Richemont confirms talks with Yoox over Net-a-Porter takeover March 30, 2015 It turns out that Richemont, the private equity owner of Net-a-Porter, is in talks with Yoox, Net-a-Porter's Italian rival, over a possible "deal". The news follows rumours last week that Amazon was sniffing around the luxury shopping site, with a deal thought to be worth as much as €2bn (£1.47bn) on the cards. But today [...]
Savers rush to fill their Isas as personal finance “Christmas sales” approach March 30, 2015 It's that time of the year again – as the end of the tax year approaches, the nation's cash-rich are in a savings frenzy, hurrying to stow as much in an Isa as possible. In fact, financial adviser Hargreaves Lansdown suggests, savers will put £2.6bn into stocks and shares Isas this week. According to the [...]
Kate Robertson: In a digital era, politicians must start a dialogue, not waste time on negative ads that come back to bite them March 30, 2015 Negative "attack advertising" has a great pedigree in British politics. Think of the snaking dole queue of 1979, proclaiming "Labour isn’t working", or the image in 2001 of William Hague adorned with the hair of Margaret Thatcher. "Be afraid, be very afraid", the caption read – aggressive, but with wonderfully British "edge" you never [...]
Wealthy Russians are pushing up London rental prices by paying an entire year’s rent upfront – as stamp duty and the mansion tax scare buyers into becoming tenants March 30, 2015 Wealthy tenants from Russia, Ukraine, Nigeria and China are pushing up high-end rents in the capital by paying for an entire year of tenancy upfront, a new study has suggested. Upmarket lettings agency EJ Harris said the number of wealthy foreign investors paying annual rents upfront has doubled in the past year, from one in [...]
UK property prices: A third of all house sales are now to first time buyers March 30, 2015 A third of all house sales are now made to first-time buyers, a new report has found, suggesting the UK's housing market is becoming less hostile towards those attempting to climb the first rung on the property ladder. The report, by the National Association of Estate Agents (NAEA), said 30 per cent of all house [...]
European markets rise on Fed rate hike caution March 30, 2015 European markets started the day higher, after comments made by US Federal Reserve chief Janet Yellen hinted at "gradual" rate rises, reassuring investors. The FTSE 100 opened 0.6 per cent up, while Germany's Dax jumped 1.23 per cent and France's Cac 40 rose one per cent. Investors have showed caution in recent weeks after a [...]
Kingfisher share price jumps as it gives up on plans to buy French chain Mr Bricolage March 30, 2015 Looks like B&Q's owner has got itself into a (Screw)fix, after it revealed its plans to buy Mr Bricolage are about to fall through. In a statement to the stock market this morning, Kingfisher said its agreement to buy the French DIY chain, made almost exactly a year ago, was "made provision that it would [...]
Serco sells luxury Australian rail service Great Southern Rail to Allegro March 30, 2015 Serco, the troubled outsourcer run by Rupert Soames, has extricated itself from Great Southern Rail, it announced this morning. The company said it will sell the "luxury" long-distance rail service to Australian private equity firm Allegro for £2.5m. Earlier this month shares in the outsourcer fell as much as 16 per cent after it posted [...]
Startup in London? Here’s how the capital’s funding scene is changing March 27, 2015 The funding landscape for startups in London is changing. It has expanded and diversified, making it easier for early stage companies to raise capital. Yet the benefits vary greatly, depending on the size and type of company. London is fertile ground for startups looking to raise between £50,000 to £150,000. The Seed Enterprise [...]
Jeremy Clarkson’s ousting, Britain enters “noflation”: What got us talking this week March 27, 2015 It was a week of departures: Jeremy Clarkson was finally ousted by the Beeb (he’s now 16/1 to stand for Ukip), Zayn Malik caused untold pain among teenage girls (and a certain amount of glee at Spotify, which capitalised from a “sadness spike”) when he announced his departure from One Direction, and ITV bosses revealed [...]
