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☆ 'We had no choice': Two best friends bought and renovated a crumbling Victorian house together because it's nearly impossible to buy one alone
▼ + stars: | 2023-07-07 | by ( Lauren Crosmedlicott | ) www.businessinsider.com time to read: +8 min

Olamide Soyemi and Cullen FarleighThey were surprised in September 2019 to hear from a specialist mortgage advisor that they could secure a £500,000 mortgage. "When we started freelancing as ad creatives, we had a dream to transition into making our own content," Soyemi said. Olamide Soyemi and Cullen FarleighA few weeks later, a bit of the kitchen floor felt spongy. "It's the nightmare thing to have in your house," Farleigh said. Olamide Soyemi and Cullen Farleigh"This house has become more than just a possible asset — more than just a house," Soyemi said.

Persons: —, Olamide Soyemi, Cullen Farleigh, Cullen Farleigh Soyemi, Farleigh, Soyemi, Dad Poor, Elizabeth, lockdowns, Cullen, They're, dabble, It's Organizations: Service, Farleigh Locations: London, Soyemi, Farleigh, Central London, East London, Victoria

☆ "We had no choice": Two best friends bought and renovated a crumbling Victorian house together because it's nearly impossible to buy one alone
▼ + stars: | 2023-07-07 | by ( Lauren Crosmedlicott | ) www.businessinsider.com time to read: +8 min

LONDON, July 3 (Reuters Breakingviews) - Canary Wharf may be in trouble once again. While CWG’s average tenancy agreement still has 10 years left, the risk is that itself and the wider Canary Wharf area slip into a vicious circle. Rental incomes on apartments are roughly on a par with offices, per square foot, according to a person familiar with the matter. The 45-storey skyscraper in Canary Wharf has been HSBC's home for more than 20 years. Canary Wharf Group, which runs the east London financial district, declined to comment.

Persons: Paul Reichmann’s Olympia, Morgan Stanley, CWG, Knight Frank, Hong Kong’s Cheung, Bear Stearns, that’s, Liam Proud, Pranav Kiran Organizations: Reuters, Docklands, HSBC, York, Saudi Arabian, Canary Wharf Group, Barclays, Estates, Brookfield Property Partners, Qatar Investment Authority, Brookfield, Canary, QIA, Moody’s, Reuters Graphics Reuters, Hong Kong’s Cheung Kei Group, Churchill, NYK, Transport, BT, Thomson Locations: London, Canary, Canadian, Saudi, U.S, Brookfield, That’s, Docklands, Stratford, Wharf, QIA, Canary Wharf, Europe's

☆ The millionaire founder of a cake company is accused of cutting down over 130 trees to build a mansion for himself, report says
▼ + stars: | 2023-07-03 | by ( Sawdah Bhaimiya | ) www.businessinsider.com time to read: +2 min

The founder of a million-dollar cake company was accused of chopping down protected trees. He founded the egg-free cake company Cake Box which is now worth over $70 million. Sukh Ram Chamdal, the founder and CEO of egg-free cake company Cake Box valued at almost £58.4 million ($74 million) appeared in court on June 22 to plead not guilty to the offense. A spokesperson for MHP, the communications company that represents Cake Box, declined to comment on the situation because its an ongoing legal procedure. He founded Cake Box in 2008 after he struggled to find an egg-free cake for his daughter's birthday.

Persons: Chamdal, —, Sukh Ram Chamdal Organizations: Service, The Telegraph, Council, Crown Court, LinkedIn Locations: British, Loughton, Epping Forest, London, Indian, East London

[1/2] The HSBC headquarters is seen in the Canary Wharf financial district in east London February 15, 2015. The ripple effects of so many companies slashing office space has significantly impacted wider markets. 'GENIE OUT OF THE BOTTLE'HSBC for its part has one of the most aggressive targets to cut office space among major employers, with a commitment to axe around 40% globally. Canary Wharf Group, the Docklands commercial landlord, declined to comment. One of the Canary Wharf estate's newer developments, the YY building - a recently completed redevelopment of Thomson Reuters' former headquarters opposite Canary Wharf station - remains vacant, Bloomberg has reported.

