London Assembly launches new probe into scrapped Garden Bridge project November 15, 2018 The Greater London Authority (GLA) is to investigate the scrapped £200m Garden Bridge project that was promoted under former mayor Boris Johnson. The GLA announced at an oversight committee this morning that it had set up a cross-party working group to scrutinise decisions on the Garden Bridge taken by the Garden Bridge Trust and Transport for London (TfL), [...]
Theresa May vows to fight on amid cabinet resignations and calls to quit November 15, 2018 A defiant Theresa May vowed to fight any challenge to her leadership after she faced a host of ministerial resignations and calls for her to quit. On yet another day of high drama in Westminster, Brexit secretary Dominic Raab resigned his position in protest at May’s draft exit deal with Brussels, and was soon followed [...]
Safestore plans four new units after year of strong growth November 15, 2018 Shares in Safestore dropped sharply despite the company showing growth in the financial year as it filled up its storage units in France and the UK. Revenues for the year ending October rose by 10.8 per cent to 143.9m, or 5.6 per cent on a like-for-like basis, the company said in a trading update today. [...]
Beyonce buys out Ivy Park clothing brand from Topshop billionaire Sir Philip Green November 15, 2018 American singer Beyonce has severed ties with embattled Topshop billionaire Sir Philip Green by buying out his share in their fashion label Ivy Park. Beyonce and Sir Philip launched the gymwear venture in 2016 and the label is sold in Topshop, which is owned by Green’s retail empire Arcadia. But the global pop star has withdrawn [...]
England housing stock increases but housebuilders still fall short of target November 15, 2018 The number of new homes completed in England in the last year reached its highest level in a decade, but growth has plummeted as Brexit uncertainties take hold. Just over 222,000 more homes were added to England’s housing stock in 2017-2018, according to figures released today by the minister of housing, communities and local government (MHCLG). [...]
Property firm Crosstree buys Edmonton Green shopping centre for £72m November 15, 2018 Real estate firm Crosstree has bought Edmonton Green Shopping Centre in north London for £72m, the company said today. The property firm, which co-owns retail space in the O2 arena, said it has exchanged contracts with owners St. Modwen for the 495,000 square feet (sq ft) shopping centre in Edmonton. The shopping centre, which sits on [...]
Debenhams supplier issue could be ‘nail in the coffin’ for department store November 15, 2018 Supplier problems that have reportedly hit Debenhams could be the “nail in the coffin” for the embattled department store, according to industry experts. A number of high street suppliers stopped working with the 240-year-old store after credit insurers reduced their protection, trade magazine Drapers reported. “They really need to implement strategic change in the business, [...]
TfL bosses stopped claiming expenses during the summer as the Elizabeth Line hit the rocks November 15, 2018 Transport for London (TfL) bosses did not claim any expenses over the summer while it was embroiled in troubles regarding the £15.4bn Elizabeth Line. From July to September, TfL bosses claimed no expenses for work-related activities such as travel costs, dinners and work mobile phones for the first time since 2013, the first year for which data is available. In 2013, [...]
Investec profits rise as banking giant prepares to list asset management arm in London November 15, 2018 Banking giant Investec reported a 14 per cent profit rise in the first half of the year as it prepared for the demerger of its asset management division. The Anglo-South African banking giant reported operating profit increased 14.2 per cent to £359m led by strong profits in its banking division. Investec said specialist banking profits [...]
Debenhams shares rebound as wider retail sector suffers in October November 15, 2018 Shares in embattled department store chain Debenhams have rebounded this afternoon after suffering its biggest single day loss in a decade yesterday. Its share price was up 18 per cent to 6.2p having fallen to a low of 4.6p earlier in the day – a 40 per cent drop since Friday. A number of high [...]