There was “no reasonable way to continue” at Pimco, says bond king Bill Gross October 9, 2014 Bill Gross left Pimco because there was no “reasonable way to continue there”, the so-called 'bond king' said today. Admitting it was the “most obvious question”, Gross – whose surprise exit has led to a record outflow from the fund he used to manage, while giving Janus Capital's share price a nice little boost [...]
Tiny London flat snapped up for £100,000 October 9, 2014 Here at City A.M. we're big fans of tiny houses. There was the super-skinny north London house which went to auction for £235,000 even though it measured in at just 83 inches wide. Then we learned of a 12ft-wide house being built in south London – which was put up for sale for [...]
Spot the Balls quiz: Who said what at this year’s party conferences? October 9, 2014 As the party conference season comes to an end, we're pretty confident many of the speakers will look back and hope parts of their speeches will be forgotten. Unluckily for them, we were on hand to take down every word. But can you remember who said what? Take our quiz to see whether you are [...]
London Tube strike called off after RMT union makes “substantial progress” October 9, 2014 The 48-hour Tube strike that was due to take place next week has been called off after unions said they had made “substantial progress” in talks. The strike had been scheduled to start at 9pm on Tuesday and run until 8:59pm Thursday evening, and had been called over the threat of around 900 job [...]
Interest rates: Bank of England keeps base rate at 0.5 per cent October 9, 2014 The pound has risen against the dollar today, after the Bank of England confirmed the base rate would stay at 0.5 per cent. The Old Lady of Threadneedle Street threw no surprises into the mix today, with the monetary policy committee (MPC) voting to keep the interest rate where it has been since March 2009. [...]
BAE Systems share price falls after further job cuts announced October 9, 2014 BAE Systems' share price fell after it revealed further job cuts today. The defence giant is cutting up to 440 managerial positions from its Military Air & Information (MAI) business, with the brunt of jobs being lost at its Lancashire base. Its share price had fallen 0.7 per cent after the announcement. The [...]
Royal Mail share price rises as company earmarks £18m for French fine October 9, 2014 Royal Mail has earmarked £18m to pay a fine to French competition authorities, over claims one of its subsidiaries breached antitrust laws. The postal group's subsidiary GLS France is currently being investigated over activities dating back to before 2010. Although the investigation by French competition authority Autorite de la Concurrence is ongoing, Royal [...]
Owner of Lamborghini abandoned on Tower Bridge arrested for harassment October 9, 2014 Anyone missing a Lamborghini? Because one has been parked up on Tower Bridge for nearly 24 hours… People commuting home over Tower Bridge last night – and coming into the City again this morning – were greeted with the unusual sight of a white Lambourghini Countach parked up on the Tower side of the [...]
Everything is not awesome: Lego to drop Shell contract after Greenpeace oil spill video goes viral October 9, 2014 Greenpeace knows the value of social media. So does Lego. And, if it didn't before, now Shell does too. The toy manufacturer has announced it will not renew its multi-million-pound contract with the oil giant, after a parody video using Lego blocks to depict an Arctic oil spill went viral, notching up nearly six [...]
Kurdish protesters march on Downing Street, plan St Pancras demo October 9, 2014 Anti-Islamic State protesters have taken to London's streets yet again, in demonstration against the terrorist group as it attacks Kurdish town Kobani – and the lack of support from Turkey. Protesters have marched on Downing Street and are planning another demonstration outside St Pancras this evening, according to the Facebook page of Soas' Kurdish [...]
