UK IPO: Standard Life Aberdeen chief Sir Gerry Grimstone says Saudi Aramco should come to London October 2, 2017 Sir Gerry Grimstone, chairman of Standard Life Aberdeen, has backed a listing of Saudi Aramco in London. Saudi Aramco, a petroleum giant comprising the oil wealth of Saudi Arabia, is planning a listing that could value the company at $2 trillion. London and New York are the frontrunners for the listing, but a float on [...]
Swedish design creatives in Malmo and the surrounding Skane region are challenging Stockholm for the crown October 2, 2017 For ancient history buffs, it’s Rome or Stonehenge; for foodies, it’s Le Marais or Tuscany; for design nerds, home is Sweden. There’s something about its laidback charm, its rustic, uncluttered décor that’s universally appealing. But there’s a feeling that its capital, Stockholm, has lost a little of its moxie. Sky-high property prices and an ultra [...]
UK house prices: The 10 most expensive streets for million pound properties in London and Britain revealed by Zoopla October 2, 2017 The number of streets where homes cost more than £1m has grown by 16 per cent over the past year, new figures reveal. But the value of property on the most expensive street in Britain has fallen by £2.5m and, in fact, prices have declined on half of the top 10 priciest roads as London’s [...]
Barratt, Persimmon, Taylor Wimpey and Berkeley share prices are on the up as Theresa May’s Help to Buy October 2, 2017 What happens when you promise £10bn to help young people buy a home? The companies building houses get a boost. Shares in housebuilders are on the up this morning and among some of the biggest FTSE 100 risers after Prime Minister Theresa May promised the fresh cash for the Help to Buy scheme. Barratt Development [...]
Monarch Airlines collapses prompting “biggest ever peacetime repatriation” of 110,000 stranded passengers October 2, 2017 Monarch has ceased operations with immediate effect having collapsed into administration this morning. Around 110,000 passengers have been left stranded overseas. Authorities are promising to ensure they are flown back home in what transport secretary Chris Grayling called “the country’s biggest ever peacetime repatriation”. All flights have been cancelled and authorities are urging passengers with [...]
Mifid II set to slash analyst jobs and shake up the economics of broker research, according to a new report from Capital Access Group October 2, 2017 The much maligned second Markets in Financial Instruments Directive (Mifid II), which aims to make fund managers pay brokers separately for research and trading services rather than bundling costs together, is set to cause a drastic shift in the industry according to new research. Most analysts are currently paid for by the commissions generated from [...]
Staveley ditches West End law firm Fladgate for US heavyweights Quinn Emanuel Urquhart & Sullivan in Barclays dispute October 2, 2017 PCP Capital Partners, the investment firm founded by Amanda Staveley, has ditched West End law firm Fladgate as its advisers in its £1.2bn court battle against Barclays. It has instead appointed Quinn Emanuel Urquhart & Sullivan, a prestigious US-based firm which specialises in business litigation and arbitration. Staveley changed representation due to the high stakes [...]
As Uber’s new boss Dara Khosrowshahi jets to London for licence talks with TfL, he faces a board battle with Travis Kalanick too October 1, 2017 Uber’s newly installed boss Dara Khosrowshahi is facing fresh trouble on home turf as he prepares to jet to London for crunch talks over its licence to operate in the capital. Having taken the driving seat at the top tech firm just weeks ago, Khosrowshahi is already facing multiple battles in a hangover from his [...]
Virgin entrepreneur Richard Branson reveals Brexit has cost “tens of millions of pounds” October 1, 2017 One of Britain’s most successful entrepreneurs has revealed that Brexit has cost his business “tens of millions of pounds”. Billionaire Richard Branson, the man behind an empire which has spanned airlines to record stores, revealed the cost months after he sold off a multimillion pound major stake in Virgin Atlantic to Air France-KLM. He cited [...]
German Chancellor Angela Merkel told by allies to listen to the wishes of nationalist voters September 30, 2017 German Chancellor Angela Merkel has been urged by allies to head off electoral gains made by far-right party Alternative for Germany (AfD). Merkel is in the process of negotiating a coalition with the left-wing Green party and pro-business FDP after last Sunday’s general election. The chancellor’s Christian Democrat (CDU) party lost ground in the election [...]