Persons: Peter Nicholls, Tony Travers, Travers, Knight Frank, Weil, Gerardine Davies, HSBC's, Moody's, YY, Andrew Mawson, Iain Withers, Chiara Elisei, Sinead Cruise, Paul Sandle, Mark Potter Organizations: HSBC, REUTERS, Companies, London School of Economics, of, Perenna Capital Management, BT, UBS, City of London Corporation, Canary, Canary Wharf Group, Docklands, Thomson Reuters, Bloomberg, Workplace Associates, Employees, Thomson Locations: Canary, London, St Paul's Cathedral, of London, Real, Sweden, Aldgate, City, Swiss, Docklands, Canary Wharf

☆ HSBC to ditch Canary Wharf tower in favour of central London - memo
▼ + stars: | 2023-06-26 | by ( Iain Withers | ) www.reuters.com time to read: +1 min

LONDON, June 26 (Reuters) - HSBC has decided to leave its longstanding headquarters in Canary Wharf in east London in favour of a move to a much smaller office in the centre of the city, according to a memo seen by Reuters. Europe's largest bank told staff its preferred option was to move to the redeveloped former offices of telecoms firm BT, a development known as Panorama St Paul's. The switch will be seen as a blow to the Canary Wharf financial district, where a 45-floor skyscraper has been HSBC's home for more than 20 years. Panorama St Paul's is a 556,000 square foot development featuring roof gardens overlooking St Paul's Cathedral, according to the development's website, and is substantially smaller than the tower HSBC currently occupies. Canary Wharf Group, which runs the east London financial district, declined to comment.

Persons: Iain Withers, Toby Chopra, Jason Neely Organizations: HSBC, Reuters, BT, The Times, Canary, Canary Wharf Group, Thomson Locations: Canary Wharf, London, Europe's, St Paul's

☆ HSBC is downsizing its headquarters and leaving London’s Canary Wharf
▼ + stars: | 2023-06-26 | by ( Michelle Toh | ) edition.cnn.com time to read: +4 min

CNN —HSBC is halving the size of its global headquarters and moving out of Canary Wharf, a business district built in the abandoned docklands of east London in the 1980s. It follows similar moves by other big companies to get rid of expensive office space in cities around the world. The bank has long been a mainstay of Canary Wharf, where it occupies 1.1 million square feet of office space. HSBC is a key tenant in Canary Wharf, and its planned departure raises questions about whether other companies will also think about leaving. Canary Wharf Group, which manages real estate in the area, declined to comment when asked about the matter Monday.

Persons: San Francisco —, Knight Frank, Noel Quinn, Quinn, Jones Lang, Elizabeth, — Hanna Ziady Organizations: CNN, HSBC, Europe’s, Panorama St, City of, San, Canary, Canary Wharf Group, Lloyds, Standard Chartered, Barclays, BCS, Jones Locations: Canary Wharf, London, Panorama, City, City of London, Asia, Wharf, Canada, San Francisco, Canary, Jones Lang LaSalle .

☆ Morning Bid: World markets calm after Russia drama
▼ + stars: | 2023-06-26 | by ( ) www.reuters.com time to read: +5 min

More perplexed by events than anything else, world markets stayed relatively calm on Monday after a dramatic Russian military mutiny at the weekend was uneasily quelled. For Russian markets themselves, the rouble slipped to 15-month lows - but it too had been falling last week as oil prices ebbed. Largely now isolated from western investment, Russian stocks fell about 1%. U.S. Treasury yields slipped lower, perhaps with a smidgen of a safety bid from the weekend events helping too. Turkey's lira slid again to record lows after the central bank took steps to simplify rules governing lenders' holdings and foreign deposits after a sharp but underwhelming interest rate rise last week.

