Markets fall on renewed Greek default fear May 12, 2015 STOCK markets slid and bond prices fell yesterday on renewed fears that the Greek government will run out of money and default on its debts, as negotiations with creditors drag on. Earlier in the week, the Eurogroup and Greek finance minister Yanis Varoufakis insisted that good progress was being made. But markets are less convinced that [...]
Chuka Umunna joins the race to replace Ed Miliband for Labour May 12, 2015 SHADOW business secretary Chuka Umunna has officially thrown his hat into the ring to become the next leader of the Labour party. Umunna, the MP for Streatham, made the announcement in a video posted on Facebook yesterday. In the film, which appeared to have been made with a handheld camera, Umunna stood on a street [...]
Branson moves into active events with sporting venture May 12, 2015 RICHARD Branson has added yet another brand to his empire,with the launch of Virgin Sport, which will run mass participatory events in running and cycling. Mary Wittenberg, previously boss of New York Road Runners, which co-ordinates the New York marathon, has been brought on board as chief executive. Branson said the “health and wellness” game [...]
Lloyds halfway out of bailout with £10bn sale May 12, 2015 More than half of the government’s stake in Lloyds has now been sold back to private investors, raising more than £10bn for the Treasury so far, the government announced yesterday. The latest sale of £500m of shares takes the taxpayer’s stake to below 20 per cent, compared with 41 per cent when the bailout [...]
Opec prediction on global oil demand pushes price back up May 12, 2015 Oil prices rallied again yesterday as the Organisation of Petroleum Exporting Countries (Opec) monthly report revealed that world oil demand is slated to grow at a higher rate than previously expected. Prices fell by over 50 per cent between July 2014 and the start of 2015 due to a combination of falling global demand, growing [...]
Serviced offices march on London as smaller firms embrace temporary workspaces May 12, 2015 The number of landlords providing temporary workspace in London has boomed over the past decade, fuelled by small-to medium-sized businesses avoiding burdensome leases in favour of more flexible and creative offices. The serviced office market has grown by 67 per cent over the last 10 years and now comprises of five million square feet across [...]
Office vacancies in south east at 14-year low May 12, 2015 VACANCY rates across the south east office market are at their lowest since 2001, driving rental growth to record highs in towns across the region, Knight Frank reported yesterday. The property advisory firm’s annual M25 office market report revealed that availability fell by 13 per cent across all types of office space in the first [...]
Gateley looks to outsiders in bid to bolster firm ahead of London IPO May 12, 2015 A corporate law firm tracing its roots back to the industrial revolution hopes to gain “first mover advantage” by becoming the first legal outfit in Britain to list on the stock market. Gateley, which was founded more than 200 years ago in Birmingham, is hoping to transform its corporate structure from a limited liability [...]
EasyJet share price slumps despite rise in profits as airline seeks to fly over April May 12, 2015 Shares in easyJet hit turbulence yesterday, despite the company announcing a pre-tax profit for the half year up to 31 March. The low-cost carrier announced a pre-tax profit of £7m for the six-month period, but its share price slumped, closing down 9.77 per cent, due to profit fears caused by a difficult April. [...]
Insurer Hiscox’s growth lifted by fewer disasters in first months of 2015 May 12, 2015 International specialist insurer Hiscox has reported a 12 per cent quarterly increase in gross written premiums (GWP), boosted by currency movements and fewer disasters. The London-listed company said premiums for the three months ending 31 March rose to £561.7m from £501.6m at the same time last year. Chief executive Bronek Masojada said: “It’s been an [...]
