Canary Wharf sets its sights on becoming residential landlord July 24, 2014 The boss of Canary Wharf Group said yesterday that government attempts to pour cold water on the housing market would do little to ease the UK’s housing crisis as the group prepares to make a push into residential. Sir George Iacobescu said that while the Bank of England had “tightened the screws on finance…it doesn’t [...]
London workers boost rents in home counties July 23, 2014 IMPROVING job prospects and growing demand from London workers hunting for homes outside of the capital has sent rents in the home counties soaring this year. Figures released today by Knight Frank show that prime rents jumped 2.6 per cent in the three months to June, a marked increase on the 0.7 per cent growth [...]
Royal docks business park gets go-ahead for new development July 23, 2014 Plans by a Chinese developer to create a £1bn business park in London’s royal docks aimed at attracting more businesses from China to the capital were granted planning permission last night. Beijing’s Advanced Business Park (ABP) plans to transform a 35-acre site – currently strewn with empty warehouses and unused docks – to create a [...]
Dividend fears hit Tesco shares July 22, 2014 SHARES in Tesco slumped nearly four per cent yesterday on fears that dividends could be cut as analysts called for a complete overhaul in strategy under its new chief executive. JP Morgan analysts said Unilever director Dave Lewis, due to take over from Philip Clarke in October, would have to reset its UK margins from [...]
Cath Kidston sells stake to Hong Kong firm to fund China growth July 22, 2014 Cath Kidston, the quirky British brand known for its quintessential floral prints, has sold a stake in the business to an Asian private equity as it gears up for further expansion in China. Baring Asia said yesterday it had bought “a substantial stake” from the company’s previous majority owner TA Associates. The US private equity [...]
Nick Leslau sells Max Property Group to Blackstone for £448m July 22, 2014 Property entrepreneur Nick Leslau has agreed to sell his fund Max Property Group to private equity giant Blackstone, in a deal valuing the company at £448m. The Aim-listed fund, which owns St Katherine’s Docks near Tower Hill, was set up in 2009 to take advantage of the distressed property market in the wake of the [...]
Tesco to splash £11m on Dave Lewis and Philip Clarke rescue operation July 21, 2014 Tesco will spend more than £1.8m on its new chief executive Dave Lewis but up to £9.6m on departing boss Philip Clarke as the supermarket puts its faith in the industry outsider to turn its sales around. Clarke’s shock departure and his replacement with Unilever’s president of personal care, who will start in October, comes [...]
Pensioners warned not to splash all their cash on a Lamborghini as Treasury unveils pension rules July 21, 2014 Pensioners tempted to splash all of their cash in one go on a new Lamborghini are being warned they would face a tax bill of £63,000, ahead of today’s confirmation from the government that it will push ahead with the biggest shake-up of the pensions industry in a century. Research by financial services provider NFU [...]
Chinese retailer Fraspens plans £40m Aim float July 21, 2014 ONE OF China’s largest outdoor clothing brands, whose board members include former Sportingbet chief Nigel Payne, has announced plans today for a £40m float on London’s junior market. Fraspens, based in Quanzhou, south east China, makes outdoor clothing, footwear and accessories sold in 580 outlets across China. The company is China’s third largest local outdoor [...]
City delays vote over renaming of Heron Tower July 17, 2014 THE CITY of London has delayed a controversial vote over whether to grant the Heron Tower permission to rename itself after its biggest tenant, Salesforce, in a new twist to the saga. The City’s Planning and Transportation Committee said yesterday that the decision would be debated at a meeting later this year after members felt [...]
