Stan Life cash for property debt September 18, 2013 Standard Life Investments has entered the commercial real estate debt market with a £250m pot to invest. The group has a segregated mandate on behalf of Standard Life Assurance to spend the money on high-quality secured loans in the UK market, the company said yesterday. The announcement comes after the recent appointment of Neil Odom-Haslett [...]
Helical Bar invests in regions September 18, 2013 Helical Bar has splashed out on a £50m portfolio of properties across the country, ranging from retail units in Doncaster to an office for the department of communities and local government. The seller was an unnamed private client of Jones Lang LaSalle. Duncan Walker, investment director at Helical Bar, said the purchase “provides good cashflow [...]
LondonMetric buys Wickes units September 18, 2013 LondonMetric has snapped up £28m-worth of Wickes outlets across the country from Aberdeen Asset Management, the firm announced yesterday. LondonMetric’s joint venture with the Universities Superannuation Scheme will use its loan facility to buy the buildings, and added that the firm is already in talks with Wickes to “materially extend the unexpired lease terms and [...]
Positive results for M&C Saatchi as profits rise on new business wins and growing markets September 18, 2013 M&C SAATCHI yesterday reported profits up six per cent for the first half to 30 June, on the back of new business wins for the company. The London-based advertising agency, behind the NHS’s “Change 4 Life” promotion to encourage healthy eating and the “Keeping London Moving” campaign to celebrate the 150th anniversary of the London [...]
London is making an effort to bring in Islamic finance players September 18, 2013 BRITAIN is encouraging banks through a task force to establish sharia-compliant products, aiming to position London as a Western hub for a fast-growing Islamic finance sector that is expected to reach $2.6 trillion by 2017. “We want to be the leading (Islamic) finance sector outside of the Muslim world,” deputy mayor of London Edward Lister [...]
Siemens rejigs top team after chief’s ousting September 18, 2013 SIEMENS named company insider Ralf Thomas as its new chief financial officer yesterday, replacing Joe Kaeser who was promoted to the chief executive’s post last month following the departure of Peter Loescher in a bitter boardroom battle. Kaeser and his new chief financial officer now face the challenge of whipping into shape the lumbering German [...]
Beanie babies creator to pay $53m to settle US tax evasion charges September 18, 2013 THE billionaire creator of Beanie Babies, Ty Warner, was charged yesterday with tax evasion and agreed to plead guilty and pay a penalty of almost $53.6m (£32.9m), according to prosecutors and his attorney. Warner, 69, ranked as the 209th richest American by Forbes, “went to great lengths” to hide from his accountants and the Internal [...]
Apple’s update brings a whole new design September 18, 2013 APPLE last night released iOS 7, the biggest update to its iOS iPhone and iPad operating system since they launched in 2008. The new software brings a whole new look and feel to Apple’s mobile devices and comes with over 200 new features. Improvements include quick access to key settings through the so-called control centre, [...]
Sharp is back on track as it hikes forecasts and plots fundraising September 18, 2013 JAPANESE electronics group Sharp said yesterday it will raise more than £1bn in share sales, marking a step forward in the TV and display maker’s turnaround. The company also raised its business forecasts as a reviving stock market aided its revival. The supplier of panels for Apple’s smartphones is clawing its way back to health [...]
Air France fights to get a grip on costs with 2,800 more job cuts September 18, 2013 FRENCH airline Air France announced 2,800 fresh job cuts yesterday to help cope with weak air travel demand as it heads towards its sixth consecutive annual operating loss. The carrier said it would no longer reach its target to break even this year, but said it was “imperative” to achieve that in 2014. “We are [...]
