City watchdog wants to impose stricter rules on spreadbetters December 6, 2016 The financial watchdog has revealed plans for stricter rules for firms selling "contract for difference" (CFD) products such as spread bets to retail customers. The Financial Conduct Authority said CFDs like spread bets and rolling spot foreign exchange products are complex financial instruments offered by investment firms, often through online platforms, to customers who may not really know [...]
Tottenham Court Road station has been closed due to a power failure December 5, 2016 Services on the Central and Northern Lines are disrupted this afternoon, after Tottenham Court Road was closed due to a power failure. https://twitter.com/centralline/status/805793171288498177 https://twitter.com/northernline/status/805793168256073730 Meanwhile, there are delays on the Circle Line due to an "absence of staff", according to Transport for London. https://twitter.com/circleline/status/805795047933353984 Elsewhere, the Piccadilly Line is still experiencing severe delays – which are [...]
Gold is now an accepted Sharia investment under new Islamic banking rules December 5, 2016 Gold can now be used as a commodity to back Sharia-based financial products, with rules about using the metal as an investment set out for the first time. The World Gold Council announced the new Sharia gold standard, which sets out the way in which financial institutions can apply Sharia principles in the direct physical handling [...]
London transport disruption: TfL admits Piccadilly Line delays will likely go on until after Christmas as drivers blame new wheels for problems December 5, 2016 Piccadilly Line commuters could be facing delays and disruption until after Christmas, Transport for London confirmed today. Problems began on the line at the end of November, when around half the Piccadilly Line fleet was taken out of service for repairs, due to damage caused by larger-than-usual quantities of wet leaves on the tracks. A [...]
Homes in Islington have been evacuated due to flooding on Upper Street December 5, 2016 Around 100 people have been evacuated from their homes in Islington this morning, after a burst water main led to flooding on Upper Street. London Fire Brigade said firefighters were dealing with the flood between City Road and Islington Green in north London. Six fire engines and three fire rescue units have been deployed. The water is [...]
Royal Bank of Scotland reaches £800m settlement deal with three shareholder groups December 5, 2016 Royal Bank of Scotland has reached a settlement with three out of five shareholder groups involved in claims relating to a rights issue the bank carried out during the financial crisis. RBS said today that it has concluded a "full and final" settlement with three of the groups, representing around 77 per cent of the [...]
Fortnum & Mason announces record results with sales and profit up December 5, 2016 Luxury retailer Fortnum & Mason has announced record sales and profit growth of more than 25 per cent for the third year in a row, and revealed that it has increased trading with domestic UK brands over the past 12 months. The iconic British brand reported profits of £6.2m, up 27 per cent compared to [...]
US non-farm payroll: US adds 178,000 jobs in November as wages rise and unemployment falls December 2, 2016 US non-farm payroll data has shown that the US added 178,000 jobs in the month that saw Donald Trump win the Presidential election. Market experts had been expecting an increase of 165,000 in November, slightly above the 161,000 reported for October. Unemployment dropped to 4.6 per cent and wages were up 2.5 per cent. The jobs [...]
Uber is expanding its UberPool area just in time for Christmas December 2, 2016 Uber is more than doubling the area in London where its car-sharing option UberPool is available. From 4pm today, the service will cover all of zone three, including areas such as Streatham, Dulwich, Lewisham, Muswell Hill, Wimbledon and City Airport. The expansion comes one year after UberPool was launched in the capital. Uber's ride-sharing service allows users [...]
Tube delays: What exactly is going on with the Piccadilly Line? December 2, 2016 Commuters using the Piccadilly Line are still experiencing severe delays – and they're set to continue for the foreseeable future. https://twitter.com/piccadillyline/status/804592078017675264 The disruption on the line started a week ago, with Transport for London blaming a shortage of trains. TfL later revealed that the train shortage was caused by the fact that around half the [...]
