More lettings at the Cheesegrater as new TSB owner Banco Sabadell takes two floors May 29, 2015 British Land and Oxford Properties, the developers behind the Cheesegrater (aka Leadenhall Building), confirmed three new lettings across seven floors of the building – including new TSB owner Banco Sabadell. Among the new signings are insurance giant Brit, which has signed a 15 year lease to occupy 66,300 sq ft across five storeys – 16 [...]
UK directors tell Fifa backers to speak out after Visa sponsorship threatened following corruption charges May 28, 2015 Britain's bosses have piled more pressure on Fifa’s sponsors to end their support for the under-fire football governing body. In light of the latest scandal to engulf Sepp Blatter’s organisation, the Institute of Directors (IoD) called on sponsors and their shareholders to act, unless Fifa radically reforms its standards of governance. Visa has [...]
RBS joins Barclays in search for new corporate brokers May 28, 2015 Two of Britain’s biggest banks are both now searching for new corporate brokers, City A.M. understands, in a shake up of the sector’s relationships with the investing marketplace. UBS and Morgan Stanley are RBS’ current corporate brokers. UBS, it is understood, is highly unlikely to repitch for the role because of existing privatisation work it [...]
Equities slip as doubt lingers over Greek deal May 28, 2015 EUROPEAN and US shares slipped lower yesterday amid continued uncertainty over Greece’s debt problems. Equities had rallied earlier in the week on reports of provisional agreements between Greece and its creditors, but later dropped off when German finance minister Wolfgang Schaeuble said that not much progress had been made. In a last-ditch effort to receive [...]
S&P downgrades Vodafone as shareholders mull Liberty deal May 28, 2015 Telecoms group Vodafone has been downgraded by ratings agency Standard & Poors (S&P) which said the company is facing tough business conditions in key markets. The agency said obstacles to Vodafone include “strong sustained competition” and consolidation in the UK market that is likely to leave the firm in the number 3 position. In addition, [...]
FCA watchdog Martin Wheatley: I am not hunting for bankers’ scalps May 28, 2015 Top watchdog Martin Wheatley yesterday denied he wants to “put heads on sticks” or to go “scalp hunting” in his campaign to make banks and managers more accountable. In a firm defence of the plan to make bosses of failed banks prove they took reasonable steps to mitigate risks, the Financial Conduct Authority (FCA) chief [...]
Abercrombie & Fitch says sales improving with Hollister’s help May 28, 2015 Clothing retailer Abercrombie & Fitch said yesterday that its business is recovering, buoyed by the strong performance of its Hollister brand. Abercrombie shares rose nearly 12 per cent yesterday after the company reported that same-store sales fell eight per cent in the first quarter, less than the 8.7 per cent analysts had on average expected. Comparable [...]
B&M eyes more stores as sales jump by a third May 28, 2015 Bargain retail chain B&M has hiked its store expansion targets after reporting a near 30 per cent jump in revenue in its first year as a public company. The company, which sells everything from toys to electrical goods and furniture, yesterday said sales jumped 29.5 per cent to £1.6bn in the year to 28 March, [...]
Kingfisher kicks off B&Q store closures as quarterly profits rise May 28, 2015 Kingfisher, Europe’s biggest home improvement retailer, said it has found buyers for a quarter of its stores earmarked for closure as it posted a rise in first quarter retail profit yesterday. Kingfisher plans to close 60 B&Q stores over the next two years in a major overhaul of the business revealed by new chief [...]
Mortgage lending rises as buyers borrow more despite election worries May 28, 2015 Mortgage lending kept growing in April despite the uncertainty of the election hanging over the housing market, according to figures yesterday from the British Bankers’ Association (BBA). A total of 73,650 of mortgage loans were given out in the month, up from 72,074 in March. April’s loans were worth a total of £11.7bn, up from £11.5bn in [...]