Barclay brothers mull £800m sale of The Ritz Hotel October 10, 2019 David and Frederick Barclay, the billionaire brothers that own The Ritz, are reportedly mulling an £800m sale of the five-star Mayfair hotel. The twin brothers, who also own The Telegraph newspaper and Spectator magazine, bought the Grade-II listed building for £75m in 1995. Read more: Profits plunge at Barclay brothers’ Ritz hotel Richard Faber, Frederick [...]
Philip Hammond: Post-Brexit trade deals have ‘very limited economic value’ October 10, 2019 Philip Hammond has taken a swipe and Brexit supporters’ hopes of striking free-trade deals around the globe after leaving the EU because they have “very limited” economic value. The former chancellor said there is no “simple solution” to Brexit, and called a no-deal scenario an act of “self-harm”. Read more: Bercow discussed Brexit plans with [...]
London house prices suffer steepest fall since financial crisis October 10, 2019 London house prices fell at their fastest rate since the financial crisis in the third quarter, according to Halifax. Homes in the capital saw their values sink 1.7 per cent year on year, their worst performance since autumn 2009. Meanwhile south east house prices dropped 1.3 per cent. Read more: Brexit uncertainty takes a bite [...]
Healthcare giant Philips issues profit warning on US-China trade tariffs October 10, 2019 Dutch healthcare-tech giant Philips has warned the trade war between the US and China will stop it hitting targets for profit margin improvement this year. In an update ahead of its third-quarter report, the European firm said rising tariffs would hamper its earnings before interest, tax and amortisation (EBITA) margin. Read more: Philips to close [...]
Hargreaves Lansdown boosts assets under administration to over £100bn October 10, 2019 Hargreaves Lansdown said today that it had grown assets under administration to over £100bn at 30 September. In a trading update, the investment firm said that assets under administration stood at £101.8bn, up from £99.3bn three months earlier. The company said net new business was £1.7bn, compared to £1.3bn at the same time last year, [...]
Strong Roots’ Sam Dennigan talks exporting and the environment October 10, 2019 Exporting is a major topic ahead of the Brexit deadline of 31 October. Hundreds of thousands of business across a range of sectors are understandably concerned about how to overcome the challenges associated with exports after leaving the EU. Sam Dennigan, founder and chief executive of Strong Roots, managed to crack this conundrum with a [...]
Order, order: The race is on to replace John Bercow October 10, 2019 The departure of John Bercow from the speakership of the House of Commons will create a vacancy of huge importance. Yesterday, nine hopefuls vied with each other for the honour of replacing him, answering journalists’ questions on everything from the impartiality of the role, to Westminster’s alleged drug problem, to the rules on breast-feeding in [...]
DEBATE: Last year’s winter fuel allowance for pensioners cost almost £2bn – should the benefit be means-tested? October 10, 2019 Last year’s winter fuel allowance for pensioners cost almost £2bn – should the benefit be means-tested? Imogen Farhan, a researcher at the independent think tank Reform, says YES. It is vital that those struggling to heat their homes receive support, but handing out cash to wealthy pensioners is a waste of taxpayers’ money. Age alone [...]
Despite the doom and gloom narrative, female entrepreneurship is on the rise October 10, 2019 The number of female entrepreneurs is on the rise, and their share of investment funding is increasing. It’s not a line you read very often, but it’s something we need to celebrate louder, because the perception can sometimes be anything but. Often, we hear about the challenges facing women, but little about their successes. In [...]
The US-China trade spat is a proxy war in a much bigger battle October 10, 2019 Make no mistake, the trade war is real. But it is being used as a proxy by China and the US to fight a bigger battle: one that transcends orthodox definitions of hard and soft power to incorporate “sharp” power – influence over finance, information, ideas, even thought and behaviours. It is a fight for [...]