Brand Index: Britons remain sceptical about the economic recovery January 28, 2014 AFTER the longest recession on record, Britain is back. Last year the economy grew by 1.9 per cent, its fastest pace since 2007, and the IMF projects growth of 2.4 per cent this year – making us Europe’s fastest-growing major economy. But do these robust figures tell the whole story? Last week, we convened an [...]
North Sea oil drilling is drying up January 28, 2014 EXPLORATION and appraisal drilling in the UK North Sea fell by 28 per cent last year, a report out today showed, reigniting calls for more state support. Only 47 exploration and appraisal wells were drilled in 2013, compared with 65 in 2012, said the research by Deloitte. During the same period, the Norwegian Continental Shelf [...]
New Edinburgh manager after Woodford exit January 28, 2014 DISTINGUISHED fund manager Neil Woodford will officially be replaced as lead portfolio manager at Edinburgh Investment Trust (EIT) by Invesco Perpetual’s Mark Barnett. Woodford’s departure from the trust was announced in October last year, but his replacement was only revealed yesterday, after a decision by the board to retain Invesco’s management. Shares in the trust [...]
Saving harder for Londoners January 28, 2014 LONDONERS save a smaller share of their salary than any other region in the UK, a Halifax report showed today, as high housing costs and other bills eat away at their relatively high salaries. Monthly earnings come in at an average of £3,656 in the capital, 32 per cent higher than the UK average. But [...]
New tenant for British Land’s Cheesegrater January 28, 2014 BRITISH Land said yesterday it has secured another tenant at the Cheesegrater skyscraper as the property giant reported growing demand for London office space. Australian serviced office provider Servcorp has signed a deal to take the whole of the 30th floor of British Land and Oxford Properties’ development on Leadenhall Street, which is due to [...]
Analyst Views: Did British Land perform in line with your expectations? January 28, 2014 JOHN CAHILL | ORIEL SECURITIES Good performance over the third quarter, with rents on new lettings and renewals improving in both London and the regions. Development completions are due into favourable market conditions, and with a dividend yield ahead of peers, British Land remains our preferred large exposure to the London market. BART GYSENS | [...]
Crest Nicholson profits jump in first results since market return January 28, 2014 GOVERNMENT measures to boost the housing market helped Crest Nicholson deliver a 40 per cent rise in profits yesterday, in its first set of results since returning to the stock market last year. The housebuilder said profits rose to £86.8m in the year to 31 October, up from £62.1m the previous year. The rise prompted [...]
Sentance’s book launch pulls in the City’s musos January 28, 2014 WHEN Andrew Sentance organised his book launch he had no idea it would fall on the same day as the GDP figures were released. Cue a lot of running around as the economist juggled appearing on Sky, the BBC, writing a column for City A.M. (see page 19) and dashing to present his book, “Rediscovering [...]
Fancy a gin? Recreate a frost fair January 28, 2014 IMAGINE a hedonistic festival on the Thames replete with pop-ups selling artisanal gin cocktails and tasty food. It wouldn’t be out of place in 2014, but it’s what used to happen on the river when it froze 200 years ago. Frost fairs were raucous affairs, during which ship sails were turned into makeshift tents selling, [...]
London to get green car-sharing after charging station handover January 28, 2014 THE FRENCH company taking over London’s network of electric car charging stations will this week start talks to install new chargers and eventually launch a car-sharing scheme similar to Autolib’ in Paris. IER, a subsidiary of the Bollore conglomerate, will discuss with London’s boroughs its ambitions for electric cars in the city as it prepares [...]