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World - London housing crisis coming to a crunch

Latest figures show the average London house price was £514,097 ($740,400, 678,500 euros) in December, up 12.4 percent in 12 months, compared to a 6.4-percent increase to £188,270 across England and Wales. Many `generation rent` young professionals, whose parents bought comfortable homes in their early 20s, have given up on their dream of ever affording a property in London. At University College London, more than 150 students have gone on a rent strike.

Sunday, February 14, 2016  04:21


World - Ex-JP Morgan banker fined $1.1bn over `London Whale` scandal

Britain`s financial watchdog on Tuesday fined a former JP Morgan executive for failing to disclose concerns about the so-called `London Whale` affair that cost the bank $6.2 billion. Achilles Macris, ex-boss of the bank`s international chief investment office in London, was fined £792,900 ($1.1 million, 1.0 million euros), the Financial Conduct Authority (FCA) said in a statement. Macris `was responsible for a number of portfolios, including the Synthetic Credit Portfolio, at the time of what became known as the London Whale trades,` the FCA said.

Tuesday, February 09, 2016  17:08


World - Sliding oil prices sends UK deficit to record high

Britain`s trade deficit reached a record high last year as the value of North Sea oil exports tumbled. Total exports fell 2.8 percent, as sliding oil prices hit income earned from sales abroad of North Sea crude. Meanwhile exports of goods to the rest of the European Union fell by £11.6 billion, owing to a `fall in oil exports of £9.8 billion`, the ONS said.

Tuesday, February 09, 2016  15:06


World - Drugs giant GSK fined £37m over `pay-for-delay` deals

Britain`s competition watchdog on Friday fined drugmaker GlaxoSmithKline £37.6 million ($54.5, 48.1 million euros) for entering into deals which delayed generic cheaper versions of its anti-depressant Seroxat. The Competition and Markets Authority (CMA) said in a statement that GSK colluded from 2001 to 2004 with potential suppliers of a generic version of Seroxat, paying them a total of £50 million to delay production of cheaper versions. The watchdog added that GSK`s so-called `pay for delay` deals had resulted in higher costs for the state-run National Health Service.

Friday, February 12, 2016  14:48


World - Liverpool owners scrap ticket hike, apologise to fans

Liverpool`s owners on Wednesday apologised and scrapped controversial plans to hike Anfield ticket prices after 10,000 fans walked out of the ground in protest at the weekend. Principal owner John W Henry and chairman Tom Werner acted after legions of angry Reds fans stormed out of the ground in the 77th minute of Saturday`s home game against Sunderland. The timing reflected the £77 ($112, 99 euros) being asked for the most expensive ticket at Anfield next season.

Wednesday, February 10, 2016  19:53


World - Premier League fans `plot mass walkout over ticket prices`

Football fans in England are considering a mass walkout in protest at rising Premier League ticket prices, the Daily Telegraph reported on Tuesday. An estimated 10,000 Liverpool supporters left Anfield in the 77th minute of Saturday`s 2-2 draw with Sunderland in protest over plans to introduce a most expensive match ticket of £77 ($112, 99 euros). The Football Supporters Federation (FSF), which represents fans in England and Wales, said it would convene a meeting to discuss coordinated action, including a simultaneous fan walkout at top-flight fixtures.

Tuesday, February 09, 2016  13:37


Technology - Paul McCartney creates Skype emojis

Sir Paul McCartney has composed music for a series of `audio emojis` on Skype

Thursday, February 11, 2016  16:42


World - Manchester United set £500 million revenue target

London (AFP) - Manchester United expect to make more than £500 million ($719.5 million, 635.2 million euros) in the 2016 financial year, the club announced on Thursday, despite continued underperformance on the pitch.

Thursday, February 11, 2016  13:59

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