Exclusive: Asian buyer nears £425m deal for Commerzbank HQ September 2, 2018 Commerzbank’s London HQ is set to be sold in a deal worth almost £500m to an undisclosed Asian buyer later this week, City A.M. understands. An agreement for 30 Gresham Street, which was put on the market by Samsung Life Insurance earlier in the summer, is reportedly nearing its final stages, as the burgeoning Asian demand [...]
Giant bikini-clad Sadiq Khan balloon flies over London in response to baby Donald Trump blimp September 1, 2018 A giant bikini-clad balloon of London mayor Sadiq Khan was flown over the capital this morning. A crowdfunding campaign raised almost £60,000 for the stunt, which was in response to a similar balloon of Donald Trump wearing a nappy that was lifted when the US president visited the UK in July. Read more: Meet the [...]
Man jailed for life over terror plan to murder Theresa May September 1, 2018 A man who plotted to murder the Prime Minister and bomb Downing Street has been jailed for life. Naa'imur Rahman, 20, of North London will serve a minimum term of 30 years in prison after he was found guilty of planning to detonate a homemade device in Westminster and use the chaos to assassinate Theresa May. Rahman's [...]
Celebrity tax avoiders banned from honours award list September 1, 2018 Celebrity tax avoiders have been banned from being awarded with knighthoods and other honours, it has been revealed. Nominees for the awards are judged by HM Revenue and Customs and the Cabinet Office, according to a memorandum of understanding, which states that "poor tax behaviour is not consistent with the award of an honour", The Times [...]
City Airport boss Sir Terry Morgan – who also happens to be the former Crossrail boss – stepping down to focus on HS2 August 31, 2018 Sir Terry Morgan is stepping down as chairman of London City Airport next month to focus on his new job heading up HS2. Morgan, who has been at the helm of City Airport since March 2017, also happens to have been chairman of Crossrail Ltd, which today admitted the massive infrastructure project would overrun by nearly [...]
Crossrail delayed by almost a year over safety issues August 31, 2018 Crossrail has been delayed by almost a year, the infrastructure firm behind the project has admitted today. The Elizabeth line, which had been expected to launch in December, will now open through central London in autumn 2019. It is understood the company only told Transport for London and the Department for Transport about the severe delay yesterday. [...]
Lender Amigo hails surging revenue but profits count the cost of IPO August 30, 2018 Amigo witnessed a 50 per cent leap in sales across the first quarter of its new financial year, but its share price remained flat as the costs of its recent stock market float impacted profits. The figures The lender reached £62.9m revenue for the three months to the end of June, a whopping 47 per [...]
Irish hotel group Dalata swoops in for £91m Aldgate site August 29, 2018 Ireland’s largest hotel operator has agreed a £91m deal for a site under development on the edge of the Square Mile. In the latest sign of London’s burgeoning hotel market, the aim-listed Dalata Hotel Group has snapped up the Clayton Hotel in Aldgate, which is situated near the new Crossrail station at Whitechapel. The deal for [...]
The impact of a no-deal Brexit should set off alarm bells for the City’s finance firms August 28, 2018 Last week, the government produced papers assessing the impact of a no-deal Brexit scenario on various sectors, including financial services. It is concerning for the sector that a no-deal scenario is looking increasingly likely. The Bank of England governor Mark Carney ranks this possibility as “uncomfortably high”, while foreign secretary Jeremy Hunt suggested that there [...]
South Quay incident: Police say package is not a threat August 28, 2018 Docklands office workers were evacuated this afternoon as police responded to reports of a suspicious package. The object was found in Harbour Exchange Square in South Quay at around 1.20pm, and police officers closed roads and evacuated offices in the square as they sent a bomb disposal robot in to assess the package, but they [...]