Rents across the UK rose by 10 per cent in 2013 February 23, 2014 RENTS in the UK have risen by nearly a tenth in the past 12 months to more than £750 per month, according to new research from a lettings agent. But London rents rose less steeply, climbing just one per cent over the past year – although the average rent in the capital remains nearly twice [...]
Taxman cracks down on builders February 23, 2014 Construction firms coughed up £122m in extra tax to Her Majesty’s Revenue & Customs (HMRC) during the last year, according to accounting services group NoPalaver. The figure is a 55 per cent increase on the previous year, when only £78.9m was taken in extra tax. The charges are levied through the construction industry scheme, which [...]
Soros keen to invest in Europe February 23, 2014 Billionaire investor George Soros wants to invest in Europe’s financial sector, according to a German magazine interview yesterday. “I believe in the euro,” weekly Der Spiegel quoted him as saying. “Therefore my investment team is looking forward to make a lot of money soon in Europe by, for example, pumping money in banks which urgently [...]
Metro Bank: First London – next, the rest of the UK February 23, 2014 Metro Bank’s chairman and founder tells Tim Wallace he wants to take the Southern-focused lender out to a national audience IT HAS shaken up London’s retail banking scene, with bright new branches on busy high streets, and a bold American-style service ethos. But although Metro Bank startled the market as Britain’s first lender in more [...]
G20 members giggle at blushing George’s walk of shame in Sydney February 23, 2014 JET-LAGGING behind George? The chancellor rocked up late to the G20 finance ministers and central bank governors official photo in Sydney at the weekend, prompting a round of applause from fellow dignitaries (including Mark Carney) and big grins as he walked past to take his place at the back.
Three things you didn’t know about… February 23, 2014 Head of M&A and corporate finance at Osborne Clarke Ray Berg 1 He’s a self-confessed “secret clubber” and has an apartment in Ibiza. One of the last gigs he went to was Fatboy Slim’s Eat Sleep Rave Repeat tour at XOYO in Shoreditch. 2 Although he’s a keen Spurs fan, his favourite thing about London [...]
Investors took $1 trillion in 2013 payout bonanza February 23, 2014 GLOBAL payouts to investors topped a record $1 trillion (£602bn) last year, after resilient corporate balance sheets helped grow dividend payments by $310bn since 2009, fresh data out today shows. Total dividend payments rose to $1.03 trillion in 2013, up 43 per cent from $717.2bn in 2009, when equity markets fell to their lowest level [...]
City Moves for 24 February 2014 | Who’s switching jobs February 23, 2014 Northern Trust The asset management business has made two appointments. John Elder (right) joins as a senior investment adviser for multi-manager solutions. He has previously worked at Mellon Family Office Services and Ernst & Young. Jonathan Lidster joins as a senior wealth strategist. He was formerly chief operating officer at Global Partnership Family Offices. Barclays [...]
Best of the Brokers for 24 February 2014 February 23, 2014 To appear in Best of the Brokers, email your research to notes@cityam.com BRITISH AMERICAN TOBACCO Panmure Gordon tells investors in the tobacco firm to “hold” shares and has nudged its target down to 3,225p ahead of full-year results on Thursday. The broker thinks the pace of black market growth is slowing and the firm can [...]
London Report: Insurance firms start a deluge of UK earnings February 23, 2014 A BUMPER week for UK earnings kicks off today with results from Hiscox, one of the big home insurers reporting full-year figures. Figures from Hiscox, RSA and Direct Line could give more detailed estimates of losses for UK industry and themselves after recent flooding and storms. Aviva and L&G are also set to give end [...]