This European flying car maker just raised €10m in VC money December 5, 2016 We may live in a world of talking virtual assistants, contactless payments and a world of knowledge in our pockets – but we won't truly be in the future until cars can fly. Pleasingly, though, flying cars came a step closer today, after a German company trying to develop a pint-sized plane raised €10m in [...]
The UK’s services sector grew unexpectedly fast last month – pushing up GDP expectations December 5, 2016 Growth in the UK's three main sectors suggests the economy will 0.5 per cent in the fourth quarter, against Bank of England expectations of 0.4 per cent, new figures have suggested. The purchasing managers' index for the services sector, published today by Markit, grew unexpectedly fast in November, rising to 55.2 from 54.5 last month – [...]
Italian banks fall as Monte dei Paschi’s future hangs in the balance following Matteo Renzi’s resignation December 5, 2016 Most people aren't out of bed yet, but it's already a dramatic morning for Italy's troubled lenders, who are facing more uncertainty following the result of the country's referendum. The FTSE Italia all-share banks index was down 4.3 per cent in early trading in the country after the resignation of Prime Minister Matteo Renzi threatened another setback in [...]
This map of European breweries shows the UK is the drunk hipster of Europe December 2, 2016 Forget the poor man of Europe – the UK is the drunk hipster of Europe, it turns out, after figures showed Britain has more microbreweries than any other country. Yes, figures from The Brewers of Europe showed while Germany brews more beer than any other nation, at 95.6m hectolitres, the UK has more than 1,500 microbreweries. [...]
This London tech entrepreneur has been picked to advise Arnold Schwarzenegger on The Celebrity Apprentice December 2, 2016 A London-based fintech entrepreneur has been picked to join Arnold Schwarzenegger in the boardroom on the US version of Celebrity Apprentice. Gemma Godfrey, the founder of online wealth manager Moola (who also appeared in City A.M.'s Power 100 list earlier this year), will join Arnie' 10-strong panel of advisers alongside Jessica Alba, Warren Buffett and YouTube celebrity Justine [...]
FTSE 100 falls ahead of the Italian referendum – but the pound tries to keep its chin up December 2, 2016 The FTSE 100 slid almost one per cent in morning trading today, as jitters over the outcome of the Italian referendum and the higher oil price conspired against equities. The UK's blue-chip market was down 0.9 per cent at 6,693 points in mid-morning trading, pushed down by minters and oil giants, after oil prices jumped this [...]
A London bus burst into flames in Kingston half-way through the morning commute December 2, 2016 Two fire engines attended after a London bus burst into flames in the centre of Kingston – in the middle of the morning commute. The London Fire Brigade said two fire crews had been called to a bus on fire on the high street just after 9am. "A double decker bus is currently well alight," it said. "The [...]
It’s not all bad: UK construction output grew more than expected in November December 2, 2016 Output in the UK's construction sector grew faster than expected in November, figures published today showed – suggesting things might not be as bad as they seemed in the sector. Markit's purchasing managers' index (PMI) for the construction sector rose to 52.8 in November, above expectations of 52.2 and above October's figure of 52.6. Any figure [...]
Boris Johnson: The UK is not a nation hauling up the drawbridge December 2, 2016 Boris Johnson has signalled the government's intention to ensure Britain remains a powerful force in global politics after Brexit, saying the UK is "not a nation hauling up the drawbridge". In one of his most forward-looking speeches since the Brexit vote, Johnson said Brexit "emphatically does not mean that Britain turns in on itself". "There [...]
Airbnb has introduced a new rule in London which should cut down on “professional” hosts December 1, 2016 Until recently, the sharing economy has been a bit "Wild West" – but all that could be about to change in London, after one of its major players, Airbnb, announced a crackdown on so-called professional hosts. In a statement today the company said it is introducing automated limits on listings to prevent an entire home [...]
