EU referendum: Countrywide has issued a warning over “political and economic uncertainty” caused by Brexit April 26, 2016 Countrywide has warned that the housing market will slow this quarter, in the wake of "political and economic uncertainty" ahead of the country going to polls to vote on the EU referendum. The firm, which this morning revealed a surge in activity during the first three months of the year ahead of the government's stamp duty [...]
Profits collapse at oil giant BP, but shares rise as it avoids a loss in first quarter April 26, 2016 Profits at BP fell by 79 per cent in the first quarter of the year, as the oil major's cost-cutting drive helped it beat analysts' expectations and maintain its dividend payout. BP's share price rose 4.5 per cent today to 376p this morning as investors were relieved that it stayed in the black. The oil giant said it would carry [...]
Henley Camland strikes major deal with Land Securities for part of the Ebbsfleet Eastern Quarry garden city April 26, 2016 Private equity firm Henley has bought a major component of the Ebbsfleet scheme, one of the UK's largest residential schemes, from Land Securities. Fresh from selling more than 500 plots to Taylor Wimpey yesterday, Land Securities has today revealed another deal, selling two "village" sites at the Eastern Quarry, which have capacity for around 4,700 homes, [...]
No tears for Boohoo as profits and revenues soar April 26, 2016 Boohoo has reported a surge in profits and revenues for the full year as the fashion etailer woos even more customers worldwide. But clearly investors were hoping for more – Boohoo's share price fell 3.7 per cent on the open. The figures Revenues were up 40 per cent in the year to 29 February, climbing to [...]
BHS administration “more significant than Woolworth’s” as cost to taxpayer stacks up April 26, 2016 The collapse of BHS could be "more significant than Woolworths" – and the business is unlikely to survive in any meaningful form, experts have told City A.M. Parent company Retail Acquisitions called in administrators Duff & Phelps yesterday afternoon, a year after buying the debt-laden business from Sir Philip Green for £1. Managing directors Phil [...]
Meetings take up two years of our lives and are a complete waste of time, according to new research April 26, 2016 From business jargon to having to talk to your colleagues, the great British public hates pretty much everything about being employed. Now, even the traditional business meeting is coming under fire, as new research finds the average worker spends years attending them. Office workers in the UK are spending increasing amounts of time preparing for, and [...]
City Moves for 26 March 2016 | Who’s switching jobs April 26, 2016 Alpha FMC Asset and wealth management consultant Alpha FMC has appointed Andrew Glessing as director and head of its new dedicated compliance practice which will initially comprise nine consultants. Andrew has more than 25 years’ experience in financial services and compliance consulting. He spent seven years as manager at the Financial Conduct Authority where he [...]
Average weekly disposable income climbed in March, according to Asda’s income tracker April 26, 2016 The average weekly disposable income climbed to £198 per UK household in March according to Asda’s latest income tracker. Families were £12 better off year-on-year. This means that annual growth in spending power has remained above £10 for 17 consecutive months. London saw spending power rise slightly, up £14 on the same period last year. [...]
People would leave big cities if they knew their professional life wouldn’t suffer for it, but poor connectivity leaves many dreams of countryside living unrealised April 26, 2016 Many workers would gladly swap city streets for a breath of countryside air if they weren't so concerned about their job prospects, a study out today has found. The research by Citrix, seen exclusively by City A.M., found that over half (54 per cent) of the 1,243 workers they surveyed would move to a more rural [...]
Pressure mounts on BHS top dogs as MPs call for Sir Philip Green to be held accountable over department store’s collapse April 25, 2016 Pressure was mounting on Sir Philip Green last night after MPs called for the former BHS owner to be held to account over yesterday’s collapse of the 88-year-old high street chain, which he sold for just £1 last year after 15 years’ ownership. BHS’ failure, which puts 10,000 jobs at risk, is also being investigated by [...]