SSE abandons takeover of rival energy provider Npower as government price cap takes its toll December 17, 2018 A planned merger between SSE and Innogy's Npower will no longer be going ahead, after the two gas and electricity firms were unable to reach an agreement on "revised commercial terms". SSE announced this morning that its board has decided the merger is "not in the best interests of customers, employees or stakeholders" following further discussions with [...]
Tube driver salaries break £100,000 barrier despite train automation December 16, 2018 Some London Tube drivers are now earning more than £100,000 a year, despite new technology that makes their jobs easier. Figures obtained by the Sunday Times reveal the highest-paid driver earned £103,374 in the year to November, a 69 per cent rise since 2012. The surge in pay comes despite five of the network’s 11 lines [...]
Restaurants and pubs will be the “future of the high street” in London December 16, 2018 Pubs and restaurants could be the “future of the high street” in London, according to industry experts, as new figures revealed a healthy growth in like-for-like sales throughout the sector last month. Sales grew by 2.3 per cent in London pubs and restaurants in November against the same month last year, statistics published by the [...]
Billionaire Mike Ashley and The Entertainer may bid for iconic toy store Hamleys December 14, 2018 Sports Direct owner Mike Ashley and British toy retailer The Entertainer are among the bidders interested in a takeover of Hamleys, according to a report. The world's biggest toy shop has been owned by Chinese fashion conglomerate C.banner since 2015, but Sky News reported this morning that bids are now being considered for an acquisition [...]
Time Out Market to open in former Eurostar terminal in London Waterloo station December 14, 2018 Time Out Group has revealed plans to open a new market in London's Waterloo station. Time Out Market London will have restaurants, bars and “cultural experiences” hand picked by the British media company from across the capital. Occupying 32,500 square feet over two floors in the former Eurostar terminal, the market is expected to open in 2021. It [...]
Confronting the Robots December 13, 2018 Professor Peter Fleming, formerly of Cass Business School, wrote an article for Demos Quarterly which argued that the age of automation is unlikely to lead to a utopian world of play, but doesn't necessarily mean a proliferation of rubbish jobs. You can read the article in full here. Dr Simone Stumpf, Senior Lecturer in the Department of [...]
‘Non-sexy’ is the new cool: UK fintech predictions for 2019 December 13, 2018 Despite the continued uncertainties of Brexit, 2018 was another year for the UK’s fintech sector. Record levels of investment poured into the community, with $16bn secured in the first six months of 2018, exceeding the value of investment in US fintech by almost $2bn. In addition, progressive regulation and a thriving financial services sector attracted [...]
Network Rail offers to wrap commuters’ Christmas presents at London stations December 12, 2018 Network Rail is offering a free gift wrapping service to commuters at London train stations this Christmas. The service, which Network Rail has dubbed “Wrapland”, is available from a pop-up stall at London Bridge until tomorrow and then at King's Cross from 17 to 19 December. The stall has been set up to encourage commuters to purchase presents from shops [...]
Nearly 300,000 homes could be built in Greater London above rail tracks, says new research December 11, 2018 Untapped space above London’s railways tracks could pave the way for as many as 280,000 new homes, according to new data that comes amid growing calls to tackle the capital’s housing shortage woes. Almost 2,500 hectares of land on top of Greater London’s train, overground and Tube lines could be freed up, a report by [...]
Crossrail crisis: Businesses react to £1.4bn bailout and further delay December 11, 2018 The crisis facing Crossrail deepened yesterday as Transport for London (TfL) confirmed that the delayed project could need up to £2bn in extra funding to keep afloat. Crossrail chief executive Mark Wild also admitted that the railway, which had already been delayed from December 2018 to autumn 2019, may not open until 2020. While the [...]