LONDON: Global technology colossus Apple on Wednesday announced plans to create a London headquarters in the iconic and long-abandoned Battersea Power Station on the banks of the River Thames.
“We are looking forward to opening Apple’s new London campus at The Battersea Power Station in 2021,” the company said.
Around 1,400 staff from eight existing offices in London will relocate to the renovated landmark, whose distinctive chimneys have towered over the central neighborhood of Battersea since the 1930s.
The former power station lay derelict since it stopped generating electricity in 1983, but is undergoing a £9 billion ($11.7 billion, 10.4 billion euros) makeover to turn the 42-acre (170,000 square meter) space into offices, apartments, shops and leisure facilities.
The new “Apple complex” will take over 40 percent of the office space.
The firm called it “a great opportunity to have our entire team working and collaborating in one location while supporting the renovation of a neighborhood rich with history.”
Finance Minister Philip Hammond said the announcement “further strengthens London’s position as a global technology hub, and demonstrates how the UK is at the forefront of the next steps in the tech-revolution.
The power station is one of the world’s largest brick structures, and is noted for its Art Deco interior fittings.
It has frequently popped up in popular culture, featuring in The Beatles film “Help!” and on the cover on Pink Floyd’s 1977 album “Animals.”
Apple to make famous Battersea Power Station its London HQ
Apple to make famous Battersea Power Station its London HQ
Closing Bell: Saudi main index closes in red at 10,847
RIYADH: Saudi Arabia’s Tadawul All Share Index dipped on Wednesday, losing 58.51 points, or 0.54 percent, to close at 10,847.93.
The total trading turnover of the benchmark index was SR3.78 billion ($1 billion), as 73 of the listed stocks advanced, while 187 retreated.
The MSCI Tadawul Index decreased, down 7.09 points or 0.48 percent, to close at 1,472.98.
The Kingdom’s parallel market Nomu lost 178.75 points, or 0.77 percent, to close at 22,916.83. This comes as 30 of the listed stocks advanced, while 37 retreated.
The best-performing stock was the Power and Water Utility Co. for Jubail and Yanbu, with its share price surging by 8.47 percent to SR31.24.
Other top performers included Saudi Paper Manufacturing Co., which saw its share price rise by 6.13 percent to SR53.70, and Jamjoom Pharmaceuticals Factory Co., which saw a 4.58 percent increase to SR137.
On the downside, the worst performer of the day was CHUBB Arabia Cooperative Insurance Co., whose share price fell by 5.14 percent to SR17.53.
Saudi Kayan Petrochemical Co. and Arabian Internet and Communications Services Co. also saw declines, with their shares dropping by 4.87 percent and 4.43 percent to SR4.88 and SR181.40, respectively.
On the announcement front, Saudi Kayan Petrochemical Co. announced its annual financial results for 2025, with sales dropping 3.06 percent year-on-year to SR8.45 billion. The company also recorded a net loss of SR893.86 million.
In a Tadawul statement, the company said the net loss and decline in annual sales were driven by a drop in average selling prices, despite higher sales volumes.
