UK construction activity falls to its lowest in five months November 4, 2014 Activity in the UK's construction industry fell to its lowest level in five months during October, figures out this morning showed. Markit's purchasing managers' index (PMI) for construction, which measures activity in the sector, fell to 61.4 in October, down from 64.2 in September. Any number above 50 denotes growth in activity, so the industry [...]
Virgin Money confirms it will IPO by the end of November November 4, 2014 Challenger bank Virgin Money has confirmed it will go ahead with its flotation plans after it put its IPO off last month. In a statement to the stock market today, the bank said it expected to list on the London Stock Exchange by the end of November. Previously it has said it aims to raise [...]
The Stump is dead: Here’s everything we know about The Pinnacle, London’s next skyline-altering tower November 3, 2014 So the Pinnacle, the London skyscraper that never was, looks like it might finally be built. The tower, on Bishopsgate in the City of London, was nicknamed "the Helter Skelter" because of its twisty design at the top, but met an undignified fate when its developer, Brookfield Multiplex, was forced to abandon work on it [...]
Taylor Swift pulls all her music off Spotify November 3, 2014 More in-fighting between artists and Spotify: Taylor Swift, the singer as much known for reaping revenge on a series of exes as hits such as Love Story and (ironically) Stay, Stay, Stay, has turned her wrathful eye to the music streaming service, pulling all her music off it. Spotify announced her departure on its blog [...]
Virgin America’s IPO could value it at $1bn November 3, 2014 Here's a welcome bit of good publicity for one of Richard Branson's businesses. Virgin America, the seven-year-old airline which specialises in internal flights between cities in the US (and some Latin American countries), could be valued at $1bn (£625m) if its IPO goes to plan. New documents filed with the US Securities and Exchange Commission [...]
Check out Transport for London’s snazzy new uniforms for tube staff, designed by Wayne Hemingway November 3, 2014 Transport for London (TfL) has updated uniform for London Underground staff. They're pretty snazzy. The uniforms, designed by Wayne Hemingway, are the first update in a decade – and are also the first time there has been a uniform "specially tailored" for female staff. Hemingway said the experience had "challenged us all". The "various mix [...]
Pound rises as UK manufacturing bounces back November 3, 2014 Having fallen for the past three months, activity in the UK’s manufacturing sector picked up unexpectedly in October, taking analysts by surprise. Markit’s purchasing managers’ index for manufacturing jumped to 53.2 last month, figures out this morning showed. Any reading above 50 denotes expansion in the sector, although in September it fell to [...]
Betfair share price rises as bad luck boosts revenues November 3, 2014 A punt on Betfair paid off this morning, after shares rose 2.98 per cent to £12.46 in early trading on strong second-quarter results. The company said revenues rose 22 per cent to £119m in the three months to the end of October, driven by "favourable sporting results" – an upsurge in punters making losing bets [...]
Former Tory treasurer Michael Spencer sells City Index to Gain Capital for £74m October 31, 2014 Former Tory treasurer and Icap founder Michael Spencer has sold his online spread betting business to US rival Gain Capital for $118m (£74m), in a deal that will create a company with 235,000 customers in more than 180 countries, with annual trading volumes of more than $3tn. Spencer sold the business, owned by his private [...]
Spanish government puts off Aena IPO until at least next year October 31, 2014 The heavily-trailed flotation of the world's largest airport operator has been postponed until at least the early part of next year, a source close to the deal has confirmed. Spanish government-owned Aena, which owns 46 airports including Luton, Madrid Cuartro-Vientos and Barcelona-El Prat, had been due to list 49 per cent of its shares on November [...]