Persons: Mike Dolan, uneasily, Vladimir Putin, Leonardo, Raphael Bostic, James Bullard, Loretta Mester, Ed Osmond Organizations: Wall, Saab, Rheinmetall, Brent, . U.S, Treasury, Bank for International Settlements, HSBC, Dallas Federal, Central Bank, Central Banking, Atlanta Federal Reserve, St Louis Fed, Cleveland Fed, PMI, Thomson, Reuters Locations: U.S, Ukraine, Moscow, Shanghai, Europe, United States, ., Canary Wharf, London, Sintra, Portugal

☆ Stephen Lawrence: New suspect named in racist murder of Black British teenager
▼ + stars: | 2023-06-26 | by ( Caolán Magee | ) edition.cnn.com time to read: +4 min

London CNN —A new suspect has been named in the racist murder of Black teenager Stephen Lawrence in southeast London over 30 years ago. The statement, issued in response to a BBC investigation released Monday into the Met’s mishandling of key inquiries, added that too many “mistakes” were made in the initial investigation of the murder. Two men were sentenced to life in jail in 2012 for the murder, but “three or four other killers of Stephen Lawrence (are) at large,” according to the statement from the Met’s Deputy Assistant Commissioner Matt Ward. Lawrence, an 18-year-old architecture student, was fatally stabbed at a bus stop by a gang of youths in April 1993. He died in August 2021, months before the police declared the murder investigation inactive and said there were no further lines of inquiry.

Persons: Black, Stephen Lawrence, Matthew White, White, ”, Matt Ward, Baroness Doreen Lawrence, Stephen’s, “, Lawrence, Duwayne Brooks, Lawrence’s, Jeff Spicer, Ward, Sir Mark Rowley, ” Baroness Lawrence Organizations: London CNN, London’s Metropolitan Police Service, BBC, CNN, Met Locations: London

☆ A Fight to Improve London’s Air Quality, One Vehicle at a Time
▼ + stars: | 2023-06-24 | by ( Farah Nayeri | ) www.nytimes.com time to read: +1 min

Nick Arlett is a retired builder living in West Wickham, southeast London, and he owns a Renault Trafic van that runs on diesel fuel. If Sadiq Khan, the mayor of London, gets his way, Mr. Arlett will soon have to pay about $16 a day to drive his vehicle in the city — an amount Mr. Arlett says he can’t afford. That’s because on Aug. 29, Mr. Khan plans to extend London’s Ultra Low Emission Zone (ULEZ) to every borough of the capital in an effort to improve air quality and prevent illnesses and deaths caused by air pollution. To stop the measure from going through, Mr. Arlett is leading a campaign called “Action Against ULEZ Extension” with some 30,000 members. “I would absolutely be immobilized,” said Mr. Arlett in a phone interview about the ULEZ expansion.

Persons: Nick Arlett, Sadiq Khan, Arlett, Khan, “, ”, Mr Organizations: Renault Locations: West Wickham, London

☆ Squeeze on UK tenants tightens as rents outpace incomes, survey shows
▼ + stars: | 2023-06-20 | by ( Suban Abdulla | ) www.reuters.com time to read: +2 min

Asking and agreed rents continued to outpace incomes with tenants spending 28.3% of their pre-tax earnings on rent last month, above the 10-year average of 27%, Zoopla said. May's figures marked the 19th month in a row that rental price growth outstripped incomes. He expected affordability strains to slow the pace of rental growth in 2024. Inflation data for May is due to be published on Wednesday. Zoopla said 53% of renters it surveyed reported a rent rise in the six months to May, up from 35% six months earlier.

Persons: Toby Melville, Zoopla, Richard Donnell, Donnell, BoE, Moneyfacts, Liz Truss's, Zoopla's Donnell, Zoopla's, Suban Abdulla, Christina Fincher Organizations: REUTERS, Homeowners, Bank of, Nationwide, HSBC, Halifax, Thomson Locations: London, Britain, Bank of England

☆ A blind man is suing 3 rail companies after he fell onto the tracks just before a train arrived
▼ + stars: | 2023-06-18 | by ( Jyoti Mann | ) www.businessinsider.com time to read: +3 min

A blind man is suing three rail companies after he fell onto the tracks at a station in England. A blind man is suing a railway company and two train operators after falling onto railway tracks in England. He said the lack of tactile paving at the train station meant he wasn't alerted to the platform edge. Charity the Royal National Institute of Blind People said last year that 40% of major rail stations in the UK lacked tactile paving. A jury found that the lack of tactile paving "more than minimally" contributed to his death, Metro reported.

