Inmarsat signs 10 year deal with Lufthansa to provide in-flight wifi October 20, 2015 Inmarsat, London's very own rocket-launching satellite communications company, has signed a 10 year deal with Lufthansa, Europe's largest airline, to provide high-speed internet across all its European airline fleet. Under the agreement, Inmarsat will connect more than 150 Lufthansa aeroplanes to its Global Xpress (GX) satellite network, the first of which should be ready to [...]
Do you want fries with that? Metrobank opens London’s first drive thru bank October 20, 2015 Metro Bank is bringing a little slice of American life to London, with its first drive-thru bank offering customers cash "from the comfort of their cars." Customers will be able to pay in cash and cheques and withdraw funds at two drive thru windows, staffed by cashiers in a retail park in Southall. The drive-thru [...]
Transport for London development project to provide an extra 10,000 homes across London October 20, 2015 It may be more at home ferrying workers across the capital – but now Transport for London (TfL) has announced plans to build homes, as well. In fact, it reckons it can create 10,000 homes in London. More than 300 acres of land owned by TfL across 75 sites has been put forward for development. The organisation suggests it will create [...]
Britain’s businesses are not rattled by Chinese slowdown, Grant Thornton research shows October 20, 2015 Britain’s businesses are standing firm as world-wide business sentiment takes a hammering from China. UK business confidence over the three months to the end of September towered above the global average of 38 per cent at 67 per cent, down from the peak of 79 per cent in the previous quarter when businesses were buoyed [...]
London’s digital economy could be worth £48.5bn – Oxford Economics and Virgin Media Business October 20, 2015 London’s businesses could be set to gain £48.5bn over the next two years if they fully harness the digital technologies available. Research from Oxford Economics and Virgin Media Business, seen exclusively by City A.M., shows that by going digital, London’s companies could increase their collective revenue by 3.6 per cent, and create around 171,000 jobs over [...]
Dairy Crest share price rises as CMA approves Muller takeover October 19, 2015 The Competition and Markets Authority (CMA) has cleared the £80m sale of Dairy Crest's dairy operations to Muller UK. The sale was referred to the CMA earlier this year over concerns there would be loss of competition to supply fresh liquid milk in the catchment area of Dairy Crest’s Severnside dairy, especially in the South West and Wales. Muller has [...]
Morgan Stanley profits plunge 42 per cent as it feels the effects of summer stock market chaos October 19, 2015 Morgan Stanley shares opened down 5.6 per cent in pre-market trading as it became the latest Wall Street giant to announce a drop in revenues, down to $7.8bn (£5bn) in the three months to the end of September. Revenues dropped from $8.9bn the year before, and $9.7bn in the previous quarter, while net income fell to $1bn, [...]
Standard & Poor’s downgrades rating on Greek bank Piraeus’ debt October 19, 2015 It's not nice to start the week on a downer, but that's what's happened at Greek bank Piraeus, which has had its debt and credit ratings downgraded to a "D" default rating by Standard & Poor's. Last Thursday the Greek-based bank announced it was offering to exchange around €16.2m (£11.8m) of Tier One debt, €211.2m of Tier [...]
Battle of the banks: did Bank of America, JP Morgan, Citi or Goldman Sachs do better? October 15, 2015 Goldman Sachs, Citigroup and Blackstone, the world's largest alternative asset manager, were the latest Wall Street giants to report their earnings had been hit as the markets have taken a tumble. Blackstone made a first loss for the first time since 2011. While Goldman saw trading revenue fall by a third. "We experienced lower levels [...]
The UK’s small companies are set to raise more than ever to fund growth October 15, 2015 The UK's emerging companies are on track to raise record levels of capital funding this year, with the total for the last nine months at £851m, catching up with the full year total for 2014 of £930m. Over the three months to the end of September, £330m was raised to grow smaller business, up £110m [...]
