Bank of England financial crisis files: Crash pushed regulators to the brink January 6, 2015 The Bank of England was pushed close to breaking point during the financial crisis, according to previously unseen documents published today, with staff exhausted and bosses struggling to keep up with the pace of events. Officials repeatedly underestimated the scale of the crash, hoping the steps taken to address each problem – such as the [...]
FTSE 100 slips on weak British economic data – London Report January 6, 2015 UK SHARES fell for a third-consecutive session yesterday, and the pound traded lower against the dollar, as weaker-than-expected economic data weighed on British assets. The blue chip FTSE 100 fell 0.8 per cent, or 50.65 points, to 6,366.51, bringing its three-day loss total to three per cent. The index fell two per cent on Monday, its [...]
Uber suspends UberPop taxi app service in Spain after court injunction December 31, 2014 Taxi app company Uber has suspended its UberPop service in Spain after a court ruling banning the ride-sharing app was confirmed. UberPop is a ridesharing service and platform connecting private car owners with passengers who also have the option to split the fare. UberPop mirrors UberX in the US. Uber has been operating in Spain [...]
The most expensive homes in the world: Where are they and who owns them? London tops the chart December 29, 2014 London’s Buckingham Palace is more than just the home of Britain's queen – it’s also the most expensive home in the world, with a price tag of $1.55bn (although it’s not for sale). But this isn’t the only home with an exceptionally high value – across the world, billionaires have either been buying up the properties [...]
How much of an effect did the North Korea DDoS attack actually have? Here’s what we know about internet access in the country December 23, 2014 Reports of a massive, nine-and-a-half hour internet outage after a distributed denial of service (DDoS) attack in North Korea – possibly by the US, possibly in revenge for the Sony hack – have raised eyebrows. The country famously censors its internet to the point of uselessness. So just how much of an effect did [...]
Billionaire property baron Thomas Kwok sentenced to five years in prison for corruption December 23, 2014 Hong Kong billionaire and property tycoon Thomas Kwok has been jailed for five years and fined £41,327 after being found guilty of corruption. Kwok, 63, has also been barred from taking a company directorship for five years. Once the co-chairman of the city's largest developer and second-most valuable property company in the world, Sun Kung [...]
Earls Court exhibition centre demolished: Is London losing too much of its heritage? December 22, 2014 It has played host to chocolate & confectionary fairs, royal tournaments, Victoria’s Secret fashion shows and hundreds of performers, including Pink Floyd, Queen, Madonna and Oasis. But this month marks the end of an era for the Earls Court Exhibition Centre, after contractors began dismantling the 1930s Art Deco building to make way for one [...]
From Quindell and Gotham City to Uber and the LDTA – five of the biggest business battles to watch out for in 2015 December 22, 2014 Rival camps have banded together, the lines are drawn, battle armour is on and adrenaline is running high. All that's left for spectators to do is grab some popcorn and watch from the ringside. From rival estate agents, to a business targeted by a Batman styled US fund and an influx of tiny new banks [...]
Man once known as “Putin’s banker” loses £1.3bn battle in UK high court December 19, 2014 Vladimir Putin's former "banker" has lost a $2bn (£1.3bn) legal battle in the UK courts. The man in question is Sergei Pugachev, a former Russian senator. Pugachev had sought to overturn a UK court order issued in July this year that froze his global assets due to a $2bn claim made against a collapsed bank he [...]
Arsenal can pile pressure back on Brendan Rodgers December 18, 2014 BEN CLEMINSON LOOKS AT THE BIG GAMES IN THE PREMIER LEAGUE THIS WEEKEND LIVERPOOL’s 3-1 win over Bournemouth on Wednesday night was only their third in their last 11 games. Welcome as that victory over the Championship leaders was, it doesn’t even begin to mask what has been a terrible campaign so far for last [...]