Persons: Abdul Eneser, He's, Eneser, it's, Cleveland Gervais Organizations: Morning, Manchester Piccadilly, Network Rail, Northern Rail, Guardian, Royal National Institute of Blind People, Metro Locations: England, Avanti West Coast, Eden, London

London CNN —A High Court judge in London has denied Julian Assange permission to appeal an order to extradite him to the United States, where he faces criminal charges under the Espionage Act. A London court issued a formal extradition order to send the Australian to the US in April last year; it was rubber-stamped by the UK government two months later. In January 2021, a UK judge rejected a request from the US to extradite Assange, ruling that such a move would be “oppressive” to his mental health. Amnesty International’s European Institutions Office described the latest court decision as “disappointing.” It said allowing the extradition “would set a dangerous precedent, threatening all our rights to freedom of expression” in a Twitter post. The reaction was similar from Reporters Without Borders (RSF) which said it was “deeply concerned” by the High Court decision against Assange which brings him “dangerously close” to being extradited.

Persons: Julian Assange, Justice Swift, Assange, Vanessa Baraitser, Mr, Assange’s, Stella, Julian, ”, Chelsea Manning, “, Rebecca Vincent, Biden, Dominique Pradalié Organizations: London CNN, CNN, WikiLeaks, High, U.S ., Twitter, London’s Metropolitan Police, Eastern, of, Army, Department, High Court, Amnesty, Office, International, European, of Journalists, British Locations: London, United States, Belmarsh, of Virginia, Guantanamo

CNN —It’s all systems go for Prince William’s Earthshot Prize lately. Now we’re hearing about a new partnership between the Prince of Wales’ initiative and online video platform YouTube. But away from the glitzy awards ceremony, some have wondered about the real-world impact of innovation prizes like Prince William’s. “Not only because of Prince William but the full Earthshot team that is there in order to support all the finalists. And I think it’s incredibly helpful to share some of the challenges that we have found along the way.”In recent weeks, Prince William even dropped by Notpla’s headquarters in northeast London.

Persons: CNN —, Prince William’s Earthshot, Prince, Prince William’s, William, Prince Philip, King Charles III ., Wales, Alex Bramall, Charles, Prince of Wales, King, Rodrigo Garcia Gonzalez, Gonzalez, Pierre Paslier, ” Gonzalez, “, Notpla’s, ” William, Jonathan Brady, Prince William, “ It’s, Kin Cheung, William “, David Attenborough, Annie Randall, King Charles, ”, couldn’t, Buckingham, Duke, “ He’s Organizations: CNN’s Royal, CNN, London, Imperial College London, Windsor, Getty Locations: Singapore, Wales, Kensington, Boston, United Kingdom, London, Cornwall, It’s

☆ ‘Translators’ Help a Jewelry Designer to Keep Creating
▼ + stars: | 2023-05-26 | by ( Rachel Garrahan | ) www.nytimes.com time to read: +1 min

LONDON — On an upper floor in Romilly Saumarez Smith’s 18th-century house in the Stepney neighborhood of east London is a small closet that the Smiths understand was used to powder the wigs of the home’s original owners. Now the 30-square-foot space is packed with a jeweler’s bench and other equipment, racks full of tools, piles of notes and sketches, and the works-in-progress of her intricate, lyrical creations. But one recent afternoon, it was not Ms. Saumarez Smith but the jeweler Laura Ngyou, one of Ms. Saumarez Smith’s assistants, who was working at the bench. In 2002, Ms. Saumarez Smith, now 69, was diagnosed with a rare form of secondary progressive multiple sclerosis that has left her paralyzed from the neck down, although she can speak without aids and has retained some feeling. A difficult few years followed, but then in 2010 she realized collaborations could enable her to continue bringing her creative imaginings to life.

