Weak world economy slows UK businesses’ dividend payout growth October 20, 2014 Dividend payouts barely increased in the past year despite Britain’s economic recovery, figures from Capita Asset Services show today. Instead the payouts are being slowed by weak economic growth overseas, as many listed British firms have substantial global operations. Total dividends in the third quarter came in at £25.5bn, just 0.2 per cent more than [...]
British economic expansion to slow as general election nears October 20, 2014 THE UK’s economic growth will slow next year but should remain at strong levels, a leading group of economists said today. In the second quarter of 2014 the UK had the fastest growing economy of any G7 nation, growing 3.2 per cent year-on-year. However, uncertainty surrounding May’s general election and the possibility of a referendum [...]
Dalian Wanda puts One Nine Elms homes on sale October 20, 2014 Another 200 homes will go on sale in London’s Nine Elms regeneration area as China’s biggest property company prepares to launch its £700m residential scheme this week. Dalian Wanda, which is led by the country’s wealthiest man Wang Jianlin, bought the Market Towers site at Vauxhall last year from Irish developer Green Property, marking its [...]
Societe Generale close to a deal for Canary Wharf headquarters October 20, 2014 French bank Societe Generale is understood to be close to signing a deal for a new office in Canary Wharf. The financial heavyweight had been widely expected to plump for a new headquarters in Spitalfields at the City Corporation’s Fruit and Wool Exchange site, but the bank is now reported to have chosen a site [...]
UK law firms’ revenues rise October 20, 2014 THE LEGAL sector is staging a comeback, with the majority of law firms reporting rising revenues, according to figures published by PricewaterhouseCoopers (PwC). Of the firms surveyed, 80 per cent reported higher levels of income in 2014 compared to 63 per cent who had seen an improvement last year. This is the highest figure since [...]
C4X Discovery IPO: Healthcare firm set to debut £31m City listing October 20, 2014 University of Manchester spin-out C4X Discovery will this morning announce its intention to raise £11m through listing nearly 36 per cent of the business on London’s Alternative Investment Market on Thursday. The float will give the Manchester-based business, which develops technologies to improve the discovery process for small molecule drugs for diabetes and substance [...]
Prudential backs Swansea energy project October 20, 2014 PRUDENTIAL has been named as the cornerstone investor in the £1bn Tidal Lagoon Swansea Bay Project, which has been designed to generate electricity by harnessing the power of the sea. Through its investment arm, M&G, Prudential will provide up to £100m for the project.
Somalian firms come to London to raise profile at Somalia Oil & Gas Summit October 20, 2014 Oil and gas exploration firms from Somalia will be trying to generate further interest in the region at the second Somalia Oil & Gas Summit, which starts in London today. Robert Sheppard, chief executive of the event’s lead sponsor Soma Oil & Gas, told City A.M.: “This is a great opportunity to highlight that the [...]
Sierra Leone’s finance minister Kaifala Marah joins London Mining sale talks October 20, 2014 Sierra Leone’s finance minister, Kaifala Marah, flew in to London this weekend to join talks concerning the potential sale of London Mining’s Marampa iron ore mine. The company was forced to appoint administrators from PwC last week and is now in discussions with Timis Corporation and Indian firm JSW, which are both interested in buying [...]
African private equity deals double in value October 20, 2014 THE VALUE of African private equity deals doubled during the first six months of 2014 to its highest level since the financial crisis, law firm Freshfields says. The poll by Freshfields Bruckhaus Deringer shows 15 deals worth $1.5bn (£931,000) were completed across the continent between New Year’s Day and 30 June. Although the value is [...]