Rocketing oil and gas production masks weak underlying trend in industrial production October 7, 2015 A surge in oil and gas output lifted industrial production to a four-year high in August, figures from the Office for National Statistics showed this morning – but economists have warned the underlying trends are still weak. Total industrial production, which is mostly manufacturing but also includes mining, quarrying and utilities, climbed 1.9 per cent on [...]
German industrial production suffers steep decline in August October 7, 2015 Industrial production in Germany, the Eurozone’s biggest economy, dropped at its fastest pace for a year in August, according to figures released this morning. Total production, which includes construction, manufacturing and mining, dipped 1.2 per cent in August compared with July, German statistical office Destatis said. The production of capital goods fell 2.1 per cent [...]
Resurgence in British office market fuels record profits at Knight Frank October 5, 2015 LONDON’S booming office market combined with a recovery in the regions helped estate agent Knight Frank to post record full-year results. The company, which is owned by its partners and has 370 offices across the world, said profit before tax rose by 19 per cent to £162m in the year to 31 March, while turnover [...]
Chaos on Tube and train network as body found on line near Waterloo East and signal failures cause overcrowding at Bank and London Bridge October 2, 2015 Southeastern was forced to cancel several services into south London this morning after a body was found on the line. The body was found near Waterloo East, and police are now investigating. A spokeswoman for the train operator was unable to give any further details, although she said Southeastern was hoping to have all [...]
Morrisons follows Lidl and pledges to pay above National Living Wage September 29, 2015 Morrisons has followed in the steps of German discounter Lidl after announcing a 20 per cent pay hike for its staff in line with the new Living Wage. The supermarket, which is striving to turn itself around after years of declining sales, said more than 90,000 staff across all age brackets would benefit from a [...]
Care International UK’s Lend With Care loan platform bringing capitalism to the world’s poor September 28, 2015 Most people are familiar with the Lend Lease arrangement between the US and the UK during the Second World War, wherein the US government provided Britain and other allied nations with supplies to support the war effort. Fewer will be aware of the food parcels that US citizens generously sent across the pond to [...]
When is Google’s Birthday? Anniversary Google Doodle celebrates 17 years of tech company on 27 September – here’s four ways it’s changed September 27, 2015 Happy Birthday Google. From search engine to science research and everything in between, in 17 years the company has grown from an office in the dorm rooms of founders Sergey Brin and Larry Page to a multi-billion dollar company that is now a verb in the dictionary. Celebrating the occasion, Google has made a doodle [...]
Who will pay Edward Bramson’s tab for TGI Fridays bid? September 23, 2015 Perhaps Edward Bramson just likes caravan holidays. There are few other obvious reasons why the prominent activist investor is returning for a second bout of City-style pugilism with Electra Private Equity. Electra, the owner of Park Resorts and TGI Fridays, has barely recovered from its bruising (but victorious) encounter with Bramson’s investment vehicle, [...]
Reports: Deutsche Bank cutting 23,000 jobs September 15, 2015 Deutsche Bank is laying off a quarter of its workforce, according to news agency Reuters. Some 23,000 jobs are affected, mostly in the bank’s technology and back office operations and through selling its PostBank unit, sources have said. The layoffs come just three months after new chief executive John Cryan took over the helm of [...]
British Land’s Leadenhall Building Cheesegrater has two new tenants Petredec and Fidelis Insurance September 15, 2015 The City's iconic Cheesegrater has two new tenants, leaving just five floors available at the Leadenhall Building. British Land and Oxford Properties, the developers behind the Cheesegrater (aka Leadenhall Building), today announced that global energy company Petredec and Fidelis Insurance were moving in. Oil and gas company Petredec, which will use the office space for its European [...]