St Modwen cheers to increasing optimism in residental market June 2, 2014 ST MODWEN, the developer behind the £2bn revamp of New Covent Garden market, has said that first half profits are expected to be “significantly ahead” of last year thanks to rising values of its assets and returning confidence in the property market. The company, which submitted the planning application for the redevelopment of Britain’s biggest [...]
L&G backs social landlord June 2, 2014 Legal & General (L&G) has provided social landlord Housing Solutions with a £50m loan as part of its expansion into the UK housing sector. The Berkshire-based group plans to use the 40-year loan to help build 1,600 homes around Maidenhead over the next six years, where housing is in short supply.
Chinese spending set to soar June 2, 2014 The boom in China’s middle class is set to drive up retail spending in the world’s second largest global economy by 90 per cent to £3.5 trillion by 2018. Retail analysts Conlumino said China splashed out £1.85 trillion last year – six times more than UK retail spending. Spending on clothing is expect to double [...]
Capital & Regional seals loan June 2, 2014 Property fund manager Capital & Regional said yesterday it has completed a £350m refinancing of its Mall Fund. Morgan Stanley has provided the five-year loan, which will replace its existing Commercial Mortgage Backed Securities debt. It has also provide the group with a £25m capital expenditure facility.
Entertainment One swoops for Phase 4 Films June 2, 2014 ENTERTAINMENT One, the FTSE 250-listed film and television distributor, has acquired north American films distributor Phase 4 Films for CA$27m (£18.2m). The deal, which is expected to boost Entertainment One’s US film division, is comprised of 1.4m shares in Entertainment One and CA$19.3m in cash. “We are delighted that the Phase 4 team is joining [...]
Samsung to reduce dependence on Google with first Tizen phone June 2, 2014 SAMSUNG will launch its first smartphone running its own Tizen mobile software instead of Google’s Android platform. The South Korean firm will officially announce the Samsung Z, which comes with a 4.8in high-definition display and offers features such as a fingerprint sensor, in San Francisco today. The phone will first be made available in Russia [...]
Regent Street offers futuristic retail adverts June 2, 2014 SHOPPERS strolling down Regent Street will be targeted with adverts from shops pinged directly to their smartphones as part of futuristic new plans unveiled yesterday. The Crown Estate, which is regenerating the mile-long stretch of shops, said retailers will be able to install beacons that connect via bluetooth technology to customers strolling past – helping [...]
Upbeat reserve report boosts shale gas stock June 2, 2014 SHALE gas explorers made gains on the London Stock Exchange yesterday, on the back of an encouraging reserve assessment and hopes that the next licensing round may be imminent after the government entered into talks with interested companies. Aim-listed Union Jack Oil’s shares soared over 30 per cent in early trading and closed 19 per [...]
Power and utility firms perform better with women on boards June 2, 2014 POWER and utility companies with more women on their boards have higher average return on equity (RoE), according to EY research published today. Out of the top 100 companies in the sector, those with the most diverse boards had an average RoE of 7.7 per cent, compared to just 4.5 per cent for those with [...]
City Moves for 03 June 2014 | Who’s switching jobs June 2, 2014 Charles Stanley The investment management firm has announced the appointment of Paul Abberley as chief investment officer. He was most recently at Aviva Investors, where he was acting chief executive and member of its group executive committee. Prior to that, Abberley spent eight years at ABN Amro Asset Management, where he was chief investment officer for its [...]