☆ Floating tiny homes in London's financial district are on sale for $300,000. Take a look inside.
▼ + stars: | 2023-05-21 | by ( Tom Porter | ) www.businessinsider.com time to read: +1 min

Three unusual floating homes are on sale in Canary Wharf, east London. The houses are docked alongside houseboats and barges in a wharf near the financial district. Loading Something is loading. download the app Email address By clicking ‘Sign up’, you agree to receive marketing emails from Insider as well as other partner offers and accept our Terms of Service and Privacy PolicyThree unusual floating homes are up for sale in London's Canary Wharf, the UK capital's financial district. Real estate agents Hamptons told Insider said the 344 square foot properties are among several boat residences that have become popular in marinas across London.

☆ Bank of England governor says the UK is facing a wage-price spiral
▼ + stars: | 2023-05-18 | by ( Jenni Reid | ) www.cnbc.com time to read: +2 min

Susannah Ireland | Afp | Getty ImagesLONDON — After more than a year of warnings, Bank of England Governor Andrew Bailey says the U.K. is now experiencing a wage-price spiral despite 12 consecutive central bank interest rate hikes. "But it also reflects second-round effects as the external shocks we have seen interact with the state of the domestic economy." These areas of persistence, he continued, include domestic wage growth and price setting. The U.K. inflation rate surprised economists by holding above 10% in March. The Bank of England sees signs of a slowdown in wage growth, but observes that services inflation remains elevated, Bailey added.

☆ World leaders gather in London for King Charles' coronation
▼ + stars: | 2023-05-05 | by ( Michael Holden | ) www.reuters.com time to read: +4 min

Summary King Charles to host reception for world leadersRoyal fans gather on The Mall for coronationAcross Britain, preparations underwayPolls show many apathetic, question cost of lavish eventLONDON, May 5 (Reuters) - King Charles will hold a reception on Friday for world leaders gathered in London for his coronation this weekend, the biggest ceremonial event to be staged in Britain for 70 years. She will be among the world leaders attending the reception at Buckingham Palace on Friday evening which the king and queen will host along with other senior members of the royal family. The leaders of Australia and New Zealand will pledge their allegiance to King Charles at his coronation on Saturday even though both are life-long republicans who do not shy away from making their positions clear. The St Edward's Crown, which weighs about 2.2 kg (4 lb 12 ounces) and dates back to 1661 and the reign of his namesake King Charles II, will be placed on his head during the ceremony. Buckingham Palace said it expected it would provide an economic lift for Britain's struggling economy.

☆ A Black teen’s murder sparked a crisis over racism in British policing. Thirty years on, little has changed
▼ + stars: | 2023-04-22 | by ( Katie Polglase Sarah El Sirgany Ivana Kottasová Martin Bourke Oscar Featherstone | Katie Polglase | Sarah El Sirgany | ) edition.cnn.com time to read: +14 min

His killing and the subsequent failure of the London Metropolitan Police Service to properly investigate the crime sparked a national outcry. Within days of his killing at a bus stop in southeast London, five White teens were identified as being involved. It took years of campaigning by the Lawrence family — and public support from the likes of Nelson Mandela and the national press — to get the investigation moving. While an initial investigation by then-police watchdog the Independent Police Complaints Commission cleared the police of any wrongdoing, the Rigg family kept fighting. Matthew Brealey/CNNFinding peaceAs the Lawrence family and their supporters mark the 30th anniversary of Stephen’s killing, they are still fighting for his killers to face justice.

☆ 'Utterly irresponsible': SVB failure was caused by a banking — not tech — crisis, top VC says
▼ + stars: | 2023-04-21 | by ( Ryan Browne | ) www.cnbc.com time to read: +1 min

LONDON — The collapse of Silicon Valley Bank was the result of a crisis in banking rather than technology, according to a top venture capitalist. Anne Glover, CEO and co-founder of Amadeus Capital, said Friday that the SVB crisis was caused by "utterly irresponsible" practices by Silicon Valley Bank and its management — namely, taking short-term deposits from VCs and investing them in long-maturity debt. "It is a banking one-on-one failure, unbelievably irresponsible frankly by the senior management of SVB in California," said Glover, speaking at a tech investor showcase in east London. A spokesperson for SVB wasn't immediately available for comment when contacted by CNBC. The bank was a crucial pillar of the tech industry, offering financing for firms often turned away by the traditional banks.

