Commercial property company insolvencies jump as banks call in loans January 4, 2016 The number of insolvent property investment companies has surged over the last year as banks took advantage rising commercial property values to claw back loans they have held onto since the crisis. The number of insolvencies, where a company can no longer pay its debts, rose by eight per cent to 346 in 2015 from 319 [...]
Trendit first firm to list on the London Stock Exchange in 2016 – and closed 10 per cent up despite China rout January 4, 2016 The first firm to list in London this year made a strong debut, shrugging off the China rout that sent stocks plummeting worldwide. Data analytics firm Trendit had the misfortune of listing on the London Stock Exchange on the FTSE’s worst opening day this century, but that didn’t stop it soaring over 10 per cent [...]
Dow Jones suffers worst start to the year since 2008 – as more than £38bn is wiped off FTSE 100 thanks to China volatility and Middle Eastern uncertainty January 4, 2016 Fears over China sent US stocks tumbling yesterday, with the Dow Jones Industrial Average down 467 points at its low for the day – headed for its worst first-day percentage drop since 1932. The index fell by 1.58 per cent to 17,149. The Nasdaq dropped 2.08 per cent and the S&P 500 lost 2.35 per cent, giving both [...]
Priory Group, famed for celebrity rehab clients, sold to US-based Acadia Healthcare Company January 4, 2016 US-based Acadia Healthcare Company today announced that it had agreed to buy Priory Group. The companies plan for the deal to consist of shares and cash, with Acadia trading £1.3bn in cash, including £925m to be used to repay outstanding debts, and 5.4m shares to acquire the UK healthcare company. Priory, which is known for [...]
Brookfield Property Partners buys Potsdamer Platz in central Berlin January 4, 2016 Canary Wharf and Center Parcs owner Brookfield Property Partners has bought a chunk of central Berlin in partnership with an Asian sovereign wealth fund for an undisclosed sum. The Canadian and US listed property giant announced the pair have completed a deal to buy Postdamer Platz, a busy junction at the heart of the city [...]
Grainger sells Retirement Solutions business to private equity firms Electra and Patron in £325m deal January 4, 2016 Residential landlord Grainger has sold off its equity release division to two private equity firms in a £325m deal, as it turns its attention to the private rental market. Patron Capital Partners, which owns housebuilder Cala Homes, and Electra Private Equity, have exchanged contracts to buy Grainger Retirement Solutions, a portfolio of over 3,600 homes [...]
RSA Insurance Group share price drops as it completes on sale of Italy business January 4, 2016 RSA Insurance Group revealed today that it had completed the sale of its business in Italy. RSA sold its Italian business to ITAS Mutua, which is headquartered in Italy and provides 1.2m policies, after receiving regulatory approval. The firm's share price tumbled after the news was announced, dropping 3.4 per cent to 412p shortly after the [...]
UK Oil and Gas receives consent to flow test at a well in Horse Hill January 4, 2016 "Gatwick Gusher" UK Oil and Gas (Ukog) today announced that the UK's Oil and Gas Authority has granted consent for an extended flow test over three separate zones at a well in the Horse Hill site. The Horse Hill 1 discovery well, drilled at the end of last year, is located on the northern side of the Weald Basin [...]
New report: Low oil prices, China slowdown to blame for “notable downswing” in London Stock Exchange AIM market January 4, 2016 A new report out today reveals that more than 50 companies de-listed from AIM last year, the largest net decrease for the London Stock Exchange’s growth market since 2012. Researchers from UHY Hacker Young, the accountancy group, said that the number of companies listed on AIM fell by 52 during 2015, a “notable downswing” compared [...]
Warm weather to cool Christmas sales at Marks & Spencer January 4, 2016 The mildest December on record combined with intense competition on the high street is expected to spell a gloomy end of the year for retailers, with Next and Marks & Spencer the first to unveil this week how they fared over the crucial Christmas period. The wet and mild weather, security fears in the aftermath of the [...]