Citigroup closes in on £1.2bn purchase of Canary Wharf headquarters February 17, 2019 Citigroup is in talks to buy its Canary Wharf headquarters for a reported £1.2bn in a major show of confidence in London’s status as a global financial centre. Citi is looking to secure the purchase of the 25 Canada Square skyscraper, which it currently leases, from owner AGC Equity Partners in a bid to double [...]
Stock Spirits executives survive boardroom coup by activist investor Western Gate February 14, 2019 Vodka maker Stock Spirits has emerged unscathed after fending off an audacious boardroom coup mounted by activist investor Western Gate. Chairman David Maloney and senior independent director John Nicolson had their heads on the block at the company’s annual general meeting (AGM) this morning after the disgruntled shareholder launched an attack on the firm’s leadership. [...]
Kinetic UK chief executive Stuart Taylor to step down this year February 14, 2019 The chief executive of out-of-home advertising firm Kinetic, Stuart Taylor, will step down after six years in charge, the company said today. Taylor, who joined the WPP-owned agency in 2013, will be retiring as UK boss in June after steering the firm through a time of flux in the sector. Read more: Out-of-home adverts aren't [...]
EU agrees draft copyright reform amid clash between publishers and tech giants February 14, 2019 EU negotiators have reached a deal to reform copyright rules in a move that could overhaul intellectual property rights in the digital age and strike a blow against tech giants. The EU Commission late last night secured a draft agreement to force online platforms to take down user-generated content that breaches intellectual property rights. Read [...]
Trade minister Liam Fox urges MPs to back Prime Minister in Brexit vote February 14, 2019 Trade secretary Liam Fox has urged his Tory colleagues to fall in line ahead of a showdown between Prime Minister Theresa May and her party’s hardline Brexiters in a vote this afternoon. The motion asks parliament to reiterate its support for a previous Brexit vote, when MPs passed an amendment allowing May to return to [...]
Housing market endures sluggish start to the year as buyer and seller confidence dwindles February 13, 2019 The UK housing market has endured a slow start to the year as key activity measures for both buyers and sellers fell further in January. Enquiries, sales and new instructions all declined in January as uncertainty continues to wear away at confidence, according to research by the Royal Institution of Chartered Surveyors (Rics). Read more: [...]
Huawei boss accuses US of launching coordinated smear campaign February 13, 2019 The rift between Huawei and western governments deepened today after a senior executive at the telecoms firm accused the US of mounting a smear campaign against it. Huawei chairman Eric Xu slammed US authorities for carrying out a “coordinated geopolitical campaign” against the telecoms firm in a bid to gain ground in its ongoing trade [...]
Future snaps up Cycling News and Procycling Magazine from Immediate Media February 13, 2019 Publishing firm Future has bought two specialist cycling titles from rival Immediate Media in a bid to cash in on the UK's cycling craze and bolster its special interest offering. The media firm today said it has acquired Procycling Magazine and Cyclingnews.com, the world’s largest cycling website, for an undisclosed amount. Read more: Vogue publisher [...]
Eat’s owners Horizon Capital mull sale amid strain on high street food outlets February 13, 2019 The owners of sandwich chain Eat are planning to sell the business as it battles with growing competition in the crowded high street food market. Private equity firm Horizon Capital, which owns a major stake in the company, has appointed corporate advisory firm Spayne Lindsay to oversee a potential sale. Read more: EU competition watchdog [...]
UK house price growth slows to lowest level since 2013 as uncertainty rattles market February 13, 2019 House price growth fell to its slowest pace in almost six years in December as uncertainty continues to weigh on the housing market. UK house prices rose just 2.5 per cent year-on-year, marking the slowest annual growth since July 2013, according to new figures from the Office for National Statistics (ONS) and the Land Registry. [...]