2016 Former Barclays bankers Jonathan Mathew, Alex Pabon and Jay Merchant have applied to appeal their convictions for Libor-rigging offences, which were handed down last month. City A.M. can reveal that applications have been lodged on behalf of the three men, who were found guilty of one charge each of conspiracy to defraud on grounds they conspired to [...]
I quit government over Heathrow expansion: This is why I changed my mind August 15, 2016 I resigned as parliamentary private secretary to the minister of state at the Home Office and Treasury in 2009 over government proposals for expansion at Heathrow. The plan was unsympathetic to local residents, it ignored concerns about both environmental and noise pollution, and it didn’t offer enough in the way of increased surface access to [...]
Consumers want regulation – and Uber shows why markets regulate better than the state August 15, 2016 Waiting in the sweltering heat of Washington, DC for 10 minutes for an Uber, I was desperate to get into an air conditioned car. So when one pulled up right in front of me bearing the Uber sticker, my immediate reaction was relief. It was five minutes into the journey, when I glanced at the [...]
No, temperatures in London will not hit 30 degrees this week – but there’s an extra 450m litres of water on standby August 15, 2016 Londoners will avoid sweltering in 30 degree heat this week, the Met office has confirmed – though temperatures will reach a maximum of 28 degrees on Tuesday and Wednesday. The mercury won’t rise above the peak we experienced last month, when the UK basked in the hottest day of the year on 19 July, with [...]
Mayor of London Sadiq Khan boosts police funding by £3.4m to protect Night Tube travellers August 15, 2016 Around 100 extra police officers will be deployed when the Night Tube launches this weekend, as part of a £3.4m boost in security funding for the new 24-hour services. The British Transport Police (BTP) officers will patrol trains and all 51 stations on the Central and Victoria lines on Friday and Saturday night, Transport for London (TfL) [...]