Singaporean wealth fund GIC backs property revival in UK regions October 15, 2015 Singaporean sovereign wealth fund GIC has thrown its weight behind a private equity firm that invests in the UK’s regional property market. Maya Capital said it has secured a £90m loan from GIC to help fund acquisitions in areas outside London and the M25 that have enjoyed a resurgence in activity thanks to the improvement economy [...]
Repsol share price tumbles as Spanish firm reveals plans for £4.6bn asset sale October 15, 2015 Repsol's plan to sell €6.2bn (£4.6bn) of assets to reduce its unwieldy debt pile and keep investors happy was met with scepticism by the industry today, with questions over the viability of the oil giant's strategy. The Spanish firm's shares saw a turbulent day of trading, plunging over four per cent in the afternoon after a [...]
Battle of the banks: did Bank of America, JP Morgan, Citi or Goldman Sachs do better? October 15, 2015 Goldman Sachs, Citigroup and Blackstone, the world's largest alternative asset manager, were the latest Wall Street giants to report their earnings had been hit as the markets have taken a tumble. Blackstone made a first loss for the first time since 2011. While Goldman saw trading revenue fall by a third. "We experienced lower levels [...]
The City of London launches plan to build 3,700 new homes October 15, 2015 The City of London Corporation has fired the starting gun on its biggest housebuilding spree in 40 years after committing to building 3,700 new homes by 2025. The City has traditionally been opposed to promoting residential development within its boundaries as it protects its status as the capital’s financial centre. It is also one of the [...]
Argos signs drop-off and delivery deal with eBay October 15, 2015 Argos has joined forces with eBay to allow sellers on the online marketplace to drop off their parcels at the retailer’s stores and have them delivered within 48 hours. By the end of the year, eBay’s 200,000 sellers will be able to drop off sold products at 150 stores across the country, with more sites [...]
German government orders Volkswagen to recall 2.5 million cars affected by emissions scandal October 15, 2015 Germany's transport ministry has ordered Volkswagen to recall 2.4m vehicles with "defeat devices" over the next year, raising questions over how many cars will be recalled in the UK. The car giant said around 1.2m cars in the UK have been affected by the scandal, adding that customers will be contacted about bringing their vehicles in to be refitted. Some [...]
Console owners help drive profit jump at Game Digital October 15, 2015 GAME Digital said a rapidly growing population of Xbox One and PlayStation 4 console owners helped the video games retailer post forecast beating full-year profits. Demand for the latest generation of consoles has cooled and their average selling price has dropped since their initial launch two years ago. But a strong performance in accessories, new [...]
New dystopian app Peeple lets you rate anyone – and anyone rate you October 15, 2015 It was only a matter of time: You can already rate your hotels, restaurants, doctors, teachers and who knows what else online. The new app Peeple has taken this quantifying trend to its dystopian logical conclusion, by building a platform where you can rate and review anyone you like – and anyone can rate you. [...]
Now Mercedes-Benz has launched its own London luxury apartments October 15, 2015 Now you can experience the feeling of being in the driving seat of a Mercedes-Benz without even stepping foot outside a front door. The carmaker is manoeuvring an unusual left-field turn into the luxury property business with a new concept of Mercedes designed serviced apartments in London. In a collaboration with Singaporean luxury serviced apartments firm Frasers Hospitality, six apartments measuring between 50 [...]
Will Square’s IPO be a success with chief executive Dorsey distracted by Twitter? October 15, 2015 Another day, another IPO – this time it's Square, the mobile payments company founded after Jack Dorsey was forced to leave Twitter, which has ended months of speculation by officially filing with the Securities and Exchange Commission to go public. Square is looking to raise $275m (£177m) from the IPO. In its filing, Square, which [...]