London’s historic India Club saved as Westminster council halts Strand development plans | City A.M. August 1, 2018 The Strand’s iconic India Club has been spared destruction by Westminster city council after an application for redevelopment was denied last night. Plans to revamp one of London’s most established Indian restaurants were refused on the grounds of its cultural and historical importance. Marston Properties, the freeholders who had hoped to create a more modern [...]
Co-op Group looks to sell off insurance division for £300m | City A.M. August 1, 2018 The Co-op Group is looking into selling off its general insurance operations for a sum of around £300m. Investment bankers from Fenchurch Advisory Partners have been brought in to advise the company on potential options for its insurance business. The Co-op division, which made £11m in underlying profit last year, has started to approach potential [...]
City of London office take-up rises after landmark Square Mile deals such as Chinese embassy move | City A.M. August 1, 2018 Take-up of offices in the Square Mile jumped 10 per cent over the last year, as demand for City of London commercial space shows no sign of slowing down. In the 12 months to June roughly 3.5m square feet was taken up in London’s financial district, rising 31 per cent higher than the 10-year average [...]
Can Apple win the trillion-dollar race today? | City A.M. August 1, 2018 After a bumper set of results last night, Apple is riding on a high that could take it all the way to a trillion-dollar market valuation. Apple’s share price has leaped up to 4.11 per cent in pre-market trading, at a value of $198.11 (£151) per share. If it’s to break the trillion-dollar mark, Apple [...]
HIKE: The shadow MPC says it is time for the Bank of England to raise interest rates | City A.M. August 1, 2018 The Bank of England is widely expected to hike interest rates tomorrow after delaying a move in May in light of a modest growth rebound and a tight labour market. City A.M.’s shadow monetary policy committee (MPC) believes the time is right on balance, although with a split between economists which is likely to be [...]
Nationwide House Price Index ticks up – but economists urge caution | City A.M. August 1, 2018 Annual house price growth has climbed ahead of a possible rate rise this month, according to the Nationwide House Price Index. Prices in July rose by an average of 2.5 per cent, up from two per cent in June. It comes just a day before the Bank of England’s monetary policy committee (MPC) meets to [...]
City of London cuts Brexit job loss estimate | City A.M. August 1, 2018 The City will lose as few as 5,000 jobs because of Brexit – far lower than originally feared – according to an estimate by the City of London Corporation due to be released in September. The internal report, shared ahead of time with politics specialist Politico, suggest the City of London Corporation has rowed back [...]
The taxman should go easy on people who take advantage of pension freedoms | City A.M. August 1, 2018 Britain’s demographic timebomb threatens to send the national debt soaring in coming decades, as an ageing population takes its toll on our fiscal health. Even now, with government under pressure to pledge billions of extra pounds for the NHS, the Treasury is in desperate need of finding a few extra bucks. Thus there was some [...]
Apple smashes expectations in third quarter results | City A.M. July 31, 2018 Apple beat Wall Street expectations for its third quarter (Q3) results tonight, delivering revenue of more than $53bn (£40.4bn). Its revenue for the quarter was $53.3bn and its profit was $2.34 per share, outstripping predictions of $52.3bn and $2.18 per share. A higher average selling price for its iPhone helped to drive the impressive numbers. [...]
What are the European Championships 2018? New competitions includes athletics, cycling, gymnastics, swimming, diving, rowing, triathlon and golf | City A.M. July 31, 2018 You could be forgiven for not knowing it, but a major new international multi-sport event featuring some of the stars of the Olympics gets underway in the UK this week. It’s called the European Championships – a title that sums it up accurately while offering few clues as to what it actually is. The European [...]