By: Amber Murray

Retail Reporter Amber Murray is a reporter at City A.M., covering retail, luxury and property stores. Prior to City A.M., she worked as a sub-editor for Fastmarkets and completed a Masters in Financial Journalism at City University. Please get in touch with stories/tips/coffees at amber.murray@cityam.com

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H&T: Profit jumps due to ‘ongoing constraint in the supply’ of short-term loans

August 20, 2024

The UK’s largest pawnbroker and short-term loan business, H&T, announced a double-digit profit jump in the first half of the year as Brits showed no sign of reining in loan demand. Profit before tax was £9.9m in the six months to 30th June, up 12.5 per cent from the £8.8m reported in the same period [...]
Topps Tiles acquires CTD brand and assets out of administration for £9m

August 19, 2024

FTSE-listed Topps Tiles has acquired CTD Tiles out of administration for £9m as it looks to enter the housebuilding segment. The purchase included CTD Tiles’ brands, 30 stores, selected stock and customer data, Topps said. CTD, which supplied tiles to the retail, trade and commercial markets, entered administration on 19 August after a wider downturn [...]
‘Even luxury is subject to constraints’: Global prime rental growth slows

August 19, 2024

After record growth in the past two years, global prime rents have cooled down to long-term levels as supply constraints start to ease and renters hit their price ceilings, according to new data. Average annual rental growth was 3.5 per cent in the 12 months to the end of June 2024, down from 7.4 per [...]
Why Lord’s Cricket Ground and Wembley Stadium are the best areas for buy-to-let in London

August 19, 2024

Buy-to-lets in London are, famously, quite a good idea – if you have the money to spend on them. But rental yields – defined as the return on your investment after accounting for costs like mortgages and taxes – have been hammered by high interest rates lately, making it crucial to buy in the right [...]
‘Buyer buzz’: Outlook raised for UK house prices after interest rates cut

August 19, 2024

Property portal Rightmove has said there is a “degree of buyer buzz” in the housing market, caused by the moderation in mortgages in light of the Bank of England’s decision to cut the base interest rate. It raised its house price forecast for 2024 from negative one percent to one per cent, citing more interest [...]
Caledonia Investments swoops in for tyre company DTM with £55m majority stake

August 19, 2024

Investment trust Caledonia has bought a majority stake in Direct Tyre Management (DTM) for £55m, meaning it now owns the entire firm. DTM, which provides outsourced tyre management services to fleet operators, has reinvested alongside Caledonia to acquire 100 per cent of the business from investors including Palatine Private Equity. Blackpool-based DTM has delivered year-on-year [...]
Savills: Bank of Mum and Dad to pay out almost £30bn over the next three years

August 16, 2024

First-time buyers will receive almost £30bn in financial support from their parents over the next three years as the housing ladder slips increasingly out of reach for independent young buyers. Gifts and loans from the Bank of Mum and Dad totalled £9.4bn in 2023, according to the latest analysis from property firm Savills. This figure [...]
Prime London property bounces back after election despite tax uncertainty

August 15, 2024

Buyers have returned to prime London properties after the election despite uncertainty around the government’s position on tax changes, new data shows. Sales in July were at their highest on a year-to-date monthly basis, although the average price of a property fell by five per cent on an annual basis, LonRes has found. The number [...]
Amazon cleared for take-off as delivery drones to be tested in the UK

August 15, 2024

The use of Amazon delivery drones in the UK will be tested by the Civil Aviation Authority (CAA), in its latest move to modernise UK airspace. The CAA will test machines which fly out of the human controller’s line of sight, a move which is likely to get the ball rolling on drone-delivered packages in [...]
Magners and Tennent’s owner C&C outperforms in tough alcohol market

August 15, 2024

Drinks company C&C, the owner of brands such as Magners and Tennent’s, has said it’s on track to meet expectations this year despite well-documented troubles in the alcohol industry. The firm, which is headquartered in Dublin, said in an update ahead of its AGM that it remained “confident” of achieving its set goal and that [...]

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By: Amber Murray

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