Royal Bank of Canada picks Brookfield’s 100 Bishopsgate for its new UK headquarters November 2, 2015 Royal Bank of Canada (RBC) has signed a pre-let deal with Brookfield Property Partners to move its UK headquarters to the developer’s 100 Bishopsgate tower. The bank, which has been on the hunt for a new head office for a year, will take the first seven floors of the 37-storey tower in the City, equal to [...]
More Volkswagen cars caught in emissions scandal as US warns Porsche and Audi designs are implicated November 2, 2015 The United States Environmental Protection Agency (EPA) issued a second notice of violation of the Clean Air Act to Volkswagen (VW) today, stating that more brands of VW cars were thought to have emissions test defeating devices installed. Cars included in the notice are the diesel versions of the 2015 Porsche Cayenne, and the 2016 [...]
Samsonite luggage-maker unpacks strong third quarter sales November 2, 2015 The world's biggest luggage-maker Samsonite International has posted a jump in third quarter sales thanks to strong demand for its suitcases in all of its regions, despite the strength of the US dollar hitting sales on a reported currency basis. The Hong Kong-listed company said net sales increased by 9.3 per cent to US$623.7m (£403.2m) [...]
Hewlett-Packard’s share price rallies as the company splits in two November 2, 2015 Shares in the two newly spun-out arms of the company formerly known as Hewlett-Packard rose today, after the embattled printer manufacturer split into two. Shares in HP Inc, which includes the company's personal computer and printer businesses, were up 12.5 per cent at $13.78 in lunchtime trading in New York. Meanwhile Hewlett Packard Enterprise – dubbed "the $53bn [...]
Skype founders take on 24-hour delivery market with launch of self-driving robot November 2, 2015 Forget delivery vans or even using your legs to walk to the shops for that matter. The founders of Skype plan to shake-up the grocery delivery market with a fleet of self-driving robots that will be able to drop groceries on your doorstep within 30 minutes. Starship Technologies, founded by Skype’s Ahti Heinla and Janus Friis, has [...]
Franco Manca owner strikes franchise deal to expand burger joint Bukowski November 2, 2015 City restaurateur David Page’s leisure vehicle Fulham Shore has become the latest company to cash in on the “posh burger” craze after striking a deal to expand American-style barbecue joint Bukowski Grill. The Aim-listed company, which snapped up sourdough pizza company Franco Manca earlier this year, said it has entered a franchise agreement with Bukowski’s [...]
Shire Pharmaceuticals agrees to buy Dyax in $5.9bn deal November 2, 2015 Shire has been shopping. The FTSE-listed pharma giant has agreed to buy Dyax, a US biotech company, in a deal worth $5.9bn (£3.81bn). Funding the deal with a $5.6bn loan, Shire expects earnings to be “slightly” hurt by the takeover in the next two years, but come 2018 it’ll all be worth it as the [...]
Visa Inc share price down as it agrees to buy former subsidiary Visa Europe for €21.2bn November 2, 2015 Visa Inc announced this morning it has reached a deal to buy its former subsidiary Visa Europe for as much as €21.2bn (£15bn). The consolidation of Visa Europe's 500 million card accounts, worth more than €1.5 trillion, will create a single global payments company. The upfront payment comprises of €11.5bn in cash and €5bn-worth of preferred stock (which pays fixed dividends, taking [...]
City PM Awards 2015: Celebrating the best of the business world November 2, 2015 It has been a memorable year for the City, with milestones seemingly being met every week. In the last few months alone we’ve reported on some impressive trends and grounds for celebration. Financial services are powering a jobs boom, with employment in the City at an all time high. London’s tech sector has attracted record amounts [...]
Quindell share price falls as shareholders get £415m payout after deal with Slater & Gordon November 2, 2015 Quindell shareholders haven’t had a lot to smile about recently, but today the troubled insurance claims processor announced they would be rewarded with a £415m payout. The company, currently under investigation by the Serious Fraud Office (SFO) for its “aggressive” accounting practices, has had legal claims brought against it by a group believed to be [...]
