London’s the best place in the world for fostering fintech as industry eyes new success measures September 27, 2016 London is the best city in the world for fostering fintech, ahead of New York, Silicon Valley and Hong Kong – but it faces a run for its money from Singapore – as the industry pushes for better measures for assessing its contribution to the economy and the government's new industrial strategy. The two cities were ranked highest based [...]
Dubai loves an engineering challenge and the new Burj Al Arab sea terrace is up there with the biggest September 26, 2016 As engineering feats go, one that is half the weight of the Eiffel Tower and slightly larger than the size of a football pitch is pretty significant. Add the fact that the brief was to create an ultra-luxe, environmentally sensitive terrace extension to the 7-star hotel Burj Al Arab, whilst it remained open, and you [...]
Deliverwho? Sainsbury’s is bringing back the bicycle delivery service it first started in 1915 September 26, 2016 Sainsbury's is trialling a bicycle delivery service in London that promises to get groceries to customers within one hour – a service it first started in 1915. The retailer is starting the trial from Wednesday in various parts of west London, from Westminster to Wimbledon. Cyclists peddling food for tech startup Deliveroo have become a common sight [...]
BHS to target younger customers as it makes a comeback in the UK September 26, 2016 You may have thought BHS had shut up shop for good but now a Qatari group wants to rebuild its fortunes in the UK by targeting younger customers. The British brand – but not its shops – was acquired by The Al Mana Group back in June, along with BHS.com and BHS' international business. Since [...]
People still trust brick-and-mortar branches more than digital banks September 26, 2016 Digital banking has surged in popularity over the last few years, but research out today also shows many still won't trust a lender without a brick-and-mortar presence. Just less than half (48 per cent) of UK banking customers would not be comfortable sorting out their finances solely online or by mobile, while a third (33 [...]
Business groups write to communities secretary Sajid Javid to campaign against changes to business rates September 25, 2016 Groups representing retailers and small businesses have come together to write to communities secretary Sajid Javid to urge him to pull back on changes to business rates. Business rates are being re-evaluated, and changes proposed for the way business rates are valued could "sink individual businesses into hardship", the lobby groups warned. Read more: West End gets [...]
Economists are expecting more positive data on consumer confidence this week as shoppers shrug off the Brexit vote September 25, 2016 Consumers' worries about the economic impact of the Brexit vote are fading, as economists are expecting positive data on sentiment to be released this week. Confidence in the UK economy slumped immediately after the EU referendum, but now economists are expecting an uptick. Read more: West End gets Brexit boost as sales to tip over [...]
BHS is back September 25, 2016 The British high street stalwart BHS is back, as new investors emerge with a refreshed online incarnation of the retailer which spectacularly slid into administration earlier this year. BHS will return with a new website, BHS.com, after Qatari business group Al Mana Group snapped up BHS' 70 overseas stores and the website in June. Read more: Insolvency Service quizzed Chappell consultants over £1 BHS purchase It's now [...]
A dramatic new plan has emerged to save British steelworkers’ pensions almost exactly three months after the end of a government consultation September 22, 2016 A radical new plan has emerged to save the British Steel Pension Scheme (BSPS), as Tata and unions officials work to remove obstacles to a potential sale of UK steelworks including Port Talbot. India's Tata has been locked in talks with Germany's Thyssenkrupp over a potential joint venture since July, but UK sites including the [...]
Before the bell: What you need to know before the US market open September 22, 2016 A divided Federal Reserve has voted to leave interest rates on hold, queuing up a hike before the end of 2016 and markets couldn't be happier. Here's what you need to know before the US market open at 2:30pm London time. Markets climbed yesterday following the Fed announcement and Janet Yellen's frank press conference. The S&P is [...]