☆ UK inflation is just not going down as cost of living crisis offers 'no respite'
▼ + stars: | 2023-04-20 | by ( Elliot Smith | ) www.cnbc.com time to read: +3 min

LONDON — U.K. inflation remained stubbornly in double digits in March, driven largely by soaring food prices, while the country's cost-of-living crisis shows little sign of abating. The British government still provides residential energy subsidies, guaranteeing a cap on average household energy bills of £2,500 per year until the end of June, along with targeted support to certain vulnerable homes. Consulting, said that the Wednesday figures showed "there is currently no respite from cost of living pressures." "Consumers are doing their best to make savings on essentials in order to maintain discretionary spending — this fragile equilibrium is underwritten by the ongoing energy subsidies without which a tipping point might be reached," he said. Core inflation, which excludes volatile food, energy, alcohol and tobacco prices, rose by 6.2% over the 12 months, unchanged from the annual climb of February.

☆ Swinging Sixties fashion designer Mary Quant dies aged 93
▼ + stars: | 2023-04-13 | by ( Farouq Suleiman | ) www.reuters.com time to read: +2 min

LONDON, April 13 (Reuters) - Fashion designer Mary Quant, often credited with popularising the miniskirt that helped define Britain's "Swinging Sixties" era, has died aged 93. Born and brought up in Blackheath, south east London, Quant helped pioneer bold new styles during the 1960s - a decade in which fashion, music and art subculture challenged and forever changed Britain's post-war national identity. "It’s impossible to overstate Quant's contribution to fashion," the Victoria and Albert Museum, which held a 2019 exhibition focused on her work, said in a statement. "She represented the joyful freedom of 1960s fashion, and provided a new role model for young women. A self-taught designer, Quant opened a west London boutique called Bazaar in the 1950s alongside her fashion entrepreneur husband Alexander Plunket Greene and their business partner.

☆ Food prices push UK shop price inflation to new high: BRC
▼ + stars: | 2023-03-27 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Hannah McKayLONDON, March 28 (Reuters) - Soaring food prices pushed annual inflation in British shops to its highest in at least 18 years in March, industry data showed on Tuesday. The British Retail Consortium said overall shop price inflation rose to 8.9% from 8.4% in February, the largest increase since the British Retail Consortium's (BRC) records started in 2005. "Shop price inflation has yet to peak," said BRC Chief Executive Helen Dickinson, who cited the rising cost of sugar as a major driver of higher food prices in March. Sugar prices have been hit by falling production, rising energy prices and a pesticide ban in Britain to protect bees. The country's annual consumer price inflation - which includes services and other non-shop goods such as energy - rose unexpectedly to 10.4% in February.

☆ Gilbert & George to open London art centre with after-life exhibition
▼ + stars: | 2023-03-24 | by ( Hannah Ellison | ) www.reuters.com time to read: +2 min

[1/5] Art duo Gilbert & George debut 'The Gilbert & George Centre' a permanent home for their artworks in East London, in London, Britain March 24, 2023. The Gilbert & George Centre, in the city's Spitalfields area, is less than 5 minutes from the life and work partners' home and studio. Normally it's limited what you can see in cities, here they can see an intense Gilbert & George feeling," Italian-born Gilbert, whose full name is Gilbert Proesch, told Reuters on Friday. "They're experiencing Gilbert & George art, that's what it is, our vision of the world, our morality, our behaviour and everything." British-born George, whose full name is George Passmore, added: "The Gilbert & George centre is going to be a cultural force."

☆ AI comes for the DJ: London partygoers rave to robot beats
▼ + stars: | 2023-03-15 | by ( Vin Shahrestani | ) www.reuters.com time to read: +2 min

"If we can have AI make beautiful music and we can play that to each other, I think that's probably why it's there. For Mubert’s CEO, Paul Zgordan, the rise of AI will inevitably result in some musicians losing jobs. "We want to save musicians' jobs, but in our own way," Zgordan told Reuters via videolink from the Armenian capital Yerevan. PRETTY GOOD JOBThe DJ booth, usually the focus of parties, was left empty as an experiment to see how revellers would react to the AI DJ. "There is no ChatGPT for music because music is more complex," he said.

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