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The 10 biggest business stories on Friday December 11
The 10 biggest business stories on Friday December 11
(about 9 hours later)
1. The government delayed on Thursday the politically-charged decision on where to build a new airport runway, prompting angry business leaders to accuse David Cameron's government of putting short-term politics over the long-term national interest.
1. The government delayed on Thursday the politically-charged decision on where to build a new airport runway, prompting angry business leaders to accuse David Cameron's government of putting short-term politics over the long-term national interest.
2. The Crown Estate is sitting on over £800million worth of empty properties in London alone, a City A.M. investigation has revealed, exposing the scale of the developer’s property footprint in the capital.
2. The Crown Estate is sitting on over £800million worth of empty properties in London alone, a City A.M. investigation has revealed, exposing the scale of the developer’s property footprint in the capital.
3. Morgan Stanley has agreed to pay $225 million to settle claims that it sold toxic mortgage-backed securities to credit unions that later failed, the National Credit Union Administration said on Thursday.
3. Morgan Stanley has agreed to pay $225 million to settle claims that it sold toxic mortgage-backed securities to credit unions that later failed, the National Credit Union Administration said on Thursday.
4. China is getting a $300 million loan from the Asian Development Bank to help clean up its smog-choked capital.
4. China is getting a $300 million loan from the Asian Development Bank to help clean up its smog-choked capital.
5. Lloyds has won a court battle that means it can avoid paying about £1 billion ($1.5 billion) in interest to bondholders, including thousands of smaller investors who helped to fund its bailout during the financial crisis, The Times reports.
5. Lloyds has won a court battle that means it can avoid paying about £1 billion ($1.5 billion) in interest to bondholders, including thousands of smaller investors who helped to fund its bailout during the financial crisis, The Times reports.
6. Morrisons has cut the price of unleaded petrol to below £1 a litre, the lowest UK price level, excluding special promotions, since 2009.
6. Morrisons has cut the price of unleaded petrol to below £1 a litre, the lowest UK price level, excluding special promotions, since 2009.
7. Yahoo CEO Marissa Meyer has announced she’s given birth to two twin girls. Mayer wrote in September that she would not be taking much time off after the birth of her children.
7. Yahoo CEO Marissa Meyer has announced she’s given birth to two twin girls. Mayer wrote in September that she would not be taking much time off after the birth of her children.
8. The Chinese billionaire known as “China’s Warren Buffet” chairman of Fosun International , Guo Guangchang is “unreachrable” according to Chinese finance magazine Caixin. Guangchang is chairman of Fosum Internationl which controls the French holiday group Club Med. Shares of two Fosun Group units were suspended.
8. The Chinese billionaire known as “China’s Warren Buffet” chairman of Fosun International , Guo Guangchang is “unreachrable” according to Chinese finance magazine Caixin. Guangchang is chairman of Fosum Internationl which controls the French holiday group Club Med. Shares of two Fosun Group units were suspended.
Federal Reserve Bank Chair Janet Yellen holds a news conference where she announced that the Fed will raise its benchmark interest rate for the first time since 2008 at the bank's Wilson Conference Center December 16, 2015 in Washington, DC.
Chip Somodevilla/Getty Images
Profits at the Italian luxury goods group Prada fell 38 per cent in the quarter to 31 October, hit by slumping sales in China. Europe and Japan were the only two areas that saw modest growth for the fashion house, whose 2016 lines were modeled at the Milan Fashion Week. But a strong dollar held back travelers headed to the United States.
TIZIANA FABI/AFP/Getty Images
A man in a space suit watches a television with school children at the Science Museum ahead of the launch of space mission Principia in London.
European Space Agency Astronaut Tim Peake is the first publicly funded Briton in Space.
The value of the space sector in the UK has grown from £6.5 billion in 2007 to £11.8 billion in 2014. It currently employs nearly 35,000 skilled workers, with current government ambitions for the sector to grow to £40 billion by 2030 and a further 100,000 jobs.
Ben Pruchnie/Getty Images
Commission President Jean-Claude Juncker jokes with a Member of the European Parliament ahead of a debate on the future of the Economic and Monetary Union at the European Parliament in Strasbourg, France, December 15, 2015
REUTERS/Vincent Kessler
A robot arm, developed by Nachi Robotic Systems was on show at the International Robot Exhibition in Tokyo on Wednesday December 3. The Bank of England recently published research that 15 million UK jobs could be at risk of automation in the coming decades.
