The definitive ranking of the cities where bankers are paid the most (spoiler: London isn’t at the top) April 11, 2016 Looking for a payrise? You could do much worse than moving to New York, according to new findings, which showed bankers in the big apple earn almost as much from their salary alone as those in London do from their salary and bonus combined. Salary benchmarking site Emolument.com compared the salaries of bankers at analyst and [...]
Trying to sell your house? A third of homes in some London boroughs have cut their asking prices April 11, 2016 Another sign London's housing market might have hit its peak – after new research suggested sellers of as many as a third of homes in some parts of the capital cut asking prices. The research, by property analysis firm Propcision, found sellers in Kensington and Chelsea were the worst-hit, with asking prices on a third [...]
Marriott and Starwood share prices rise as shareholders approve $12.4bn takeover – bringing the creation of the world’s largest hotel chain one step closer April 8, 2016 Shareholders have approved the $12.4bn (£8.8bn) takeover of Starwood Hotels by Marriott International – meaning the creation of the world's largest hotel chain has just come a step closer. In joint statement today, the pair said shareholders of both companies had approved the merger – with 97 per cent of Marriott shareholders and 95 per [...]
Best. Job. Ever: Lastminute.com founder Martha Lane Fox joins the board of Twitter April 8, 2016 When you think about it, it's an obvious choice: this afternoon it emerged Martha Lane Fox, one of the UK's best-known entrepreneurs, is joining the board of Twitter – and she's already pretty keen. Yep: as she announced it in a tweet, the Lastminute.com founder Lane Fox – also known as Baroness Lane Fox of Soho – added [...]
Don’t dismiss regulation outright: New measures can be a lifeline for gambling addicts April 8, 2016 The gambling industry has had a hard time lately, with profits suffering with tightening legislation and a number of high profile criticisms from campaigners and the distressed public. But despite the sector's problems, it is fair to say gambling is on the rise – and the traditional British pastime is becoming a life changing addiction [...]
Another sign London’s ultra-high-end homes are losing their sparkle, as One Hyde Park designer Candy & Candy falls into a loss April 8, 2016 When the first homes were sold in 2012, its gleaming towers became the centre of a storm of criticism: now the interior designer behind controversial uber-prime residential development One Hyde Park have slumped into a loss. Figures filed with Companies House yesterday show interior designer Candy & Candy, which designed the communal areas and many of the apartments [...]
The European Commission just refunded Societe Generale’s €218.6m of its Euribor rigging fine April 8, 2016 We're used to banks paying out multi-million pound fines for their various misdeeds when it comes to Libor/Euribor/FX rigging – but now one French bank has had a reprieve. Societe Generale said this morning that the European Commission had decided to refund €218.17m (£175.81m) of its €445.88m Euribor-rigging fine. Former employees of the bank, as [...]
Universities: EU students contribute millions of pounds a year to London’s economy April 8, 2016 Thought there was anyone left who hadn't waded into the Brexit debate? Think again: this morning universities joined the fray, pointing out that students from EU countries contribute millions of pounds a year to London's economy. Universities UK, essentially a trade body for UK colleges, said EU students at London's universities generated £788m for the [...]
Oh, he does like to be beside the seaside: Luke Johnson has just bought Brighton Pier for £18m April 8, 2016 He may be best known as the former owner of Pizza Express, but it seems Luke Johnson is more of a scream-if-you-want-to-go-faster man now: he's just splashed out (see what we did there?) on the company behind Brighton Pier. This morning Johnson's company, Aim-listed Eclectic Bar Group, said it had entered into an agreement with the [...]
This Chinese boss gave 10 employees Maseratis, then took them on the drive of their lives April 7, 2016 Thought an away-day to the local paintballing centre was exciting? Try working with Chinese boss Ni Hai Shan, who presented 10 of his employees with £98,000 Maseratis as their year-end bonus – then took them on a mad journey along China's "highway of death". The People's Daily Online reported that 29-year-old Hai Shan, whose family business [...]
