[SYDNEY] The world's busiest air route isn't London to Paris or New York to Los Angeles, but the trip between Seoul and a tiny island off the coast of South Korea.Planes made 65,000 trips between the Korean capital and Jeju island - a journey of little more than an hour - in 2017, equivalent to 178 flights a day, according to data from OAG Aviation Worldwide. That's almost double the 35,000 trips on the busiest North American route: Los Angeles to San Francisco.Asian cities dominated the list, cementing the region's status as the world's fastest-growing travel market.Among the 10 busiest routes in the world last year, Los Angeles-San Francisco was the only North American entry and there wasn't a single European destination.The top European route in OAG's rankings was Dublin-London Heathrow with about 14,500 flights.Jeju-Seoul: The beaches and resorts of Jeju, an island off the southernmost tip of the Korean peninsula, have drawn local holiday-makers for decades. These days, … [Read more...] about World’s busiest air routes: Tiny island beats London, New York
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There’s a massive factory fire in North London, and at least 90 firefighters are battling it
A major fire has broken out at a paint factory in North London, with dozens of firefighters working to combat the flames. The London Fire Brigade said on Twitter on Monday night that there are 15 fire engines and 90 firefighters at the scene on Waterloo Road, Brent Cross. Videos and photos from the scene show massive fire and towers of smoke. Residents are advised to avoid the area, and to keep doors and windows shut. It’s not immediately clear what caused the fire. Social media posts from people nearby captured the blaze: This story is developing… … [Read more...] about There’s a massive factory fire in North London, and at least 90 firefighters are battling it
Rally at close of 2017 sees London IPOs double in value
A strong rally in quarter four (Q4) of 2017 ensured that the value of London IPOs more than doubled when compared to 2016, according to EY’s latest IPO Eye report.2017 saw a total of 77 IPOs listing in London - 32 on the Main Market and 45 on AIM - raising £13bn. This compares with 63 IPOs listing in 2016 raising £5.5bn - 26 on the Main Market and 37 on AIM.Q4 2017 alone accounted for £5.1bn in proceeds raised by 30 IPOs - 14 IPOs on the Main Market and 16 IPOs on AIM. It represents a significant increase from Q4 2016, which saw 16 IPOs (nine on AIM and seven on the Main Market) raising £2.4bn - half the overall capital raised in 2016.EN+ Group, a Russian energy company which listed in Q4 2017, was the largest IPO to list last year, raising £1.1bn of capital. Against a backdrop of record highs on the FTSE, the post-IPO performance of those listing has been steady. First-day returns on Main Market stock were on average just 1.1 per cent above … [Read more...] about Rally at close of 2017 sees London IPOs double in value
Investment intentions increase as London business confidence grows
Business confidence in London has risen to its highest level since the EU Referendum and firms are planning to increase investment in the next six months, according to the latest Business in Britain report from Lloyds Bank.Business confidence in London – calculated as an average of respondents’ expected sales, orders and profits over the next six months – climbed to 25 per cent, up from 20 per cent in July 2017 and from just four per cent immediately after the 2016 EU Referendum.As a result, the net balance of firms looking to grow investment in the next six months rose by six points to 16 per cent.The capital still faces some challenges, with the share of firms that continue to report difficulties hiring skilled labour rising by two points to reach 55 per cent – the highest of any UK region and above the national average of 46 per cent.The net balance of firms expecting to increase wages rose by just one point to 20 per cent, suggesting that companies … [Read more...] about Investment intentions increase as London business confidence grows
Food delivery startup Jinn is pulling out of all cities other than London
London-headquartered food delivery startup Jinn has pulled out of every city it operates in other than London, TechCrunch has reported. The company said in May that it had raised $US10 million (£7.6 million) in funding, which it said it planned to use to grow in its existing markets. But now the company has ended operations in cities including Edinburgh, Manchester, and Birmingham. “As we continue our path towards profitability, we have decided to focus our operations in London, where we currently receive over 90% of our orders,” founder Mario Navarro reportedly told TechCrunch. “With the objective of being profitable before the end of the year, we have temporarily paused our activity in other markets”. Jinn sent a text message to its riders in Edinburgh which informed them that the service was closing in the city. TechCrunch reported that there may have been layoffs at the company. Jinn did not reply to an emailed question about layoffs, and … [Read more...] about Food delivery startup Jinn is pulling out of all cities other than London