Brent crude oil drops below $51 per barrel for the first time since January August 3, 2015 The price of Brent crude dipped as much as 3.4 per cent in afternoon trading to $50.43 per barrel, its lowest since the January this year, as the commodities crisis continued to weigh on the market. The news drove the rouble down 1.67 per cent against the dollar, to $0.01593. Russia's economy is heavily dependent [...]
Is London fair? Those living in the capital are most worried about wages and housing August 3, 2015 Londoners are vehemently in favour of capping chief executives' salaries, it turns out, after a new poll found 79 per cent of those living in the capital think it's unfair for a chief executive running an organisation that employs those on the minimum wage to be paid more than £500,000 a year. According to the [...]
Transport for London announces the next four Tube lines to be upgraded: Circle Line, District Line, Metropolitan Line and Hammersmith & City Line August 3, 2015 Transport for London (TfL) has announced plans to begin modernisation work on 40 per cent of London's Tube network. Read more: August 2015 Tube strike called off? RMT discusses new offer with transport bosses In a statement today, the body said work will begin later this year on updating the signalling and train control systems on [...]
Most Londoners love taxi apps like Uber and Hailo – but think Black Cabs will still be around in 20 years August 3, 2015 As the war between Black Cabbies and taxi apps rages on, it seems the battle for Londoners' hearts has been won, after a new survey showed 55 per cent of those living in the capital are in favour of Uber and its ilk. The study, by YouGov and communications firm PLMR, found 55 per cent [...]
Greek markets to reopen on Monday July 31, 2015 After a five-week shutdown, the Greek stock market will reopen on Monday, it has been reported. CNBC said Costas Botopoulos, the head of the Hellenic Capital Market Commission, confirmed the Athens Stock Exchange will open on Monday. The exchange has been closed since 29 June, when the government imposed strict capital controls limiting people to [...]
Barclays cuts 150 investment bank jobs July 31, 2015 Barclays is planning to cut around 150 jobs in its investment banking arm, City A.M. understands. The cuts come shortly after chief executive Antony Jenkins was ousted by new chairman John McFarlane, who has earned the nickname "Mack the knife" thanks to his no-holds-barred approach to cutting headcounts. Deputy chairman Sir Mike Rake has also [...]
Russian central bank cuts interest rate, pushing down rouble July 31, 2015 The Russian central bank has cut its benchmark interest rate again, this time by half a percentage point, to 11 per cent. It's the second time in as many months it's cut its interest rate – and that's after it slashed it by two percentage points in January, one percentage point in March and 1.5 [...]
Detractors are wrong: OntheMarket is here to stay July 31, 2015 It has been just six months since the launch of agent-owned, agent-controlled OnTheMarket.com. In this very short period in the history of property portals, we have already made significant in-roads in disrupting the current duopoly of Rightmove and Zoopla Property Group. Read more: OntheMarket will fizzle out before its first birthday Rightmove and Zoopla [...]
Today’s job cuts at Shell and Centrica were about more than just rapidly falling oil prices July 31, 2015 The UK’s offshore oil and gas industry is at a crossroads. Though it has spent over £500bn and employed hundreds of thousands people in high-skilled jobs across the UK to extract the nation’s oil and gas over the last 50 years, it has found itself with a bloated cost base and worrying inefficiency. Job [...]
Transport for London pledges free access to Boris bikes on the last weekend of August July 30, 2015 Today marks exactly five years since Boris Bikes launched, and to celebrate, Transport for London (TfL) says it will offer bike enthusiasts free access to the cycle hire scheme – but for one weekend only: 22-23 August. TfL said the weekend will "allow people to try the scheme for the first time", as well as [...]
