Damelin now Wonga chair in board reshuffle November 12, 2013 WONGA founder Errol Damelin became chairman of the online payday lender yesterday, moving up from his position as chief executive. He said the move will let him focus on the long-term direction of the firm, rather than the day to day management of the business. Damelin will be replaced as chief executive by Niall Wass, [...]
London-based ratings agency to compete against big three November 12, 2013 A NEW credit rating agency, billed as a challenger to the biggest three groups, is set to launch in London next week. Five existing agencies have set out to break into the global market, which is currently dominated by Moody’s, Standard & Poor’s, and Fitch Group. Brazil’s SR Rating, Malaysia’s MARC, India’s CARE, South Africa’s [...]
Walkie Scorchie owner says ray is almost fixed November 12, 2013 LAND Securities’ chief executive said yesterday that the developer is close to fixing problems with the Walkie Talkie and that the skyscraper’s ultra-bright reflective rays had not put off potential tenants. The building, a joint venture with Canary Wharf Group, was dubbed the Walkie Scorchie after it began reflecting a beam of light this summer [...]
Analyst Views: Did Land Securities’ half year results leave you with a warm glow? November 12, 2013 KEITH CRAWFORD | PEEL HUNTThe results are satisfactory, with a first half total shareholder return of 5.4 per cent which will probably stretch to around 11 per cent for the full year. We are advancing our net asset value estimate to March 2014 by 37p, up four per cent against our prior estimate. ALISON WATSON [...]
Bottom Line: Hold on for a dividend – and maybe more November 12, 2013 WITH a bumper £16.6bn dividend coming their way next year, Vodafone investors are unlikely to be going anywhere fast – even after a disappointing set of results that saw organic service revenues drop by 4.9 per cent in the second quarter. The payout gives CEO Vittorio Colao a bit of legroom to dispense of some [...]
Just Retirement shares get off to sluggish start November 12, 2013 SHARES in Just Retirement, the annuity and equity release provider majority owned by private equity group Permira, traded at slightly below issue price yesterday as the market drew comparisons with rival Partnership. Partnership, which floated in June, saw its shares soar to a hefty premium after joining the public markets only to see sentiment turn [...]
John Lewis to open at Westfield London November 12, 2013 JOHN Lewis confirmed plans yesterday to open a new store in Shepherd Bush’ s Westfield shopping mall. The new John Lewis, the partnership’s fifth in London, will anchor the 600,000 square feet extension planned for Westfield London, due to open in 2017.
Santander fears tough leverage rules could make banks riskier November 12, 2013 THE TOUGHER cap on leverage favoured by politicians could make banks riskier, not safer as intended, Santander’s UK retail boss warned yesterday. A group of MPs and peers has been pushing for a four per cent leverage cap, a tighter limit than the three per cent currently in place. Lenders like Nationwide, which specialises in mortgages, [...]
New Look chief says IPO at least 12 months away November 12, 2013 NEW LOOK chief executive Anders Kristiansen yesterday poured cold water on rumours that the group was planning a return to market, stating that an initial public offering could be at least a year away. The last months have seen a wave of public listing including Bargain Booze owner Conviviality Retail, with retailers Bonmarche and Poundland [...]
Heathrow’s Terminal 2 to get a taste of Blumenthal’s cooking November 12, 2013 BRITAIN’S best rated chef Heston Blumenthal will open a new restaurant at Heathrow’s Terminal 2 next June, serving up dishes like fish and chips, Heathrow said yesterday. The outlet will open in the new £2.5bn terminal, dubbed The Queen’s Terminal, and follows on from Heathrow’s last major renovation Terminal 5. “We spent hours researching the [...]