Our infantile political class is failing to appreciate the scale of Britain’s challenges October 4, 2016 A country on the brink of a historic transition. An economy in need of serious, long-term thinking. A wider world that, as ever, remains a work in progress. A swathe of our own population here at home that remains on the margin. These are serious, generation-spanning challenges that require all of us – whether in business, [...]
First Utility shakes up board as it kicks back IPO plans October 4, 2016 The UK's biggest energy challenger First Utility is reportedly shaking up its board as it delays plans to go public. It comes after a disappointing outcome of a competition investigation into the Big Six energy suppliers. First Utility will announce tomorrow that current chairman, Dr John Roberts, is to step down and be replaced by Thomas Chambers, [...]
Starting gun fired to restart sale of billions of pounds of distressed mortgages October 4, 2016 The government is preparing to put a multi-billion pound portfolio of mortgages it manages on behalf of failed lender Bradford & Bingley back on the market. UK Asset Resolution (UKAR) – whose role is to flog mortgages written by doomed lenders that include Bradford & Bingley and Northern Rock – signalled an end to its Brexit break by circulating non-disclosure agreements to prospective buyers. Read [...]
Business travelers fork out more to stay near the City, study shows October 4, 2016 Business travelers were still prepared to pay more to stay near Canary Wharf and the Square Mile despite increased uncertainty ahead of the EU referendum. A bi-annual report by HRG — the global travel company — showed that average room rates for business travelers leapt in the Docklands and the City by 6.9 per cent [...]
“No silver bullets” for homebuilding says the housing minister October 4, 2016 Housing minister Gavin Barwell has pushed back on a call to liberalise rules on green belt construction, warning there are "no silver bullets" to the UK's shortfall in homebuilding. Earlier this week, communities secretary Sajid Javid revealed plans for a housing white paper later this year. And Barwell today said the government would pursue a multi-faceted [...]
Electra Partners floats Premier Asset Management and bags £36m October 4, 2016 Premier Asset Management announced its return to the stock market this morning in a listing that values the company at nearly £140m. Not content with floating Hollywood Bowl last month, shareholder Electra partners continued the trend today and will net £36m through selling its preference shares, although it will retain an eight per cent share interest. Read [...]
Facebook and trend for fewer but bigger nights out lift profits at Revolution Bars Group October 4, 2016 A large Facebook following and people opting for fewer but bigger nights out have revolutionised profits at Revolution Bars Group over the last year. The figures Revenue at the premium bar firm, which operates the Revolution and Revolucion de Cuba brands, was up 6.9 per cent to £119.5m in the year ended 30 June. Like-for-like [...]
“No question” government will address the City’s fears over Brexit says David Davis October 4, 2016 Brexit secretary David Davis has vowed to “resolve” fears from the City over the loss of access to European markets in the aftermath of leaving the EU. Speaking at the Conservative party conference in Birmingham, Davis said the government was working to minimise risks to the financial services sector. London mayor Sadiq Khan has been [...]
World gets thirsty for British gin as exports skyrocket October 4, 2016 The rest of the world has developed a bigger taste for British gin than ever before, as new figures show global exports have risen 166 per cent by value since 2000. According to the Wine and Spirit Trade Association, exports since 2010 have risen 44 per cent by volume and 46 per cent by value. [...]
Bank of England could unleash another £280bn of quantitative easing October 4, 2016 The Bank of England could take interest rates to zero and unlock another £280bn of quantitative easing if the economy slows in the wake of the Brexit vote. In fresh analysis by Michael Saunders, the newest member of the Bank's monetary policy committee (MPC), he outlines how the Bank would respond should the economy perform [...]