Tag Archives: London

London luxury property is still glitzy for Middle East investors

London mayor: U.K. has no game plan on Brexit The weak pound and falling prices are encouraging Middle East investors to continue to pour millions into London luxury real estate despite concerns about Brexit. “They love London,” said Niccolo Barattieri di San Pietro, CEO of luxury property developer Northacre, which is owned by the Abu Dhabi Financial Group. “They want to send their kids there, they speak the language, they understand the legal system.” Northacre started selling units at The Broadway in London last week. The development consists of 285 ...

Read More »

People injured in crash near London museum

A car has been involved in a collision near the Natural History Museum in London, police say. The Metropolitan Police said a “number” of people had been injured – but a BBC reporter at the scene said she was told by police the injuries were minor. One person has been arrested following the incident in Exhibition Road in South Kensington. Police said inquiries are under way to establish the circumstances and any motive. BBC reporter Chloe Hayward was leaving the Natural History Museum as the incident happened. “I could see ...

Read More »

Brexit bust? London home prices fall for 1st time in 8 years

Virtual reality is the new open house It’s finally happened. London property prices have fallen after years of runaway increases. London home prices slipped 0.6% in the quarter ended September, according to Nationwide. It’s the first decline since the financial crisis. The mortgage provider said the average sale price for a London home is £472,000 ($ 630,000), an increase of 56% from a decade ago and more than double the current national average. Nationwide said that mounting pressure on household incomes was weighing on confidence and contributing to the slump. ...

Read More »

Uber: London mayor Sadiq Khan backs talks after firm's apology

London Mayor Sadiq Khan has asked the city’s transport regulator to be available to meet Uber’s boss after the firm apologised. Uber chief executive Dara Khosrowshahi said he was sorry for the “mistakes we’ve made” after the taxi-hailing firm lost its London licence. He said in an open letter that Uber would appeal against the city’s decision, but accepts it “must change”. On Friday, Transport for London (TfL) denied Uber a new licence to operate. Mr Khan said: “I welcome the apology from Dara Khosrowshahi, the Uber CEO. Obviously I ...

Read More »

London architect fights climate change with timber high-rises

With an eye on sustainability, architects embrace timber Architects are turning to one of the oldest construction materials to solve a new problem: how to build homes without damaging the environment. A London firm says sustainable timber could help the city address its housing shortage while reducing carbon emissions. “If you look at a building’s climate footprint over 14 years, it is about 80% the building materials that go into it,” Andrew Waugh, a founding partner at Waugh Thistleton, told CNNMoney. “We need to change the way we live for ...

Read More »

Five injured in east London 'acid attack'

Media playback is unsupported on your device At least five people have been injured in Stratford, east London, after a reported acid attack. Police were called to Stratford Centre, opposite Westfield, just before 20:00 BST. A man has been arrested on suspicion of grievous bodily harm. Police said there had been reports of a group of males spraying people with a noxious substance. Ambulance and fire services were also called. The incident is not believed to be terror related. Media playback is unsupported on your device Those reported injured were ...

Read More »

What happens if Uber loses London for good?

Timeline: Uber’s management crisis As if Uber’s new CEO didn’t already have his work cut out for him, now he has to deal with losing one of the company’s biggest markets. On Friday, London’s transport authority said Uber is not “fit and proper” to operate in the city. The city opted not to renew the company’s license — a decision partly based on some of the damning revelations that surfaced about Uber this year. Among those revelations: The company used controversial “Greyball” software to prevent regulators and law enforcement from ...

Read More »

Uber petition over London licence loss reaches 400k

Hundreds of thousands of people have signed a petition calling for Transport for London to reverse its decision not to renew Uber’s licence. On Friday, the regulator said Uber was not “fit and proper” to hold a London private hire operator licence on the grounds of “public safety and security implications”. More than 400,000 names have since been added to Uber’s petition on Change.org. The ride-hailing app firm says it will appeal against TfL’s decision. The petition, started by Uber London, says: “If this decision stands, it will put more ...

Read More »

Uber loses its licence to operate in London

Uber will not be issued a new private hire licence, Transport for London (TfL) has said. TfL concluded the ride-hailing app firm was not fit and proper to hold a private hire operator licence. Uber’s approach and conduct demonstrated a lack of corporate responsibility which could have potential public safety and security implications, it said. Uber said it would immediately challenge the decision in the courts. Some 3.5 million passengers and 40,000 drivers use the Uber app in London. Latest updates and reaction In a statement, Uber said: “Transport for ...

Read More »

London says it won't renew Uber's license

Timeline: Uber’s management crisis London’s transport authority said Friday that it will not renew Uber’s license, saying the company is not “fit and proper.” Transport for London cited the company’s approach to reporting serious criminal offenses, and its use of software that prevented regulators and law enforcement from monitoring the app. The agency made the announcement from its Twitter account. London mayor Sadiq Khan said he “fully supports” the decision to not renew the license when it expires September 30. “All companies in London must play by the rules and ...

Read More »