Glencore share price rebounds in late trading – after it plunges 30 per cent in Hong Kong September 29, 2015 Shares in embattled commodities miner and trader Glencore closed up 17 per cent to 80.25p per share today after extending gains just before the close. Glencore shares soared around 19 per cent to 81.53p this afternoon, following an assurance from the company that it's "financially and operationally robust". Earlier today Nigel Wilson, chief executive of Legal [...]
Jeremy Corbyn attacks big business as he says “no” to “hedge fund tax breaks” September 29, 2015 Jeremy Corbyn used his first conference speech as Labour leader today to attack the Conservative government and the money manager donors that support them. Telling conference delegates that they "don't have to accept what [they are] given", Corbyn said that Prime Minister David Cameron and the Conservatives are "paid for by the few" and only [...]
EU’s new Mifid II rules shake up bond and commodity markets in bid for more transparency: Here’s everything you need to know September 29, 2015 Europe's long-awaited capital market reforms were announced yesterday, with changes to bond markets, caps on anonymous share trading (so-called 'dark pools') and limits on commodity holdings. The European Securities and Markets Authority (ESMA) released its 1,500 page update to the Markets in Financial Instruments Directive (Mifid II), with 28 new rules, which institutions must comply [...]
The City’s most dangerous streets for cyclists – and three other things we know about the dangers of cycling in London September 29, 2015 Cycling may be one of the UK's fastest-growing modes of transport – but pedal power comes with its risks: a map by Transport for London throws into stark relief how frequently cyclists are injured, allowing users to zoom into their local area to find out where cycling blackspots are. But what about the City's cyclists? [...]
Spanish inflation takes a dive as it falls to -1.2 per cent September 29, 2015 In a world where deflation is becoming the norm, it was hardly expected that today's Spanish inflation figure would do much to shore up locals' optimism – but the figure has managed to surprise even the most pessimistic of analysts. The country's figure for EU harmonised consumer price inflation dipped to -1.2 per cent in [...]
Canary Wharf takes over from Tech City and Silicon Roundabout as London’s hottest Fintech spot September 28, 2015 Much has been made of Silicon Roundabout and Tech City's abilities to crank out tech "unicorns" – but there's a new neighbourhood in techland, and it's muscled in on the areas' fintech sectors. Yep – according to property giant CBRE, Canary Wharf is the new epicentre of London fintech, with 13 of the capital's 140 [...]
John McDonnell at the Labour Party Conference 2015: Here’s what businesses think September 28, 2015 Newly-appointed John McDonnell made his conference debut as shadow chancellor today – and despite promises of a "stultifyingly boring" speech, it actually turned out to be pretty punchy, with attacks on big business and buy-to-let landlords, as well as a hint that the Bank of England's mandate might be up for discussion. But what did business [...]
John McDonnell at the Labour Party Conference 2015: Balance the budget by going after Google, Starbucks, Amazon and Vodafone September 28, 2015 The newly-appointed shadow chancellor of the exchequer John McDonnell used his first major conference speech today as Jeremy Corbyn's right-hand man to attack the government's austerity plan and go after big companies like Starbucks, Google, Amazon and Vodafone. Calling the Conservatives the party of the "one per cent", McDonnell said austerity was "not an [...]
Is this the UK’s most expensive digs? £21,000-a-month student apartment launches in Mayfair September 28, 2015 We all knew going to university was more expensive these days, but this is ridiculous: a developer has launched a set of exclusive student digs in Mayfair, with the top-priced apartment going for £5,250 per week – or £21,000 a month. Developed by Criterion Capital, the six apartments in Fountain House, on Park Lane in [...]
Volkswagen drama: From the discovery of emissions cheating to Martin Winterkorn’s resignation, here’s everything that’s happened so far September 28, 2015 It's one of the surprising stories in modern business: Volkswagen, an emblem of lean, mean, efficient German manufacturing, has been rocked it after it emerged millions of its behicles contained software that allowed them to "cheat" emissions tests. The scandal has led to the recall of millions of cars, the resignation of its chief executive [...]
