Chinese economy: Country’s biggest property developer sees shares crash to record low August 14, 2023 Chinese property giant Country Garden’s debt problems deepened after its onshore bonds were suspended, sending its shares plunging 16 per cent to record low on Monday in a fresh blow to policymakers trying shore up confidence in a stuttering economy. Markets remain jittery as the trouble in China’s largest private property developer could have a chilling effect [...]
Vote blue, go green? A climate takeover of the Conservatives is an unlikely feat August 14, 2023 The eco-warriors among the Conservatives are a small but growing number, albeit not fast enough to turnaround an anti-green slant Rishi Sunak has implemented, writes Eliot Wilson.
British Land ‘considering’ offloading some assets to US property giant: reports August 13, 2023 Property developer British Land is considering selling a number of its assets to US real estate group Realty Income, reports say. The potential £300m deal would involve selling a portfolio of six London-based data centres and offices, currently leased to Vodafone, and three shopping centres, according to The Sunday Times. Realty first entered the UK [...]
North and West London faces ‘bus standstill’ as workers vote on strike action August 10, 2023 North and West London’s bus network could grind to a halt this autumn, the Unite Union has warned, as hundreds of workers are to be balloted for strikes in an ongoing dispute over pay. 500 employees French-owned operator RATP in London will vote over the next month on whether to launch a campaign of industrial [...]
Watches of Switzerland: Tourist tax ‘biggest single frustration’ for UK retailers August 10, 2023 The government’s decision to scrap VAT-free shopping for tourists is continuing to hold UK retailers back, Watches of Switzerland has warned. Chief executive of the FTSE 250 luxury watch seller Brian Duffy told City A.M. it was “probably the biggest single frustration” for the British retail sector. “I was in Italy this weekend and the [...]
Central America and South Asia trips see Hostelworld to narrowed losses August 10, 2023 Hostelworld has long been a favourite of travellers looking to rent a cheap bed for the night, but suffered amid sluggish demand after the pandemic.
How Spotify’s $1bn bet on podcasts failed to make any money August 9, 2023 In 2018, Spotify chief executive Daniel Ek announced the company would invest $500m in growing a podcast business. But that spend ballooned to more than $1bn over the next four years as the company licensed shows, bought numerous production studios and signed exclusive podcast deals with the likes of the Obamas and the Sussexes. Ek [...]
Softbank reports mixed quarter as it ‘timidly’ restarts investment August 8, 2023 Japan’s Softbank Group posted a surprise loss but said it was dipping its toes back into new investments after its Vision Fund unit returned to the black for the first time in six quarters. The Vision Fund unit booked an investment gain of about 160 billion yen ($1.1 billion) for the April-June period, helped by [...]
None for the road: Takeaway pints banned as Home Office ends pub pandemic scheme August 7, 2023 Bad news for punters who enjoy a cold pint on the go as the government has decided to put an end to the Covid-19 scheme which allowed pubs to sell takeaway pints. Pubs were allowed to sell alcoholic drinks in plastic cups to customers on the street in 2020, when businesses could not trade normally [...]
From train robberies to ‘Hi Mum’ texts, we are fighting an ever-changing face of fraud August 7, 2023 We've almost all received a "hi mum" message trying to defraud us, but for the victims who fall for the scammers, we must have a safety net, writes Chris Hayward.