Telford Homes calls for reforms to boost supply May 27, 2015 TELFORD Homes said yesterday that London’s “chronic” housing shortage means that it is selling homes quicker than it can build them, as it posted a 31 per cent surge in full-year profits. The housebuilder, which builds primarily in London, targeting more affordable areas that are undergoing regeneration, sold 661 homes over the year, up from [...]
Mortgage lending expected to rebound after pre-election drop May 27, 2015 THE MORTGAGE market slowed in the run up to General Election, according to figures released yesterday by the Council for Mortgage Lenders. London house purchase lending totalled £2.4bn in the first three months of the year, a drop of 16 per cent compared with the final three months of 2014. Housing market experts expect an [...]
Workspace acquires Amnesty building in Clerkenwell for £17m May 27, 2015 SMALL business landlord Workspace has bought human rights charity Amnesty International’s offices in Clerkenwell for £16.55m. The FTSE 250 company said yesterday it has exchanged contracts with Amnesty to buy 25 & 28 Easton Street, bolstering its presence in Clerkenwell, where it already owns a cluster of buildings. The site near Exmouth Market consists of [...]
Snapchat to list after rejecting Facebook offer May 27, 2015 EVAN Spiegel, the co-founder and chief of the billion-dollar app Snapchat, has said the company is planning an initial public offering (IPO). “We need to IPO,” the 24-year-old told a tech conference, ruling out an acquisition by a larger company. Spiegel did not divulge the time frame Snapchat is following to take the hugely popular [...]
UK M&A firms punching above their weight: Being bold, moving fast and paying cash key to takeover triumphs May 27, 2015 The study examined 265,000 deals over 20 years Companies pursuing aggressive merger and acquisition strategies deliver higher returns for shareholders than firms which act with more caution, a study finds. Businesses offering all-cash bids, and those that pursue overseas targets and avoid large transformational deals outperform their peers on a total shareholder return [...]
Carlyle raises €660m for third technology fund May 27, 2015 PRIVATE equity firm Carlyle Group has raised €656m (£466m) for the third version of its tech-focused buyout fund from investors, beating the previous sums collected. The Washington-based group, which has its European headquarters on Berkeley Square in London, started raising cash from investors a year ago and will use the money to invest in Europe-focused [...]
Renminbi takes lead in China’s trade with Asia May 27, 2015 CHINA’S currency is at last starting to make waves in international trade, after years trailing behind the country’s economy in terms of global importance. The renminbi was the most-used currency in Asian trade with China and Hong Kong last month for the first time ever, according to data from communications network Swift. In April, 31 [...]
Brewin Dolphin funds on track as Euroclear sale helps drive profits May 27, 2015 WEALTH manager Brewin Dolphin lived up to expectations yesterday by revealing a £2.6bn rise in assets under management. The company, which has been undergoing a drastic restructuring plan since 2012, said total discretionary funds under management rose to £26.2bn at the end of March compared to £24bn six months ago. Funds had net inflows of [...]
Watchdog to probe unfair PPI sales fees May 27, 2015 BANKS and brokers could face a new wave of costs related to payment protection insurance (PPI) and other products sold to customers, after a judge said hidden high commissions on sales can be unfair on customers. The Financial Conduct Authority (FCA) is looking into the judgement from the Supreme Court in November 2014, which found [...]
British Airways owner rises as it bids for Ryanair’s Aer Lingus stake May 27, 2015 SHARES in International Airlines Group (IAG) climbed steeply yesterday, with investors welcoming the prospect of its bid for Aer Lingus. Shares in the British Airways owner ended up 3.21 per cent, at a value of 562p a share. The Irish airline’s shares also took off, closing up 2.63 per cent at €2.56 (£1.70). The rises [...]
