Workspace site gets go-ahead April 2, 2014 SMALL business landlord Workspace has won planning consent for the second phase of its redevelopment of the Filaments site in Wandsworth. The 20-storey scheme will create 77 flats and 18,000 square feet of new office space for the group, which leases space to companies like Moonpig and White Stuff. The first phase is already underway [...]
Mango’s juicy online sales April 2, 2014 SPANISH fashion outfit Mango yesterday reported a 77 per cent increase in online sales last year. The group, which gets 83 per cent of its turnover from outside Spain, said revenues and profits for 2013 both rose nine per cent to €1.846bn (£1.5bn) and €120.5m respectively. Online sales accounted for just under seven per cent [...]
Microsoft to offer Windows free on phones April 2, 2014 MICROSOFT said yesterday it will give away its Windows operating system to makers of smartphones and small tablets as it seeks to grab a toehold in the fast-growing markets. It comes a week after new boss Satya Nadella unveiled new versions of Word, PowerPoint and Excel for Apple’s iPad.
City Moves for 03 April 2014 | Who’s switching jobs April 2, 2014 Waverton Investment Management The investment management firm has appointed Ian Enslin to its charities team. He joins from Newton Asset Management, and has previously worked at Barings, Invesco and Norwich Union. City Financial The asset management business has hired Mark Pearson as marketing director. He was formerly head of investment strategy and communications at Aegon [...]
Best of the Brokers for 03 April 2014 April 2, 2014 To appear in Best of the Brokers, email your research to notes@cityam.com TESCO HSBC cut its price target for the supermarket from 300p to 260p due to the structural changes in the sector and the need for Tesco for take decisive action such as investing its margin before it’s eroded. The broker cut its earnings [...]
London Report: Rise in miners and banks helps drive FTSE to 3-week high April 2, 2014 BLUE chip shares inched higher yesterday, propped up by cyclical banks and mining companies on encouraging economic news in the United States. The FTSE 100 ended up 6.43 points, or 0.1 per cent, at 6,659.04 points, its highest close since 11 March, with the UK banking index up 0.7 per cent, and the mining index [...]
New York Report: S&P 500 soars to fresh record April 2, 2014 THE S&P 500 closed at another record high yesterday as signs of steady private-sector hiring suggested that the economy was slowly building momentum after a winter-related pullback. That also put more focus on Friday’s government jobs data, which is among the most widely watched economic indicators. Yesterday’s data from payrolls processor ADP showed US private-sector [...]
Why an energy price freeze may short change consumers April 2, 2014 The government’s majority against Labour’s energy price freeze was reduced to just 27 in a vote in the House of Commons this afternoon. Labour leader Ed Miliband called for the vote last week, demanding that domestic customers and small businesses have their energy bills frozen immediately. They may have lost the vote but the opposition [...]
Raise rates now to avoid crash, urges L&G April 2, 2014 Britain’s economy is at risk of overheating, starting a new boom and bust cycle, Legal and General economist James Carrick warned today. He urged the Bank of England to raise interest rates this year and start reining in the housing market, if it wants to avoid another crash in around three years’ time. Bank governor [...]
Does London need its own housing minister? April 2, 2014 Tory minister Kris Hopkins caused something of a storm on Newsnight yesterday, by appearing relatively blase about the rocketing cost of housing in the UK. “If I I buy a house I expect the value to rise,” said Hopkins, who was equally laid back about the country’s shortage of accommodation. “I don’t want to put [...]