John Lewis boss talks about “the Midlands Engine” and why Birmingham is the next major economic hub March 15, 2016 John Lewis boss Andy Street says Brum is booming, as he talks up the city in Cannes. Andy Street may be better known as managing director of one of the UK's biggest department stores John Lewis, but the Brummie born and bred was in Cannes donning a different cap today, promoting his home town as [...]
Silvertown Partnership prepares shortlist for funding of Royal Docks £3.5bn scheme March 15, 2016 The developers behind the £3.5bn regeneration of Silvertown Quays in London’s Royal Docks are in talks with several investors about the next stage of funding as work on the first phase of the 62-acre scheme gets underway. The Silvertown Partnership, a consortium of developers made up of Chelsfield Properties, First Base and Macquarie Capital, are currently [...]
London Mayor and Berkeley Homes to build 3,500 homes on Newham Parcelforce depot site March 15, 2016 Berkeley Homes is pushing ahead with a scheme to turn a disused Parcelforce depot in east London into 3,500 homes – including one of London’s largest private rental schemes – after agreeing the terms of the deal with London mayor Boris Johnson. Speaking at the annual MIPIM property conference in Cannes this afternoon, Berkeley Group chairman [...]
MPs run out of patience with Sports Direct boss Mike Ashley, ordering him to attend a hearing on 7 June March 15, 2016 MPs have given up waiting for billionaire Sports Direct boss Mike Ashley to set a date for a scheduled appearance to discuss the controversial sportswear retailer's treatment of its employees. They've commanded him to appear at a hearing on 7 June. The Business, Innovation and Skills (BIS) select committee of MPs want to quiz Ashley over recent media [...]
US drug firm Valeant’s share price has tanked after it slashed its outlook for the rest of the year and is courting a debt default if it misses the deadline for its annual report filling March 15, 2016 Shares in pharmaceutical firm Valeant have fallen by 50 per cent in New York, after it cut its revenue forecast for the year by 12 per cent. The big pharma firm also risks breaching covenant by delaying its annual report, posing a debt default risk. Valeant's share price has lost around 85 per cent since [...]
BlackRock adds its voice to warnings over market bounce, as rally begins to lose its lustre March 15, 2016 A market bounce since January and February lows is at risk of crashing back to earth, according to Russ Koesterich chief investment strategist at BlackRock. BlackRock is the latest financial institution to warn that the current rally may be short lived after Morgan Stanley yesterday said that economic and political circumstances may take its toll on company shares. The FTSE 100 [...]
French Connection losses widen as Next mastermind Christos Angelides joins the board, though the share price slides March 15, 2016 High street fashion chain French Connection has reported its sales have continued to slide in the last year, down eight per cent at £164.2m. The company posted a loss of £4.7m, a substantial increase on the £0.8m loss in 2015. In an attempt to shore up its board FCUK has brought on former Next director Christos Angelides as [...]
A record $1.34 trillion of property will change hands this year as new capital, investor appetite and geopolitical unrest drives investment March 15, 2016 A record $1.34 trillion of global real estate is expected to change hands this year, as new sources of capital and investor appetite combined with geopolitical unrest and increased uncertainty drives further investment into the sector. Cushman & Wakefield’s Atlas Outlook Report, presented this morning at the annual MIPIM property conference in Cannes, shows that [...]
Early retirement suggested for women facing late pensions March 15, 2016 The work and pensions select committee has suggested offering women who were given short notice of the increase in the state pension age the option to retire earlier, with a slightly reduced pension. The suggestion has been made in a report out today on the introduction of a higher state pension age. Committee member John [...]
Putin orders Russian troops from Syria declaring mission accomplished, as foreign ministry tasked with intensifying attempts to broker a peace deal March 14, 2016 Russian President Vladimir Putin has ordered the main part of the Russian military to begin withdrawing from Syria, claiming the mission has achieved its objectives. According to a Kremlin spokesman Putin telephoned his ally Syrian President Bashar al-Assad to inform him Russian forces will begin to leave the country from Tuesday. Russia's role in the conflict allowed Syria to recapture territory from [...]
