City looks to end of year float flurry as companies prepare IPOs October 15, 2015 London flotations are bouncing back as investor confidence returns to the market, with a pipeline of new listings expected before Christmas. Initial public offerings (IPOs) were in short supply during the summer, with China’s slowing economy triggering global stock market mayhem and a sharp downturn in investor morale. But yesterday, McCarthy and Stone, which builds [...]
Rate of shop closures on the British high street at its lowest in five years October 15, 2015 Good news for the high street. Shops are enjoying their lowest closure rate for five years, according to PwC research compiled by the Local Data Company (LDC) and released today. In the first six months of 2015, 2,634 shops closed on the UK’s high streets, a rate of 14 stores a day, said the research. [...]
Labour to City: We’re just not that into you October 15, 2015 This newspaper is not naturally sympathetic to Labour’s new policy direction. Plans for nationalisations, higher taxes and faith in a magical money tree have not gone down well in our editorial conferences. We have, however, kept an open mind. Maybe, just maybe, wiser heads were at work among the chaos of the opposition’s early days. [...]
London’s creative industries provide more jobs than the financial services sector – GLA October 14, 2015 London's creative industries provide almost 800,000 jobs – more than the financial services sector – and boost the economy by a whopping £35bn. Yesterday’s findings from GLA Economics, the Greater London Authority's economic research unit, shows that creative industries such as advertising, architecture, IT and publishing now make up 16.3 per cent of total jobs [...]
E.On to sell Norwegian oil and gas assets to firm owned by Russian billionaire Mikhail Fridman October 14, 2015 German utility giant E.On is selling its Norwegian oil and gas assets to a company owned by Russian billionaire Mikhail Fridman for $1.6bn (£1.04bn), as part of its ongoing restructuring plan for its oil and gas division. The blue-chip firm, whose UK supply arm is one of the big six energy providers, saw its share price [...]
Zac Goldsmith: 2016 London mayoral candidate hits back at Labour over business record October 14, 2015 Conservative mayoral candidate Zac Goldsmith has hit back at Labour attacks on his business record, defending his positions on Heathrow expansion, the European Union and the role of business in the capital. The Richmond Park MP told City A.M. in an interview yesterday: “I don't think we've ever had a Labour party that is more [...]
China’s new middle class threatens Beijing October 13, 2015 Credit Suisse has published its 2015 Global Wealth Report. It is one of the most comprehensive tools analysing the distribution and changing nature of wealth across the world. Much of the response to the report has focused on the news that the global top one per cent are still rich and appear to be getting [...]
Diageo sells wine brands including Blossom Hill to Australian group Treasury Wine Estates for $552m October 13, 2015 Diageo has agreed to sell its major wine interests, including UK brand Blossom Hill, to Australian firm Treasury Wine Estates for $552m (£362m). The drinks company will offload its UK-based Percy Fox business, which also includes the Piat d'Or brand, as well as US-based Chateau and Estate Wines, in a deal expected to conclude by [...]
Volkswagen scandal gets A-list treatment in new film proposal October 13, 2015 It was only a matter of time. The Wolf of Wall Street is turning his attention to saving the planet, after Leonardo DiCaprio snapped up the film rights to a new book on the Volkswagen emissions scandal. DiCaprio’s film company Appian Way will be in the driving seat, turning an as-yet unnamed and unpublished book on [...]
Parcel delivery service Yodel to create 7,000 jobs ahead of Black Friday 2015 and Christmas period October 13, 2015 Parcel carrier business Yodel today announced that it is to create 7,000 jobs across the UK, including 776 in London, ahead of the busy Christmas period. While the roles are seasonal positions for the peak period, the firm said many of the positions are expected to become permanent due to a number of new retailers joining [...]
