Uber launches in Hong Kong as global expansion gathers pace July 17, 2014 Uber launched its service in Hong Kong yesterday, as the mobile app for hailing private hire cars continued its fast global expansion to cover 150 cities in 41 countries. The official launch in Hong Kong comes after a successful four-week trial period, and follows the recent launch of its Beijing service. Uber is now available [...]
Heron Tower won’t become Salesforce Tower – at least not yet July 17, 2014 The City of London has decided to delay a controversial vote over whether to grant the Heron Tower permission to rename itself after its biggest tenant Salesforce, in a new twist to the saga. The City's planning and transportation committee said that the decision would be reviewed at a special meeting in August after members [...]
Boards win day despite investor revolts July 16, 2014 Three major UK companies suffered significant shareholder revolts yesterday on a busy day for annual general meetings – and, inevitably, the City grandee Sir John Peace was at the centre of one of the dramas. Peace, who has been at the centre of two shareholder battles already this year, found himself under fire again after nearly [...]
Heathrow City in pictures: Designs for airport redevelopment include new homes and tech hub July 16, 2014 Heathrow airport could be replaced by 190,000 new homes, a factory or swathes of parkland, according to plans revealed by architects. London mayor Boris Johnson is especially keen on the plans to develop a "Heathrow City", given his backing for a new airport in the Thames estuary. The designs were backed by Johnson and commissioned by [...]
City Matters: Why the frustrating rejection of Smithfield redevelopment helps no one July 14, 2014 In 2018, the first Crossrail trains will come roaring in to Farringdon Station and commuters will spill out along its 200m platform. Some of them will be working in the new office buildings going up on Farringdon Street, as the railway helps revitalise the area. None will be working in the new Smithfield Quarter building [...]
The sharing economy and VCs: A marriage made through money July 13, 2014 Hitchhiking once meant a compassionate driver picking up a rain-sodden stranger for nothing more than heartfelt gratitude. Today, its modern equivalent is “ridesharing”. Drivers now list journeys on their smartphones and sell seats in advance to offset the cost of petrol. Passengers book a seat online just like booking a train ticket, except that [...]
Focus On… Wimbledon: A game of two halves July 10, 2014 AS THE Championships drew to a close last week, it wasn’t just Novak Djokovic who was counting his prize money. Savvier residents in the leafy, south west London suburb who rented their property out for the fortnight also earned themselves a tidy profit, according to estate agents Hamptons International. “Many home owners choose to let [...]
Where will London’s newest Thames bridge be? Nine Elms bridge to be built July 9, 2014 Wandsworth Council is set to launch a global competition to find a design for a new £40m bridge in west London. The planned bridge will span the water at one of five possible locations, all linking Nine Elms to Pimlico. The pedestrianised crossing will also provide a quiet route for cyclists, and is likely to [...]
As politicians pledge to end the economy’s focus on London, is this counterproductive? July 8, 2014 Baroness Jo Valentine, chief executive of London First, says Yes. The problem with much of the discussion around this topic is that it assumes the capital’s success is to the detriment of other cities. London is enormously influential in putting the UK on the world stage, due to its position as a leading global hub for [...]
Network Rail fined £53.1m for trains running late July 7, 2014 Network Rail has been handed a record £53.1m fine for missing punctuality targets, the industry regulator reported today. In its assessment of the company that runs Britain's tracks, the Office of Rail Regulation (ORR) criticised Network Rail for falling "significantly short" of the funded 92 per cent average punctuality targets, achieving just 87 per cent. [...]