Europe’s development banks lured into new Canary Wharf HQ May 1, 2019 Canary Wharf landed a major financial tenant today, as Europe’s development bank shifted its new HQ to the business district in a post-Brexit commitment to the capital. The European Bank for Reconstruction and Development (EBRD) is set to take more than 360,000 square feet (sq ft) at 1-5 Bank Street, moving its headquarters from Exchange [...]
Workspace giant IWG posts double-digit growth as international demand swells May 1, 2019 The world’s largest serviced offices group posted a double-digit rise in revenue this morning amid growing international appetite for its workspace brands. Read more: IWG shares surge after £320m Japanese franchise deal IWG, the firm which owns Regus and Spaces, revealed a 10 per cent rise in its first-quarter revenue today, rising in line with [...]
Trivago profits rise amid revamp of advertising spend May 1, 2019 Hotel booking site Trivago has posted a sharp increase in profitability in its first-quarter results amid a revamp of its marketing strategy. Read more: Two-thirds of hotel websites leak guests’ personal data The figures Trivago posted net profit of €7.8m (£6.7m) in the three months to the end of March, compared to a net loss [...]
Not so lucky: Google’s share price falls eight per cent after disappointing results April 30, 2019 Shares in Google’s parent company Alphabet fell more than eight per cent in early trading in the US today after its results for the first quarter disappointed last night. Revenue rose 16.7 per cent to $36.3bn (£27.8bn) for the three ended 31 March, its slowest pace in three years, missing analyst estimates of $37.3bn according [...]
Use your local post office or lose it to the long list of high street casualties April 30, 2019 Owning and operating a post office couldn’t be any harder. The ongoing high street decline and the difficult retail environment over the past 12 months have hit subpostmasters hard, and it has never been tougher to make ends meet. We recently conducted a national survey of our membership, and found that more than one in five [...]
Labour policies will represent ‘revolution’ for UK economy says John McDonnell April 29, 2019 Shadow chancellor John McDonnell said Labour will unleash an economic “revolution” if it wins power. The Labour MP for Hayes and Harlington, who has previously named Soviet revolutionaries Lenin and Trotsky as key intellectual influences, told the BBC he saw parallels with 1979 when Margaret Thatcher swept to power. "Things aren't working for people, so they're [...]
Financial Conduct Authority dawn raids nearly doubled in 2018 April 29, 2019 The number of dawn raids conducted by the Financial Conduct Authority (FCA) has almost doubled over the past year, from 13 in 2017 to 25 in 2018. Financial services regulatory consultancy Fscom said one of the drivers of the jump in raids was likely to be an FCA crackdown on unregulated investments. Read more: London [...]
Amazon smashes profit predictions on soaring cloud services demand April 26, 2019 E-commerce giant Amazon reported a significant jump in profit tonight to soar past average analyst expectations, in addition to matching estimates on revenue. The company’s net income for the first three months of 2019 more than doubled year-on-year to reach a record $3.6bn (£2.8bn), or $7.09 per share, compared to the average estimate of $4.72. [...]
Microsoft’s valuation passes $1 trillion as competition with Apple and Amazon heats up April 25, 2019 Microsoft’s valuation briefly exceeded $1 trillion (£776bn) for the first time yesterday after the firm posted strong revenue and profit growth in its quarterly results. Shares in the US tech behemoth rose as high as $130.87 in late trading, taking its market capitalisation past rivals Apple and Amazon and beyond the coveted $1 trillion mark. [...]
Fieldfisher merges with Irish firm McDowell Purcell in Brexit-related expansion April 25, 2019 City law firm Fieldfisher has struck a merger deal with Irish firm McDowell Purcell as it looks to secure a route into the EU market post-Brexit. The deal gives Fieldfisher a Dublin office and 16 new partners and 50 lawyers. A string of UK and US law firms have established Dublin bases following the 2016 [...]