Of all the cases of economic espionage charged by the DOJ's National Security Division since 2012, more than 80% of them implicated China.World Politicsread more
Removing Neumann is a difficult decision for Son, who has long believed in WeWork and Neumann's vision to quickly expand the company.Technologyread more
In his new memoir, "The Ride of a Lifetime," Iger explains why he decided against the deal to buy Twitter.Technologyread more
"Whilst there is a big dispute at the moment, I think there's also potential for resolution," UBS chairman Axel Weber says of the U.S.-China trade negotiations.Singapore Summitread more
"This would be the most profound violation of the presidential oath of office certainly during this presidency," House Intelligence Chair Adam Schiff said.Politicsread more
On Sunday, the 71st Primetime Emmy Awards honored the best comedies, dramas, limited and variety series from the last year.Entertainmentread more
Cryptocurrency fans will hope the futures contracts, which are federally regulated, can provide some much-needed legitimacy to bitcoin.Cryptocurrencyread more
Despite mixed fan and critic reactions to the final season of "Game of Thrones," the eight-season epic took home the top prize in the drama category at the Emmy Awards on...Entertainmentread more
There are alternative financial centers and investors can turn to Singapore, Tokyo or Shanghai if Hong Kong doesn't "shape up," says the founder and chairman of Citic Capital.Singapore Summitread more
The Kingdom and oil and gas industry have been slow to shore up defenses, raising red flags about the possibility of longer term fall-out in the region.Technologyread more
Tensions between South Korea and Japan may ultimately disrupt the high-end tech sectors, says Heenam Choi, CEO at South Korea's sovereign wealth fund.Singapore Summitread more
A garage in the upmarket London district of Chelsea is set to be auctioned for £180,000 ($261,567) or more, as the escalation in real estate prices in the already expensive city continues.
The garage – set to be auctioned later this month – offers secure off street parking and has an internal area of approximately 146 square feet. It is described by estate agents at Savills as "rarely available."
"Garages are an increasingly rare commodity in central London, where even some of the highest value properties lack off street parking," Chris Coleman-Smith, head of Savills auctions, said in a news release.
He added that garages had attracted a premium in recent years. "While they've already made headlines for achieving incredibly high prices in prime central London, garages can still offer good potential returns."
The price of the garage is close to that of the average house in England and Wales, which is £188,270, according to the Land Registry House Price Index.
However, in December the average house price in London was £514,097, representing an annual increase of 12.4 percent and highlighting the disparity between the cost of living in the capital city and elsewhere.
"It may seem out of this world to anybody recently landed within the M25 (the highway that encircles London and its surrounding counties) that the price of accommodating one car is almost the average price of a house across the United Kingdom," a London-based buying agent, Henry Pryor, told CNBC in a phone interview.
"Clearly people are prepared to pay an awful lot of money in order to garage their – usually – very expensive motor cars," he later added.
Even outside of London, house prices are rising steadily on average. According to the latest Halifax Price Index, U.K. house prices grew 9.7 percent higher year-on-year between November and January.
"The imbalance between supply and demand continues to exert significant upward pressure on house prices," Halifax housing economist, Martin Ellis, said in a report.
"This situation looks set to persist over the coming months. Further ahead, increasing affordability issues, as price increases continue to exceed wage growth, are likely to curb housing demand and cause price growth to ease," he added.