World’s most expensive houses suffer growth slowdown as London slump persists October 29, 2018 Prices for the world’s most luxurious houses have slipped to their lowest annual levels in nearly six years, as stricter regulations and growing political uncertainty deter wealthy buyers in a number of cities. Prime property prices across the globe climbed 2.7 per cent in the last 12 months, marking the slowest rate of annual growth in [...]
Lok’nStore profits soar amid rising demand for storage units October 29, 2018 Self-storage manager Lok'nStore posted a surge in pre-tax profits during the last 12 months on the back of rising occupancy growth. Profits before tax rose from £4m to £5.3m in the year to the end of July, marking a 34 per cent rise compared with the previous year. Revenues jumped 6.6 per cent to £17.8m, [...]
Floored: Victoria shares plummet 18 per cent as profit projections slip October 29, 2018 Flooring company group Victoria suffered an 18 per cent drop in its shares this morning after revealing that profit margins would be lower than market expectations. First-half revenue had risen “in a challenging market” by more than three per cent in the six months to the end of September when compared with the same period [...]
British shoppers show signs of ‘more optimism in their outlook’ October 25, 2018 British shoppers are showing signs of cautious optimism in the run-up to Christmas, as low levels of unemployment and rising wages suggest a slight uptick in spending confidence. Just over a quarter of UK retail consumers think they will be better off in the next 12 months, marking an improvement in sentiment compared with last [...]
Competition watchdog hits Heathrow with £1.6m fine October 25, 2018 Heathrow Airport has been slapped with a £1.6m fine over limiting competition for parking prices and infringing competition law. Britain’s competition regulator, the Competition and Markets Authority (CMA), said this afternoon that the airport and the owner of Heathrow T5 Hotel Limited had infringed competition law. The company commented: "The CMA found that the Arora Group [...]
Musk comes good on profit pledge as Tesla rolls into the black October 24, 2018 Elon Musk delivered Wall Street his long-promised pledge of putting Tesla in the black late this evening, with shares soaring more than 12 per cent after the bell as the company produced its largest quarterly profit ever. In one of the most highly anticipated reports of the third-quarter, electric car company trumped expectations after it [...]
Debenhams to reveal huge losses and job cuts in latest sign of retail bloodbath October 24, 2018 The scale of troubles facing beleaguered high street giant Debenhams unfolded this evening, with reports that the department store chain is set to reveal its biggest loss in its 240-year history tomorrow morning. Sky News reported today that Debenhams is set to post statutory annual losses nearing the £500m mark in its statement tomorrow, with plans to [...]
Former UBS trader Adoboli nears deportation as judge denies judicial review October 24, 2018 Hopes that Kweku Adoboli will be spared deportation were fading this evening after the former UBS rogue trader lost a last-ditch legal attempt to stay in the country. The 38-year-old, who was convicted on two counts of fraud in 2012 after his unauthorised trading lost the Swiss banking giant £1.8bn, was denied permission to proceed [...]
Cathay Pacific rocked by data breach hitting as many as 9.4m passengers October 24, 2018 Hong Kong flag carrier Cathay Pacific has become the latest airline to be stung by a vast data breach this afternoon, after admitting that someone gained “unauthorised access” to information of up to 9.4m passengers. Roughly 860,000 passport numbers, about 245,000 Hong Kong identity card numbers, 403 expired credit card numbers and 27 credit card [...]
Khashoggi killing: Saudi Crown Prince Mohammed bin Salman says attack was a ‘heinous crime that cannot be justified’ October 24, 2018 Saudi Crown Prince Mohammed bin Salman has described the murder of journalist Jamal Khashoggi as a "heinous crime that cannot be justified". In a panel discussion revolving around the Kingdom’s vision for the future of the Arab world, the Saudi Crown said this afternoon: “Saudi Arabia will go and implement all necessary rules and investigate [...]
