Property mogul Vincent Tchenguiz wants to sell his portfolio of Hilton hotels for £600m, Savills and JLL have been appointed as advisers July 5, 2017 Vincent Tchenguiz is looking to sell a portfolio of 10 Hilton-branded hotels for £600m. “We’ve had these hotels for nearly 15 years and I think now is a good opportunity to sell them,” the property mogul told City A.M. Tchenguiz confirmed he is looking to sell the 603-bedroom Kensington Hilton individually for £300m. However, he [...]
UK tech shrugged off Brexit with record VC investment in the first half of 2017 July 5, 2017 The UK’s high-flying tech sector has shrugged of the fallout from Brexit notching up a record level of investment in the first half of the year. And London retained its tech crown ahead of rival cities in Europe, fresh figures from London & Partners and Pitchbook reveal. In the first six months of the year, [...]
Three-quarters of millennial graduates will never pay off their student loan July 5, 2017 Millennials want mobile-friendly banking and fixed rate mortgages, but many are overwhelmed with student debt, as a slew of new reports out today has shed light on the finances of the UK’s young people. Three quarters of graduates since 2011 will never pay off their full student loan, while high earners can expect to pay [...]
LGA: Skills gap to cost UK £90bn as Brexit piles on jobs pressure July 5, 2017 The UK’s skill gap could cost the UK’s economy £90bn a year by 2024, new research suggests. There will be 21.8m people chasing low and intermediate-skilled jobs by the middle of next decade – a surplus of 8.1m – while there will be 4.2m highly skilled jobs that cannot be filled by the right candidate, [...]
Southern rail: Transport secretary accuses Labour of stoking up unrest on the railways July 4, 2017 Transport secretary Chris Grayling has accused senior Labour figures of stirring up unrest at Southern rail and encouraging further industrial action on the beleaguered network. Speaking at a House of Commons debate yesterday to discuss the publication of a report into the train operator’s performance by Chris Gibb, a non-executive director at Network Rail, Grayling [...]
Gold sentiment fell in June as investors cut holdings for the third month on price volatility and record high stock markets July 4, 2017 Gold sentiment among Western investors fell from May’s five-month high last month as global stock markets set new records. Investors on BullionVault, the biggest online market for physical precious metals, cut their total gold holdings for the third consecutive month in June. New interest in the safe-haven asset also remained weak. The number of new [...]
Here’s some cybersecurity advice if you don’t wanna cry July 4, 2017 Last week, barely a month since the WannaCry attack, companies around the world were struck by another major ransomware cyber attack. With two similar looking, large-scale incidents occurring within such a short window, companies are naturally anxious to know how they can protect themselves against the next – inevitable – attack. It’s all about the [...]
Digital challenger bank for small business, Tide, has landed $14m from fintech investors and an early Spotify backer July 4, 2017 Another of the new crop of digital challenger banks has landed fresh funding as investors continue to flock to fintech. Tide, aimed at small businesses and letting them open a current account using just their iPhone within five minutes, has raised $14m (£11m) in a series A round from new and existing investors. Anthemis led [...]
Lloyd’s of London deputy chair Robert Childs: Brexit won’t threaten London’s prized insurance status July 3, 2017 Brexit will not threaten London’s prized global insurance crown, the new deputy chair of Lloyd’s said today. Hiscox chairman Robert Childs was unveiled this morning as the replacement for Paul Jardine, taking up the position immediately. Speaking to City A.M. he downplayed the impact of Britain’s exit from the EU, saying it will have a [...]
Carlsberg acquires craft beer maker London Fields Brewery July 3, 2017 Another indie craft beer brewery is set to be taken over by a giant of the industry, as Carlsberg UK acquires hip Hackney-based London Fields Brewery. Read more: Carlsberg’s £15m rebrand is a last-ditch effort to save lager The deal will be a joint venture between Carlsberg and Brooklyn Brewery, for which Carlsberg is the [...]