Northern Rock to repay £261m: Thousands of customers to receive over £6,000 each December 10, 2014 The remains of Northern Rock have been ordered to pay back £261m in interest and fees to borrowers, due to badly worded paperwork, the High Court decided yesterday. Northern Rock Asset Management (NRAM) is owned by the government, which nationalised the Newcastle-based lender when it collapsed in 2007. As a result, the bill for compensation [...]
FCA chiefs Martin Wheatley and David Lawton cling on despite damning Davis report on insurance market fiasco December 10, 2014 City watchdog Martin Wheatley came in for criticism yesterday as the £3.8m Davis report on the regulator’s handling of media briefings was released to the public. The Financial Conduct Authority’s (FCA) chief executive will forgo his bonus for 2013-14 as a result of the findings, as will David Lawton, director of markets, Zitah McMillan, director [...]
Canadian pension fund Ivanhoe Cambridge buys Deloitte’s London HQ Stonecutter Court for £112m December 8, 2014 Canada's second-largest pension fund has bought Deloitte’s City offices from Hines Global Reit for £112m as it looks to step up its exposure to the London office property market. Ivanhoe Cambridge, the real estate arm of Canada’s Caisse de depot et placement du Quebec, said yesterday it has bought Stonecutter Court near Holborn. [...]
Uber takes fresh hit after Dutch court bans UberPop taxi app December 8, 2014 Taxi app company Uber took a fresh hit today after a court in the Netherlands ruled that the San Francisco startup's UberPop service is now banned because of licensing issues. The Trade and Industry Appeals Tribunal in The Hague decided UberPop drivers could be whacked with fines of €10,000 (£7,800) if they violate the rule, [...]
Uber driver held in India over rape allegations after woman reports assault in Delhi December 7, 2014 Controversial ride hire service Uber was back in the spotlight yesterday after Indian police arrested an Uber cab driver suspected of raping a female passenger and said they would take legal action against Uber for failing to run background checks on him. Police opened an investigation after a 26-year-old woman reported that she had been [...]
Worldview calls for Petroceltic chief exec Brian O’Cathain to go December 7, 2014 Capital management firm Worldview has announced it is suing Petroceltic International for breach of corporate governance. Worldview, which is the biggest shareholder in Petroceltic, said yesterday that it had issued legal proceedings against the company in the High Court in London last week. However, a spokesman for Petroceltic said the company had not received [...]
The Royal Palm in Mauritius: The best resort hotel in the Indian Ocean is back with a bang December 7, 2014 The Royal Palm, haunt of former French presidents François Mitterrand and Jacques Chirac, has just undergone a £10m refurbishment. It was already the best hotel in Mauritius and, in the words of Spinal Tap, it has just turned it up to eleven, upgrading to become the only six star hotel in Mauritius. The Royal Palm [...]
Crossrail: These amazing pictures show what is going on under your feet at Liverpool Street, Bond Street, Tottenham Court Road, Whitechapel and Paddington December 5, 2014 From above ground Crossrail is little more than an annoying eyesore you have to navigate around. But as with the Wombles, it's so much better underground, and here are the pictures to prove it. Crossrail under Bond Street Crossrail has today revealed these amazing pictures to show how far through the project it [...]
The small job perks that can boost engagement December 4, 2014 Visitors to Dropbox’s office in the China Basin district of San Francisco are likely to be handed two things on entry: a name badge and a Razor scooter. Whizzing through the corridors of the 85,000 square foot space, they’ll come across a gym, tuck shops, a sprinkling of juice and coffee stations, a music room [...]
North can keep shale tax receipts December 3, 2014 COMMUNITIES in the north of England will hold on to tax receipts generated by shale gas exploration in their region, the chancellor announced yesterday. George Osborne announced a long-term investment fund for regions affected by shale work as part of his plans for a northern powerhouse, to ensure “the shale gas resources of the north [...]