London house prices have fallen for the first time in eight years says Nationwide’s house price index for September September 29, 2017 Year-on-year house prices in the capital have dropped for the first time in eight years, according to Nationwide’s latest house price index. Prices in the capital dropped to an average price of £471,761 this month, down 0.6 per cent compared with September last year. That makes London the weakest performing region for the first time [...]
Budding entrepreneurs deserve a crash course in leadership skills September 29, 2017 Theresa May, Jeremy Corbyn, and Vince Cable have all been limbering up in recent weeks, stretching their political muscles to the tune of the applauding party faithful. At the party conferences, they get a chance to see what management styles are working – or not. Meanwhile, successful entrepreneurs gets no such exercise. Britain’s 5.2m small [...]
Angry Birds maker Rovio is flying high after floating for almost €900m September 28, 2017 Rovio, the company behind iconic game Angry Birds, should have a smile on its face today after it floated in Helsinki at the top of its price range at a market value of €896m (£786m). The price was set at €11.50 per share, compared with an initial range of €10.25 to €11.50, Rovio said. Read [...]
UK private equity is heading for its strongest year since the financial crisis with £12bn of buyouts September 28, 2017 Private equity investment in UK companies is heading for its strongest year since the financial crisis, as the third quarter of this year saw the highest amount of money invested since 2007. Buyout houses dug into 44 deals worth a combined £12bn between July and September, deploying the most capital in UK businesses for a [...]
Toshiba finally signs £13bn deal to sell chips unit to Bain Capital-led consortium, but signs of discord emerge as press conference cancelled September 28, 2017 Toshiba Corp has finally signed a ¥2 trillion (£13bn) deal to sell its prized chips unit, Toshiba Memory Company (TMC), to a consortium led by private equity giant Bain Capital. The consortium, which also consists of tech names such as Apple and Dell, staved off competition from bidders including Western Digital, Toshiba’s chips partner which [...]
Gordon Brown warns next financial crisis could come from Asia September 28, 2017 Massive shadow bank lending to firms in Asian economies could be storing up the next global financial crisis, according to former Prime Minister Gordon Brown. Brown today warned economists may not be able to work out the extent and direction of liabilities if a credit crunch begins in Asia. A crisis could be fomented by [...]
£1bn Northern Line extension under threat as TfL fails to reach a deal with Battersea developers September 28, 2017 A critical part of Transport for London’s (TfL) £1bn extension to the Northern Line may remain mothballed until it can resolve a dispute over financing with Battersea Power Station’s developers, one of its chiefs said today. Stuart Harvey, TfL’s major projects director, told the London Assembly’s budget and performance committee that keeping Battersea Station closed [...]
Gold prices slip after US President Donald Trump unveils his tax plan September 28, 2017 Gold prices edged down today after a short-lived rise to around $1,314 earlier this week. The yellow metal lost its shine after Donald Trump yesterday proposed the biggest US tax overhaul in three decades. The US dollar rose following the President’s announcement, continuing a rally from a two-and-a-half-year low due to the belief that lower [...]
London house prices are still at risk of a bubble, according to this wealth manager September 28, 2017 London’s property market is still firmly in “bubble-risk” territory, one of the UK’s largest wealth managers has warned, as it ranked the capital’s housing market as one of the most vulnerable in Europe. Investors should take caution in the capital’s housing market, UBS Wealth Management said, as it published its Global Real Estate Bubble Index [...]
Wonga set for return to profitability after cutting ties with Newcastle United September 28, 2017 Payday lender Wonga today said it will return to profitability this year, boosted by walking away from a controversial sponsorship deal with Newcastle United. The privately-owned firm said it was coming out of a painful three-year turnaround and today revealed revenue growth of 18 per cent during 2016 and pre-tax losses had fallen to £64.9m. [...]