London shops give way to Olympics

MANILA, Philippines – London is playing generous host in July to the world’s biggest sporting event, but this is at the expense of a lot of businesses. The London government has started demolishing about 100 establishments in the 246-hectare grounds where the games will be held, according to reports. This despite government spending of about US$1.2-B to buy land and compensate these businesses. Most of these are auto-repair shops and fast-food manufacturers who cater to local customers. The games will be held in Newham, a borough with about 270,000 residents that had the lowest average income in London in 2010, reports said.

Read more on Bloomberg

Add a comment

Sort by

There are no comments yet. Add your comment to start the conversation.