City Pub Group sells number of pubs as operator eyes post-Covid property opportunities March 22, 2022 Premium pub operator City Pub Group has announced the disposal of six pubs for around £17.1m. Five venues on the south coast – the Walrus, Brighton Beach Club and Lion and Lobster in Brighton, the Inn on the Beach on Hayling Island and The Travellers Friend in Woodford Green, Essex – have been sold to [...]
Lockdown DIYers push B&Q owner Kingfisher past £1bn profit March 22, 2022 Kingfisher’s sales shot up last year as the B&Q owner became the third UK retailer to exceed £1bn profit. The home improvement behemoth joined retail titans Tesco and Marks & Spencer when it revealed its profits had reached record levels on Tuesday. Lockdown DIYers sent sales past £13bn for the year to 31 January, thanks [...]
Boris Johnson compares Ukrainian resistance to invasion to Brexit vote March 20, 2022 The Prime Minister said it was the instinct of Brits to “choose freedom,” just as it was the Ukrainian instinct to resist invasion. Boris Johnson has come under fire for comparing the UK vote on Brexit to those impacted by Russia’s invasion of Ukraine, speaking at the Conservative Party’s spring conference. “When the British people [...]
Treasury to reveal £40bn tax boost as Sunak faces calls to further tackle cost of living March 20, 2022 The Chancellor is preparing for a £40bn boost to the Treasury from higher tax receipts as industry and campaign groups call for more solutions to tackle the cost of living. Rishi Sunak is expected to reveal better borrowing figures than previously forecast, alongside higher tax revenues and a slimmer debt-to-GDP ratio in 2021-22. The figures [...]
CVC mulling Amsterdam listing as London’s hopes for rare private equity IPO dashed March 19, 2022 Private equity veteran CVC Capital Partners is eyeing a listing on Amsterdam’s Euronext, in a blow for the City, it has been reported. According to the Financial Times newspaper, CVC informed investors of its intentions, although no final decisions have been made just yet. London has been hopeful of a rare private equity listing but [...]
Pupil sells verified NFTs of real homes with proptech eyeing total revenue opportunity of $70m March 19, 2022 Spatial data firm Pupil has sold what it says are the first-ever verified NFTs of real-life properties. The London based proptech has launched a new class of NFT which involves very detailed digitisations of real life properties. Speaking exclusively to CityA.M., the company confirmed it has already garnered buyers across residential and commercial real estate. [...]
Shell hopes to woo regulator with fresh plans for major North Sea gas field March 19, 2022 Shell has revived its efforts to develop a major North Sea gas field after previous attempts were shut down by regulators over environmental concerns. The fossil fuel firm has published an amended plan for the development of the Jackdaw field, at the Shearwater hub in the central North Sea. It is hoping to launch production [...]
Property boss launches £1.5bn legal claim against Lloyds over Libor hit March 19, 2022 The former Centre Point owner has tabled a £1.5bn legal claim against Lloyds Banking Group, pointing to the Libor scandal as reason for his property firm’s woes. Founder of property investment firm Targetfollow, Ardeshir Naghshineh, said he would have never taken out certain loans if he had knowledge of the Libor benchmark being manipulated fraudulently. [...]
Chelsea takeover battle: Broughton and Coe gain favour within government March 19, 2022 Sir Martin Broughton and Lord Coe’s takeover bid for Chelsea has received a warm welcome from within the government, it has been reported. Broughton and Coe are heading a consortium endeavouring to buy Chelsea after sanction-hit owner Roman Abramovich was forced to slash ties with the club. Treasury officials are to review the preferred bidder [...]
US court dismisses antitrust lawsuit against Amazon March 19, 2022 US court has thrown out a lawsuit against Amazon.com after the tech giant was accused of antitrust violations. The court dismissed claims relating to the website banning third-party sellers from offering better deals for their products elsewhere. Amazon’s motion to dismiss the complaint was granted by Judge Hiram Puig-Lugo of the Superior Court of the [...]
