UK house prices: Prime central London rents are polarising between east and west, says Knight Frank April 6, 2016 London's prime rental market is becoming more polarised. Prices in the east are accelerating faster than those in the west as financial services tenants move closer to the City in search of cheaper rents, new research shows. Annual rental value growth in prime central London fell by one per cent in March – the lowest rate since May 2014, according to [...]
Petroceltic share price dives as Worldview appears set to win long-running feud April 6, 2016 Activist investor Worldview Capital appears to have won its long-running feud with Irish oil explorer Petroceltic. Worldview, Petroceltic's largest shareholder with 29.6 percent, has made repeated overtures over the last 18 months for changes to the board and the strategic direction of the group. Read more: Petroceltic and Worldview lock horns again and urge shareholders to [...]
Moody’s: This chart shows European banks’ energy exposure April 6, 2016 Credit ratings agency Moody's has said that European banks' energy exposure is "manageable" despite low commodity prices. But it added that some cases could require additional provisions if oil prices remain "low for longer". Brent crude has fallen from over $110 per barrel in June 2014 to around $40 today. This has heaped pressure on to [...]
MartinCo plays down fears of buy-to-let slowdown as profits jump April 5, 2016 Shares in MartinCo rose by nearly four per cent today after the franchised lettings agency group said demand from a growing nation of renters helped to boost full-year sales and profits. The Aim-listed company, which has 287 offices operating under five brands including Martin & Co, Xperience, and Parkers, said group revenue increased by 38 per cent to £7.1m in 2015 compared [...]
Stock Spirits faces shareholder showdown as top investor calls for chief executive to quit April 5, 2016 Stock Spirits Group is facing showdown with shareholders after one of its biggest investors called for the vodka maker to oust its chief executive and nominated two non-executive directors to help turn around its core Polish business. Western Gate Private Investments, which has a 9.7 per cent stake in Stock Spirits, represents the private family [...]
Moss Bros’ share price jumps as suit-seller says it’s scrubbing up well April 5, 2016 Shares in suit hire specialist and retailer Moss Bros rose by as much as eight per cent in early trading after a revamp of its stores and a sharper range of products helped deliver a 23 per cent increase in profits. Like-for-like sales rose by 8.2 per cent to £119m for the 52 weeks to 31 [...]
Koovs’ share prices leaps by a third after sales at Indian online retailer beat forecasts April 5, 2016 Koovs' share price leapt this morning after the Indian-focused online retailer said sales almost tripled last year to hit £10m for the first time. The company, which was founded four years ago by former Asos chairman Lord Waheed Alli, said sales jumped by 189 per cent to 981m Indian rupee (£10m) in the year to 31 March. Visitors to [...]
Ex-Shell boss says time “ripe” for oil majors to eye alternative energy April 5, 2016 The former boss of Royal Dutch Shell believes that the time is ripe for oil majors to invest in alternative energies. Speaking in an exclusive interview with the World Energy Council's monthly magazine, Jeroen van der Veer, who headed Shell between 2004 and 2009, said: "I think we were too early once or twice [in the [...]
Developers behind 22 Bishopsgate skyscraper win “rights to light” battle April 5, 2016 The developers behind City skyscraper 22 Bishopsgate have won a controversial battle with neighbouring landlords over the scheme blocking their "rights to light" after City planners used special powers to override opposition. Members of the City of London Corporation Planning & Transportation committee this morning voted overwhelmingly in favour of temporarily acquiring the site under a Section 237 agreement, so [...]
Van “explosion” and fire closes Cornhill in the City April 5, 2016 Firefighters were rushed into the City this morning after an engine in a passing van caught fire at Cornhill. Roads leading to Cornhill were closed in both directions to pedestrians and traffic as the London Fire Brigade were called in to deal with the engine fire. We've dealt with a van fire on Cornhill in the [...]