There’s been a double ousting at Tata Steel November 25, 2016 The Tata Steel board has ousted chairman Cyrus Mistry after Tata Sons, the principal shareholder of Tata Steel, called for a vote on the matter. Director Nusli Wadia has also been removed from the board. Read more: Ousted Tata chairman Mistry to remain head of Tata Steel In a statement to the Bombay Stock Exchange, Tata Steel [...]
Network Rail reveals huge growth in retail sales at London’s railway stations November 25, 2016 Retail sales at London's railway stations have grown at a titanic 17 times the high-street average, despite the number of passengers visiting them remaining the same. Sales during the three months since Britain's vote to leave the EU grew at 3.7 per cent across Network Rail's 10 London stations. This compares with high-street growth of just [...]
New Builds: Homes on sale this week on a new town square in Ealing and Help to Buy in Sydenham November 25, 2016 Dylon Works, Sydenham From £227,997 with Help to Buy London, from £389,995 for private sale apartments Over 200 homes will go on sale tomorrow, with the option to take out a 40 per cent equity loan via the government’s Help to Buy London scheme. Primed for first time buyers, 221 out of 223 one to three bedroom [...]
Sirius Real Estate to move to main market in 2017 November 25, 2016 AIM-listed Sirius Real Estate is planning to move to main market in early 2017, City A.M. understands. The property company, which focuses on commercial property in Germany, is expected to announce the news in the new year. Read more: Angela Merkel confirms she will seek fourth term Sirius is listed in both London and Johannesburg. It [...]
The average £1m London home now has fewer than three bedrooms November 25, 2016 The average home worth £1m in the capital has just 2.9 bedrooms, figures have suggested. Using data from OntheMarket.com Savills researcher Lucian Cook found homes valued at between £900,000 and £1.1m across the rest of the UK have more than four bedrooms – while in London, it is fewer than three. The next lowest figure [...]
Black Friday 2016: Customers of this lender are spending £32,000 a minute November 25, 2016 Nationwide card holders are spending £32,000 a minute in the Black Friday sales. The building society said that between midnight and 8:30am today customers had shelled out £16.3m, an increase on last year's spend. Read more: The best Black Friday deals on consoles and games More than 400,000 transactions have taken place – up 50 per cent [...]
Marmite owner Unilever vows to appeal €590m Brazilian tax ruling November 25, 2016 Unilever's share price fell during mid-morning trading after revealing it had received an "adverse judgement" from Brazilian courts in relation to a €590m (£504m) indirect tax case. The Anglo-Dutch consumer giant warned in October that a case in Brazil was ongoing, although it stressed "we continue to believe that our case is strong". Read more: Was Marmite-gate [...]
Jaguar Land Rover will create 10,000 jobs by building its electric car in the UK November 25, 2016 Take that, Brexit naysayers. Not only has the chief executive of Jaguar Land Rover said he wants to build his electric car in the UK – creating thousands of jobs in the process, reports suggested. In a speech at a meeting of political and automotive leaders last night, Ralf Speth said the company is planning to double production to [...]
Compare the (annuity) market: Financial watchdog wants customers to be offered more choice November 25, 2016 The UK's financial watchdog will force annuity providers to tell customers to shop around after it found that 80 per cent of customers would get a better dealing by doing so. The Financial Conduct Authority (FCA) today revealed its own Black Friday push with plans for an "annuity comparator" to help people find out if there [...]
A third of City workers reckon their employers might move abroad because of Brexit November 25, 2016 A third of City workers reckon say their employers might be planning to relocate after the Brexit vote, a new study has found. The survey, by Morgan McKinley, found 31 per cent of those in the Square Mile believe their bosses either definitely are or might be moving parts of their business abroad. Just under [...]