Outsourcer Interserve falls into administration after shareholders reject rescue deal March 15, 2019 Interserve has fallen into administration after shareholders roundly rejected a rescue deal designed to relieve it of a more than £630m debt pile. The public outsourcer has announced it expects to fall into the hands of administrators after investors voted to reject its proposed deal by 59 per cent to 41 per cent at a general meeting this morning. Earlier [...]
Sir Philip Green set to axe jobs and stores in vast Arcadia restructure March 15, 2019 Sir Philip Green is set to close vast numbers of Top Shop, Dorothy Perkins and Miss Selfridge in a huge restructure of his Arcadia retail empire, it is reported. Read more: Philip Green closes 210 Arcadia stores over two years The high street billionaire is preparing a company voluntary arrangement (CVA) that could result in [...]
Telecom Italia backs chief executive Gubitosi as it hits back at Vivendi March 15, 2019 The board of embattled firm Telecom Italia has thrown its weight behind chief executive Luigi Gubitosi as it hit back at dissident investor Vivendi. “The attribution of powers to Mr Luigi Gubitosi represented, and represents, the best possible solution for the company and for all its shareholders,” the company wrote in a statement last night. [...]
Opinion: First time buyers purchasing new builds with the help of Mum and Dad are missing out on SDLT relief March 15, 2019 Stamp duty land tax relief for all first-time buyers for purchases up to £500,000: this was the pledge made by the Chancellor, Rt Hon Philip Hammond MP, in the 2017 Autumn Budget. Given the usual stamp duty threshold is far lower than the average house price in London, this was a big win for first-time [...]
Opinion: Post-Brexit Britain should be open to the world and a foreign buyer tax sends exactly the opposite message March 15, 2019 House price growth is at its lowest rate in five years, according to the latest ONS statistics. While Brexit is clearly a contributing factor, stamp duty is the main culprit in the London market. It is therefore highly alarming that the government has decided to press ahead with divvying out yet another stamp duty burden. [...]
New homes: Our pick of the new builds going on sale in London this weekend March 15, 2019 New developments on the market this week Boat Race House, Barnes From £485,000 Enjoy a prime view of the finishing line of the Boat Race in the comfort of your own home at this new riverside development. As well as a view of the Thames, buyers of these new homes will be guaranteed private outdoor [...]
Don’t hit snooze: Eve Sleep calls on Apple to scrap ‘detrimental’ snooze function in iOS update March 15, 2019 Mattress maker Eve Sleep has published an open letter asking that Apple delete the snooze function from its alarm clock app in iOS 12.2. Read more: Britain is sleepwalking into the clutches of the exhaustion industry The letter sent to Apple's London headquarters and addressed to chief executive Tim Cook asks Apple to “single-handedly improve the nation's sleep [...]
Property Legal Q&A: We believe our new build flat should be ready in three months’ time and have just been advised our mortgage offer has expired. What should we do? March 15, 2019 There are a few issues for you to consider. You do not say whether you have received formal notification from the developer requiring you to complete in three months. Usually, a contract for the purchase of a property not-yet-built will contain a procedure stating that completion is on notice i.e. the developer will notify you [...]
Google braced for EU fine over advertising competition breach March 15, 2019 The EU’s competition commission is set to hit Google with another fine following an investigation into its advertising business. Commissioner Margrethe Vestager will announce the fine next week following a probe into Google AdSense, the Financial Times reported, citing three people familiar with the case. Read more: Google removed 2.3bn ‘bad ads’ last year Google [...]
Investigators begin looking into data from Boeing 737 Max black box flight recorder after Ethiopia disaster March 15, 2019 Air safety investigators in France have begun studying information from the black boxes of a Boeing 737 Max plane that crashed in Ethiopia on Sunday, killing 157 people. The incident has sparked a torrid week for Boeing, in which all major global aviation authorities banned its Max jets – its newest range – from their [...]