Chairman of BIS select committee unimpressed by evidence given on BHS so far May 23, 2016 As the inquiry into the collapse of BHS continues today, chairman of the Business, Innovation and Skills Select Committee has said he is "not impressed" by the people who have given evidence so far. Iain Wright, Labour chair of the committee looking into the sale and acquisition of BHS, told BBC 5live's Wake up to [...]
London companies lost £16bn in 2015 due to risks within their control – KPMG Enterprise May 23, 2016 Businesses in London lost around £16bn last year due to risks within their control, according to new research out today. Firms suffered particularly from an over-reliance on a small number of suppliers and customers, which left them vulnerable to "costly fractures in their supply chain and a loss of vital revenues", according to KPMG Enterprise. [...]
Barclays tightens buy-to-let properties lending rules May 22, 2016 Barclays is to tighten rules on lending for buy-to-let properties, increasing minimum rental covers. The decision to tighten lending criteria means that rental payment must exceed mortgage costs by a factor of 145 per cent, up from 135 per cent. The affordability rate will also be reduced from 5.79 per cent to 5.50 per cent. The [...]
Dog lovers, look away now: Cat pictures may soon be coming to a Tube near you May 20, 2016 Hot on the tail of the city's emerging cat café culture, Londoners may soon be able to see cats during their daily commute. A cuddly Kickstarter fund aims to replace all the ads at a Tube station with pictures of cats, and it is coming within a whisker of its target. Although it was initially dismissed [...]
The City is irresistible for scores of firms – and we’ll keep doing business regardless of Brexit May 20, 2016 We hear most days how the City will be ruined if Britain votes for Brexit. It is said that there will be flight of capital to Frankfurt, trade will plummet, and international businesses will lose faith in London’s financial predominance. In the last week, Bank of England governor Mark Carney announced that, in the Bank’s view, a [...]
These are the 10 most and least expensive towns in Britain May 20, 2016 Kensington and Chelsea has been named Britain's most expensive neighbourhood, with an average price of £11,321 per square metre. Despite prices dropping one per cent in the last year, the borough’s per square metre average is still five times higher than the national average of £2,216, according to a report by Halifax. Other London areas [...]
London’s iconic black cabs to come clean as Chinese owner raises $400m to electrify taxi fleet May 19, 2016 The Chinese owner of London’s iconic black cab has raised $400m (£273.8m) in a bid to introduce "clean taxis" on London roads. Zhejiang Geely Holding Group Co. secured the funds to electrify black cabs through a green bond sale that is rumoured to have been oversubscribed by eight times. The company intends to use the funds for developing [...]
Half of London women fear sexual harassment on the Tube May 19, 2016 It turns out the Tube can be a scary place. More than half of women in London worry about sexual harassment on public, according to new research – and 23 per cent said they had been victims of groping or other unwanted physical contact. Other Londoners said they had been subject to sexually offensive name [...]
Man arrested after scaling Buckingham Palace walls May 19, 2016 A man has been arrested following a security breach at Buckingham Palace, police have confirmed. The 41-year-old man was arrested in the royal grounds after scaling an outside perimeter wall just after 8:30pm last night. He was not armed and officers did not have to deploy a Taser. He was arrested on suspicion of trespassing on a protected [...]
London tops smarts cities index with Bristol in second place May 19, 2016 London has come out top of the rankings for factors which make a smart city, according to new research. London scored 80.5 for its use of digital technology to improve services, helping it top Huawei's smart cities index. The capital was praised for urban innovations such as the congestion charge and its strong commitment to open data with the London Datastore. [...]