Commercial property returns forecast to halve this year as slowing GDP growth and Brexit uncertainty bites April 7, 2016 Commercial property returns are forecast to halve this year, according to industry experts, as slowing GDP growth and Brexit uncertainty among other factors takes its toll on the market. Cluttons’ latest report on the outlook for the commercial property market predicts total returns will reach 6.5 per cent in 2016, which is less than half [...]
Dunelm’s share price jumps after bounce back in sales April 7, 2016 Dunelm shares rallied today after the out-of-town homeware giant posted a bounce back in sales in third quarter following a disappointing start to the year. The retailer grew sales by 5.9 per cent to £229m in the 13 weeks to 2 April, while like-for-like sales – including home delivery – increased by 1.1 per cent. That contrasted with the previous quarter, when Dunelm blamed the [...]
Roll up, roll up! Let’s play London office Monopoly April 7, 2016 Britain's looming EU referendum, the London mayoral election, the commercial stamp duty clampdown and other regulatory reforms as well as major infrastructure changes, such as Crossrail. These are just some of the factors that are making the dynamics influencing the London office market more complex than ever, according Bilfinger GVA. The real estate advisory firm has mocked up a Monopoly board [...]
London-listed Acacia Mining accused of “sophisticated tax evasion” in Tanzania April 7, 2016 London-listed gold miner Acacia Mining has been accused of engaging in "a sophisticated scheme of tax evasion" in the East African country of Tanzania where it operates. The tax revenue appeals tribunal accused the company of paying dividends to its shareholders worth $412.5m between 2010 and 2013, but evading 10 per cent withholding tax by declaring losses. The company, formerly [...]
Centamin share price jumps as it ramps up gold production April 7, 2016 Shares in London-listed Centamin sparkled today after the gold miner ramped up production at its flagship mine. Centamin shares rose as much as 7.1 per cent to 97p in late morning trade, giving the company a market capitalisation of £1.1bn. Centamin said production from the Sukari gold mine in Egypt rose by 6.5 per cent to 125,268 ounces [...]
Not your average kitchen: John Lewis launches smart home concept at Oxford Street flagship April 7, 2016 John Lewis has prepared for the day when homes will be crammed with Wallace and Gromit-style gadgets by launching an area dedicated to smart home technology in its Oxford Street flagship. The department store chain has today opened a 1,000 square feet space showcasing its most cutting edge range of futuristic inventions – from ovens that can controlled from your phone to smart [...]
Empiric Student Property strikes deal with University of Bath April 6, 2016 Empiric Student Property has reached an agreement with the University of Bath to provide its students with housing at three different sites. The listed student digs provider said 354 beds across five properties – including two still under construction – will be let to students at the university from September this year. The buildings comprise of [...]
Proptech: Accelerator Pi Labs moves out of Tech City to partner with housing start-up The Collective April 6, 2016 So much for the benefits of being based in Tech City. Pi Labs, property-focused tech accelerator aimed at helping start-ups become the next big thing, has decided to ditch east London altogether after announcing a deal with property firm The Collective that will take it to Bloomsbury instead. Pi Labs, set up two years ago by Cushman & Wakefield [...]
Drug makers pop after Pfizer deal sinks, taking FTSE 100 up for the day April 6, 2016 A last-hour surge saved the FTSE 100 from another unspectacular day, as the afternoon rally helped the blue chip index climb up 1.2 per cent to close the day on 6,161, and a surprise fall in US oil stocks put some energy into oil prices which also gained handsomely. It wasn’t quite a green sweep [...]
Premier Foods to meet with shareholders after holding “constructive talks” McCormick April 6, 2016 Premier Foods said it is to meet with shareholders this week after holding "constructive talks" with McCormick, as the Mr Kipling cakes owner seeks to convince its American suitor to sweeten its offer. The company, which has so far rebuffed three bid approaches from McCormick, has released a presentation ahead of its meeting with institutional [...]