Boris Johnson promises ultrafast 5G mobile data in London by 2020 July 28, 2014 Tomorrow Mayor of London Boris Johnson, will promise that London will be one of the first cities in the world to offer the next generation of ultrafast mobile connectivity (known as 5G) by 2020. Johnson’s pledge comes as part of his London Infrastructure Plan 2050, which will set out the infrastructure requirements for the [...]
BP’s Iain Conn in talks to take Centrica top job July 24, 2014 CENTRICA finally confirmed yesterday that it was in talks with BP’s Iain Conn over the possibility of him taking over the top role from Sam Laidlaw. Oil major BP announced yesterday afternoon that Conn was stepping down by the end of the year after almost three decades at the company, prompting a statement from the [...]
Super subs key to German World Cup victory, says Schweinsteiger July 14, 2014 GERMANY’S World Cup final man of the match Bastian Schweinsteiger believes extraordinary squad depth was the deciding factor in their successful bid for a fourth triumph. Two substitutes in Andre Schurrle and Mario Gotze combined to fashion the extra-time winner against Argentina on Sunday, while stellar talents such as Julian Draxler did not get off [...]
Exports and investment hike US growth estimate for end of 2013 March 28, 2014 THE US economy grew at a slightly faster pace than previously suggested at the end of 2013, rising at a 2.6 per cent annualised rate in the fourth quarter, instead of the 2.4 per cent previously expected. The rate is down from the third quarter’s 4.1 per cent, but exports grew by 9.5 per cent [...]
January’s drop in US housing sales is nothing to worry about February 21, 2014 US home sales dropped 5.1 per cent to 4.62m in January. Forecasts had been for a fall, although to a more encouraging 4.68m, following December’s 4.87m. Annualised, they fell to a 462,000 rate, the National Association of Realtors said. Weakness in housing activity has been put down, almost wholly, to the unseasonably bad weather the [...]
Remember Osborne’s global race? We are in danger of losing it January 20, 2014 WITHOUT foreign investment, we would be toast. How many of you, dear readers, work for UK subsidiaries of foreign companies? Or for a business that relies significantly on overseas investors for its debt or equity financing? In the case of the latter at least, the list now includes almost every company listed on the London [...]
Sheffield home to Cable’s new business bank December 1, 2013 THE NEW British Business Bank is to be set up in Sheffield, according to a government announcement today, as business secretary Vince Cable pledges another £250m for the project. The increase in funding means that the state-backed bank, which is meant to help small businesses access finance, will begin with £1.25bn. Spokespeople from the Department [...]
Feeble lending still haunts euro area economies November 28, 2013 LENDING to the private sector is still declining in the euro area, with the European Central Bank (ECB) confirming an even deeper collapse yesterday. In the year to October, lending fell 2.1 per cent, the steepest drop this year. Loans to household were practically stagnant, up by 0.1 per cent in the same period. The [...]
Vodafone set to spend £150m on London network November 11, 2013 VODAFONE is expected to announce a boost to its mobile network in London tomorrow with details of a massive £150m investment to double its 3G capacity and reduce the number of dropped calls in the capital. Alongside its first-half results, the firm will announce details of its so-called Project Metropolis, a plan to increase the [...]
Co-op overhaul gives hedge funds control of smaller bank November 4, 2013 CO-OPERATIVE bank bosses yesterday said they had faith that the US hedge funds that now own much of its stock will not destroy the firm’s ethical principles, as they unveiled drastic plans to shrink the lender. The bank, which has been scrambling to fill a £1.5bn black hole, unveiled a radical restructure yesterday to close [...]