Why “ego appeal” has made office space in London’s skyscrapers the fourth-most expensive in the world September 24, 2014 If you want to rent an office in one of the City's trendy skyscrapers, it's going to cost you. At an average of $2,400 (£1,467) per sq ft, London's high-rise office space is the fourth-most expensive in the world, according to a report published today – just behind Hong Kong, Tokyo and Manhattan. According to [...]
SEC has interviewed Pimco’s Bill Gross over “pricing irregularities” in its exchange-traded funds September 24, 2014 Pimco, the world's largest bond firm, confirmed overnight that the US' Securities and Exchange Commission (SEC) is investigating the way it reports the returns on one of its exchange-traded funds. The SEC has been looking into "irregularities" in the way its $3.6bn (£2.2bn) Pimco Total Return ETF, managed by Pimco's superstar founder Bill Gross, priced [...]
The first 24 hour Tube service will run on 12 September next year September 24, 2014 The first 24-hour London Underground services will run on 12 September next year, Boris Johnson confirmed today. The Night Tube will run six services an hour after 10pm on Fridays and Saturdays on the Jubilee, Victoria, Piccadilly and Central lines, and eight trains an hour on the Northern line "to meet demand at busy stations [...]
Finally, Google stops forcing Google+ on Gmail users September 23, 2014 Could this be the beginning of the end for Google+? After years of forcing Gmail users to sign up to a G+ account, Google has finally stopped the practice – for new Gmail users, at least. Google+, Google's "Facebook killer", was launched in 2011 to lukewarm reviews. Since then, all users have been automatically signed [...]
Ex Pimco chief exec Mohamed El-Erian: “If I’d known about the media circus, I would’ve done things differently” September 23, 2014 Mohamed El-Erian has said he would have treated his departure from Pimco "differently" if he'd known "there would be this media circus". The mega-investor's former chief executive and co-chief investment officer stepped down in January. Until then, he was widely regarded as the heir apparent to Bill Gross, Pimco's co-founder and other co-chief investment officer. In [...]
No more UK house price bubble? Mortgage approvals fall to a 12-month low in August September 23, 2014 This could be the end of the house-buying frenzy of early 2014. New mortgage approvals hit their lowest since September last year in August, figures by the British Banking Association showed today, with just 41,588 new mortgages approved during the month, down from 42,715 in July, and 14.1 per cent lower than January's 76-month high [...]
AA share price rises as financing costs put the brakes on profit September 23, 2014 AA reported its first set of half-yearly results since its initial public offering (IPO) in June, and although profits fell, investors were clearly encouraged by its performance, pushing shares up just over one per cent in early trading. The company said revenues rose 1.6 per cent to £491.7m in the six months to the end [...]
Ratings agency Fitch puts Tesco on negative watch as £2bn is wiped off its value September 22, 2014 It's been a bad day at the office for new Tesco chief executive Dave Lewis. Not only did shares in the supermarket close down 11.6 per cent, wiping £2bn off the supermarket's value, after it admitted it had "overestimated" its profits by £250m – but now ratings agency Fitch has put it on negative watch, [...]
Could it happen in London? One chart showing how Uber has impacted San Francisco’s taxi industry September 22, 2014 Beloved by punters, hated by rivals, taxi service app Uber has a knack of dividing opinion. The company has been the subject of an outright ban in Germany (which was later overturned), a gridlock protest from black cabbies in London and vociferous complaining from local taxi drivers in just about every one of the 45 [...]
Alibaba’s share price slides 3 per cent on second day of trading September 22, 2014 Was Alibaba's IPO too good to be true? Shares in the newly-listed mega-retailer may have surged 38 per cent on their first day of trading on Friday, but investors had clearly calmed down today – its price fell three per cent in early trading. Alibaba listed on the New York Stock Exchange on Friday at [...]
