Natural disaster insurance payouts double after highest losses for four years January 4, 2017 Devastating earthquakes and powerful storms meant insurance firms forked out $50bn (£41bn) to settle disaster claims in 2016. The settlements were almost double the $27bn paid by insurers in 2015, according to an annual review by reinsurance behemoth Munich Re. Globally, an average of just 30 per cent of losses were covered by insurers meaning total losses for [...]
Hilton Food Group’s share price jumps after a joint venture is formed with Portugal’s leading food retailer January 4, 2017 Hilton Food Group's share price increased more than five per cent to an all-time high of 695p in morning trading after it announced a 50/50 joint venture agreement with Portugal's leading food retailer. This extends the UK-based retail meat packing company's presence to a total of 15 countries. The meaty deal with Sonae Modelo Continente will allow Hilton to supply a range of packaged beef, [...]
Middle Eastern investor buys up Sullivan & Cromwell’s European HQ January 4, 2017 A Middle Eastern investor has snapped up 1 New Fetter Lane, the European headquarters of international law firm Sullivan & Cromwell. UBS Triton Property Fund sold the Grade A property, which is located just south of Holborn Circus, for £69m. Sullivan & Cromwell recently agreed a new lease on the building which will end in 2026. Read [...]
Nisa bags a nicer Christmas trading period January 4, 2017 Convenience store chain and wholesaler Nisa Retail bagged a sales boost in the lead-up to Christmas, with like-for-like sales increasing 2.2 per cent. Total sales grew 2.7 per cent in the 10 weeks to the 1 January, reaching £235.6m, as compared to £229.5m during the same period last year. Read more: Christmas come early: CMA [...]
Top London chefs reveal food trends for 2017: British-grown, plankton and vegan January 4, 2017 Restaurant menus in 2016 were marked by the rise in avocado and gluten free foods. Starting to wonder what this year's food trends will be? Wait no longer. Top London chefs have revealed to Bookatable which trends are set to shake the restaurant market in 2017. Here are a few stand-out predictions. Plankton and charcoal will grace our menus Apparently, [...]
The Square Mile wants a ban on all diesel minicabs by 2020 January 4, 2017 Leaders in the City are calling on the Mayor of London to ban diesel mincabs in the capital in a bid to reduce pollution. The City of London Corporation wants Sadiq Khan to ban all diesel vehicles used by companies such as Uber and Addison Lee by 2020. New licenses would not be given to [...]
The tastiest deal of 2017? Ginsters owner confirms deal for West Cornwall Pasty Co January 4, 2017 We may only be a four days in to 2017, but there is already a contender for the tastiest – or, at least, stodgiest – deal of the year. Samworth Brothers, the company behind Ginsters, has reached an agreement to acquire West Cornwall Pasty Co. The deal will mean increased competition for Greggs. Read more: New [...]
Next’s shares tumble after company issues profit warning January 4, 2017 Next's shares have taken a hammering today after the retailer issued a profit warning. The retailer cut its profit forecast for 2017-18 to a range of £680m-£780m. Analysts had estimated the forecast would be £784m. Following the announcement, Next's share price tumbled by 12 per cent. Next's shares have now fallen nearly 50 per cent since [...]
Titanic struggle between mobile data allowance and user demand is settled January 4, 2017 | City Talk It’s the quintessential 21st Century dilemma: you’ve just spotted Leonardo DiCaprio outside an Edinburgh café and snapped the best celebrity selfie of your life. But can you risk a Facebook Live broadcast? Just how much mobile data do you have left? Then you remember you’re in Scotland’s capital where, since the end of November 2016, [...]
Aggreko wins $40m deal to power the 2018 Winter Olympics January 4, 2017 Scottish power firm Aggreko has been given the important job of ensuring the lights stay on at next year's Winter Olympics in South Korea. The news will come as welcome relief to the firm having endured a challenging 2016 that included missing out on a similar contract with organisers of the the summer games in [...]