Dave Lewis begins first day as Tesco boss August 31, 2014 Former Unilever executive Dave Lewis has taken up his role today as chief executive of Tesco – a month earlier than planned – after the troubled food retailer issued its second profit warning in six weeks on Friday. Tesco slashed its interim dividend by 75 per cent and said it would cut its capital expenditure [...]
City closes in on prime West End property values August 31, 2014 HOUSE values in the City of London are catching up with the West End, while Dockland prices are suffering because of oversupply, research shows. Analysis from high-end real estate agent Beauchamp Estates reveals the average price of new or second-hand properties in the City has climbed to £739,546 for the last 12 months, compared to [...]
Massive price premium added to homes near overground stations August 31, 2014 Houses within easy walking distance of London overground stations have been boosted in value by £90,000 since the line was set up, running to an eye-watering £80bn price increase in total. According to analysis by Hamptons International, homes within a 10 minute walk of an overground station have outdone the rest of London’s house price [...]
UK jobs boost: hiring up by a fifth in a year August 31, 2014 PROFESSIONAL recruiters have seen a solid uptick in the number of advertised vacancies, up by more than a fifth since the same period last year. According to the Association of Professional Staffing Companies (Apsco), recruiters are reporting 22 per cent more vacancies now than at the end of summer in 2013. The level of job [...]
Charlotte grabs an awards treat to last all night August 31, 2014 The City A.M. awards are fast approaching and with the shortlists being revealed next week, we thought we’d get the ball rolling by announcing the winner of our competition. We offered one lucky reader the chance to win two tickets to the awards and a night’s stay at the venue, Grange St Paul’s Hotel. We’ve [...]
Three things you didn’t know about… August 31, 2014 Chief executive of Nutmeg Nick Hungerford 1 He’s one of the few Brits to have trained with both the US Navy Seals and Top Gun fighter pilots. 2 After a severe neck injury playing rugby he spent a season refereeing, got half-decent at it and ended up being the youngest referee (18) of an age-grade [...]
UK’s top 100 law firms see profits soar above £6bn August 31, 2014 Profits at the top 100 law firms in the UK have soared to well over £6bn in the latest financial year, with more than 1,000 partners now earning over £1m annually. The top 100 law firms in the UK, comprising over 65,000 lawyers, saw revenue rise to over £20.8bn, up from £19.1bn in 2013, [...]
Iceland makes return to public markets after £950m refinancing August 31, 2014 ICELAND is set to report its first quarterly trading update to bondholders this month after completing a £950m refinancing that saw the frozen foods retailer return to the public markets for the first time in almost a decade. The grocer, which runs 833 stores and franchises in UK and Europe, placed £950m of high yield [...]
3i poised to bid for media data group Gorkana August 31, 2014 FTSE-100 listed private equity outfit 3i is understood to be considering a bid for Gorkana Group, the media information and PR group owned by Exponent. Gorkana operates a media database, with contact details of journalists and public relations advisers. It also offers social media monitoring and press cuttings, generating profits of £15m-£16m in its most [...]
Two Australian firms join chase for Porterbrook August 31, 2014 Th leasing company that owns a third of trains running in the UK looks just the ticket for two Australian investment firms, as they are believed to have jumped on board the chase to buy railway rolling stock supplier Porterbrook. Porterbrook was founded in 1994 during the rail privatisation enacted by the Conservative government led [...]