FTSE clings on to 2016 high, despite poor results from Burberry and Persimmon April 14, 2016 It went down, then up, then did it all again, but the FTSE 100 managed to cling on to its 2016 high day in a confusing day of trading, closing at 6,363 – up 0.01 per cent. Despite the tiny move higher, the biggest stories came from the losers. Housebuilder Persimmon was on shaky foundations at its [...]
This underground arts venue has just opened inside Brunel’s Thames Tunnel entrance – 190 years after it was first built April 14, 2016 An historic underground shaft in south east London that once served as the entrance to the world's first underwater tunnel has been reopened as an arts and music performance venue. The Thames Tunnel – designed by engineers Marc Brunel and his son Isambard Kingdom – is considered one of the greatest feats of 19th century engineering and also paved [...]
IPO market in Europe, Middle East and Africa set for growth in April after worst start to year since 2009 April 14, 2016 The initial public offering (IPO) market is set for growth this month after enduring its slowest start to the year since 2009. An additional 15 deals valued at $1.1bn (£776m) are expected to be priced by the end of April across Europe, the Middle East and Africa (EMEA), according to Dealogic. This would take the total [...]
Legal & General bolsters £250m build to rent pipeline after buying Salford scheme April 14, 2016 Insurance giant Legal & General Capital and its joint venture partner, Dutch pension fund manager PGGM, have announced plans to build more rental properties in Greater Manchester, boosting its pipeline of build to rent homes to 800 across the UK. The two companies joined forces in January to launch a £600m fund to build large-scale private rental housing across the [...]
BATS Global Markets IPO set to be valued at $250m, making it US’s biggest offering deal of 2016 so far April 14, 2016 BATS Global Markets, a US-headquartered stock exchange operator, is set to go public tomorrow. The company's initial public offering (IPO) is expected to be valued at around $250m (£176.5m), making it the biggest US deal of the year so far. Read more: IPO K.O.: Global volume of deals plunges to seven-year low The firm is offering [...]
BP shareholders reject chief exec’s £14m pay package April 14, 2016 BP shareholders have voted to reject chief executive Bob Dudley's 20 per cent pay rise at its general meeting today. Shareholder ire had been stoked because the proposed payout comes against a backdrop of shrinking profit margins and thousands of job cuts at the oil giant. However, today's vote is "advisory", meaning even a vote against will [...]
Boris Johnson delays public hearing over £800m Bishopsgate Goods Yard development after opposition to plans April 14, 2016 Boris Johnson has delayed a decision over £800m plans for a towering high-rise scheme in London's East End, which opponents have warned would "destroy the heart of Shoreditch". The Bishopsgate Goods Yard site, a joint venture between Hammerson and Ballymore, has faced fierce opposition from Hackney Council and campaign groups including More Light More Power on the grounds that [...]
IEA: Oil oversupply will finally start drying up in the second half of 2016 April 14, 2016 The embattled oil market will start to rebalance in the second half of this year, as Opec's grand master plan to price out US shale gas producers starts to bear fruit. The International Energy Agency expects that the surplus will fall to 0.2m barrels per day (bpd) in the second half of this year, down from 1.5m [...]
UK house prices: Mortgage lending enjoys best first quarter in nine years despite March dip April 14, 2016 Mortgage lending enjoyed its best first quarter in nine years thanks to buy-to-let landlords rushing to beat April's stamp duty hike, according to new figures published this morning. An average of 71,710 house purchase loans were approved in the first three months of the year, the data from surveyors e.surv shows – making it the highest opening [...]
House prices: London’s first time buyers will need £106,000 salary to afford an average home by 2020, warns Shelter April 14, 2016 Londoners looking to buy their first home will need to earn over £100,000 a year by 2020, research by housing and homelessness charity Shelter has found. The study said this was an increase over the quarter on the £80,000 needed for a typical first time buyer’s mortgage today. On top of this, first-time buyers will also need an [...]