The total value of all the property in the world is $217 trillion – 2.7 times the world’s GDP January 25, 2016 Add up all the property in the entire world, and you get $217 trillion (£152.2 trillion) of assets, a new report has suggested – that's 2.7 times the world's GDP. "To give this figure context, the total value of all the gold ever mined is approximately $6 trillion, which pales in comparison to the total value of [...]
UK house prices: This is how luxury property owners are selling their homes quicker January 25, 2016 Making a fresh batch of coffee and croissants isn't enough to convince people to part with their cash for your property anymore – at least not if you're in the top end of the market. As the super-prime market starts to cool, luxury home-owners are increasingly looking to "home styling" in order to secure the asking [...]
Electra Private Equity forced to shake up its strategy now activist investor Edward Bramson is on the board January 25, 2016 The board of Electra Private Equity has announced it is reviewing its investment strategy just a few months after activist investor Edward Bramson joined the board. Bramson was finally voted on to the Electra board in November with 53.5 per cent of shareholders voting in favour, along with Ian Brindle, former PwC boss and a [...]
Kingfisher’s share price dips as it reveals new strategy to target £500m annual profit uplift January 25, 2016 KIingfisher led the FTSE lower this morning as investors digested the DIY giant's new five year strategy – and the costs it will incur. Kingfisher, whose share price dropped as low 4.5 per cent in early trading, is hoping to return an additional £600m to shareholders over the next three years, with a plan to deliver a [...]
Falling demand for diamonds and the weak South African rand weigh on Petra Diamonds’ revenues January 25, 2016 Petra Diamonds, the FTSE listed miner, announced revenues for the last six months fell 28 per cent, as a result of falling diamond prices, and a weak South African rand. The figures Revenue fell 28 per cent to $154m (£108m) in the six months ending December, down from $214.8m the year before. This includes the $10.5m sale of a 23.16 [...]
JKX Oil & Gas blocks shareholders Eclairs and Glengary from vote over Proxima bid January 25, 2016 JKX Oil & Gas has blocked two of its biggest shareholders from attending or voting at a general meeting this week, at which the board risks being ejected. Eclairs Group and Glengary Overseas – who own 27.5 per cent and 11.4 per cent respectively – have been banned from taking part in the meeting on Thursday, [...]
Adidas ends sponsorship with IAAF four years early as doping scandal continues to dog athletics January 25, 2016 Adidas is pulling out of its sponsorship of athletics' world governing body IAAF four years before the contract was due to expire, as the doping scandal continues to dog the sport. The BBC reports that the sportswear giant told the IAAF of its plans – which will result in millions of dollars in lost income – earlier [...]
Oil sector’s quick fix cost-cuts will be a big mistake – DNV GL January 25, 2016 The oil and gas industry is repeating the mistakes of previous downturns by resorting to short-term cost-cutting measures, according to a new report. 56 per cent of senior oil and gas professionals surveyed by technical advisor DNV GL think the industry is going the wrong away about addressing falling profits in a sustained period of [...]
Calls for sharing economy to be counted in official ONS figures January 25, 2016 Official measures of UK productivity and economic growth are failing to take into account the contribution of the sharing economy, according to a new report calling for a radical overhaul of statistics. The report, authored by economist Diane Coyle in conjunction with Sharing Economy UK (SEUK) and Airbnb, says a lack of measurement of the growing sector, epitomised by [...]
Astbury Marsden warns City workers face bonus shock this year January 25, 2016 City workers are anticipating bumper bonuses this season, but recruitment experts have warned that they could be in for disappointment. Two thirds of employees are expecting a hefty bonus payout, according to a survey published by Astbury Marsden this morning. Yet the job specialist’s MD, Adam Jackson, added: “This optimism is being severely tested. The current [...]