REUTERS/Thomas Peter
Elizabeth Holmes is the only woman that has made it on the Forbes magazine “America’s richest entrepreneurs under 40” list. Elizabeth Holmes who founded the blood-testing company Theranos came sixth with $4.5 billion (£2.9 billion). Facebook’s Mark Zuckerberg topped the ranking with $47.1 billion.
Kimberly White/Getty Images for Breakthrough Prize
Peppa set out to hog the market - The film and TV distribution company Entertainment One said it was on course to double merchandise sales for the pre-school favourite Peppa Pig to $2bn (£1.3bn) by 2020. Sales of Peppa toys will begin in China next year, following the launch of the TV show there. E1's underlying annual profits climbed by 42 per cent to £52m, on sales up 2 per cent at £337m.
Rob Stothard/Getty Images)
The Eiffel Tower illuminated with the French national colors in tribute to the victims of the November 13, 2015 Paris terror attacks. Tourism and travel stocks fell on Monday in the wake of Friday’s jihadist attacks in Paris – as a leading European policymaker warned that the killings could compound the region’s economic woes.
AFP PHOTO / BERTRAND GUAY
A model holds a 12.03-carat blue diamond during a press preview by auction house Sotheby's in Geneva on November 4, 2015. A 12.03-carat blue diamond could fetch a record $55 million (47 million Euros) when it goes under the hammer by Sotheby's on November 11 in Geneva. Categorised as a fancy vivid blue diamond, the Blue Moon, discovered in South Africa in January last year, is the largest cushion-shaped stone in that category to ever appear at auction
FABRICE COFFRINI/AFP/Getty Images
Burberry shares were down 12 per cent after it missed forecasts for sales in the first half of 2015 as Chinese customers cut back on luxury goods.
Polaroid's owner C&A is suing Go Pro over its Hero4 Session camera, claiming the ice-cube shaped device is a rip-off of the Polariod Cube camera and infringes its patent. Shares in Go Pro, which denied the announcement, fell to an all-time low.
Alamy
In the aftermath of the Volkswagen emissions scandal BMW shares have fallen by more than 5 per cent after claims one of its models exceeded European emissions limits by more than 11 times.
DPA/Getty Images
The coffee chain will provide an interest-free loan to pay a rental deposit that should be repaid within 12 months
Reed Hastings, founder and CEO of Netflix has said that companies greatly underestimate the importance of reference checks when hiring
YouTube/Screen shot/KPCB
VW CEO Martin Winterkorn ousted over diesel emissions that could cause thousands of premature deaths
Groupon has cut 10% of its workforce and closed its operations in 7 countries. When it went public in 2011 it was valued at $12.8bn
2011 Getty Images
Britain's Chancellor George Osborne has urged closer business ties with China when he visited Shanghai, the country's commercial hub, on Tuesday. He declared that the UK and China will "stick together", despite stock market turmoil and faltering economic growth in the world's second-largest economy.
Getty
Manchester United's absence from the Champions League hurt more than the fans' pride last year - it also dented the bottom line. Revenues at the New Uork listed club dipped 8.8 per cent to £395.2m in the year to June, triggering a £1.2 million loss after broadcasting and sponsorship deals dried up. The club said it was now looking to raise $400m from a share issue.
2015 Manchester United FC
Production of the next Star Wars movie has brought an economic impact of some £150 million to Britain, according to company accounts. The seventh movie in the series, The Force Awakens, will be released in December.
The Net-a-Porter founder Natalie Massenet decided to quit the online fashion retailer during "a summer of reflection" that included a spectacular 50th birthday party on the Almalfi coast.
Copyright (c) 2015 Rex Features. No use without permission.
The chief executive of Yahoo, Marissa Mayer, said that she was expecting twin girls in December. She said she would "approach the pregnancy and delivery the same way as I did with my son three years ago, taking limited time away and working throughout". In 2012, she took two weeks off when her first child was born.
2014 Getty Images
Warren Buffett, the world’s third richest person, lost $3.6bn in last week’s market slump
Getty
9. London startup Swiftkey has launched "Symbols" to help people with non-verbal autism communicate.
9. London startup Swiftkey has launched "Symbols" to help people with non-verbal autism communicate.
10. A 1956 red Ferrari fetches a record $28.05 million at Sotheby’s auction in New York, at $14.3 million a 1962 Aston Martin sets a record for a British car while Janis Joplin’s 1964 Porsche fetches $1.76million.
10. A 1956 red Ferrari fetches a record $28.05 million at Sotheby’s auction in New York, at $14.3 million a 1962 Aston Martin sets a record for a British car while Janis Joplin’s 1964 Porsche fetches $1.76million.
