More than 2,000 people evacuated after electrical fire breaks out in Kingsway, Holborn April 1, 2015 More than 2,000 people have been evacuated from offices near Holborn after a cable fire erupted under the pavement on Kingsway. Around 70 firefighters have attended the electrical fire which forced the cancellation of a number of West End shows. Police have declared it "a major incident". Kingsway has been closed at both ends and [...]
City Moves for 31 March 2015 | Who’s switching jobs March 30, 2015 Allianz Global Corporate & Specialty Rishi Baviskar has been appointed cyber risk consultant in Allianz’s corporate and specialty insurance business’s global risk consulting team. He has over 15 years’ experience working in IT for oil, gas, car, and pharmaceutical companies. Financial Reporting Council Jennifer Walmsley has been appointed director of investor engagement at the Financial [...]
Network Rail privatisation to be discussed by government officials in order to shake off debt burden March 29, 2015 Government officials could meet this week to discuss the potential privatisation and restructuring of Network Rail. The self-proclaimed “gateway to Britain’s national rail network” added £34bn to the public debt when it was reclassified as a central government body last September. According to a report in The Sunday Times, which cites company insiders, civil [...]
Startup in London? Here’s how the capital’s funding scene is changing March 27, 2015 The funding landscape for startups in London is changing. It has expanded and diversified, making it easier for early stage companies to raise capital. Yet the benefits vary greatly, depending on the size and type of company. London is fertile ground for startups looking to raise between £50,000 to £150,000. The Seed Enterprise [...]
Salesforce CEO Marc Benioff just promised economic sanctions against Indiana and made a major stand for gay rights after “religious freedom” law passed March 27, 2015 The boss of Salesforce, the software company which almost renamed London’s Heron Tower, has just promised economic sanctions against the US state of Indiana and made a major stand for gay rights. Marc Benioff said the firm will cancel plans to expand in Indiana and could leave the state altogether after lawmakers approved a law [...]
Britons are back in love with borrowing – and it spells big trouble ahead March 22, 2015 There was a decisive shift in consumer behaviour last year, according to our latest Precious Plastic study. Published today, it charts Britons’ borrowing habits and their attitudes to debt. Over the previous five years, amid the post financial crisis recession, Britons retrenched, paying back almost a quarter of their consumer credit. However, once student debt [...]
Jeremy Browne: George Osborne has given up making the case for a smaller state March 19, 2015 George Osborne has given up making the case for a smaller state and conceded ground to the Labour party, according to a former government minister. Speaking at a post-Budget briefing hosted by the Taxpayers' Alliance and the Institute of Economic Affairs, ex-home and foreign office minister Jeremy Browne said Osborne was failing to make the [...]
Budget 2015: A quick guide to all the key measures March 18, 2015 Chancellor delivers good news for savers and first-time buyers as he turns up heat on banks in play for votes ahead of election. UK ECONOMIC OUTLOOK ● The UK was the fastest growing economy in the G7 last year. However, the economy grew by just 0.5 per cent in the final three months of 2014, [...]
Alexis Tsipras defiant despite growing anger on talks March 18, 2015 Greek Prime Minister Alexis Tsipras sent a strong anti-austerity message to the country’s parliament yesterday. However, in a blow to Syriza’s solidarity, the party’s chief economist Yiannis Milios left his post. “People have asked us to put an end to austerity and bailout agreements, to begin the process of reclaiming the dignity of the nation,” [...]
Chancellor bats away Labour’s 1930s claims March 18, 2015 CLAIMS that a Conservative-led government will take state spending back to 1930s levels were shot down yesterday as Osborne announced austerity would end sharply at the end of the next parliament. The claim had been disputed by economists who questioned the calculations and comparisons behind it. Nonetheless, it had been repeatedly made by Labour in [...]