British Land signs first tenant for Cheesegrater as profits increase November 15, 2011 PROPERTY developer British Land has formally signed a pre-let agreement with insurance broker Aon to lease a third of its Leadenhall building, nicknamed the Cheesegrater, in the City. Aon will take 191,000 square feet over 10 floors of the 47-floor skyscraper – due to be completed mid-2014 – paying on average £56.60 per square foot [...]
Super prime property set to hit records November 15, 2011 LONDON’S super prime residential developments are expected to achieve record values of £10,000 per square foot as the capital continues to attract wealthy international investors, research from Knight Frank shows. Demand for luxury apartments and houses in London’s golden postcodes like Mayfair and Knightsbridge boomed earlier this century, with market values escalating from £1,000 per [...]
Dell warns of a global hard drive shortage November 15, 2011 DELL’S quarterly revenue just missed Wall Street estimates last night, and the world’s third-biggest personal computer maker warned that full-year revenue could be hurt by an industry-wide shortage of hard drives. Net earnings rose to $893m (£564.7m), from $822m this time last year. During the third quarter, desktop PC revenues slid six per cent to [...]
Profits rise as Burberry stays upbeat November 15, 2011 BURBERRY’s chief executive Angela Ahrendts said demand across flagship stores in cities such as New York and Hong Kong was helping the group to defy the downturn, as the fashion house reported strong first half results. The 155-year-old British brand, known for its signature raincoats, made 60 per cent of retail revenue in 25 cities [...]
Chin up: four reasons to be cheerful November 15, 2011 LIKE everyone else, we can’t help but feel depressed at the torrent of bad news that each new day brings. Crisis in the Eurozone; nightmare on the high street; jobs bloodbath in the City – the bad headlines never end. So we thought we’d reflect on some of the more positive pieces of news, which [...]
H&M in same store sales dip November 15, 2011 SWEDISH fashion group Hennes & Mauritz yesterday posted a second straight monthly fall in sales at established stores in October as the debt crisis in the Eurozone pushed consumer sentiment even lower. H&M said same-store sales in October fell two per cent. Total turnover for H&M, including newly opened stores, rose eight per cent in [...]
Deep price cuts at Debenhams November 15, 2011 DEBENHAMS, Britain’s second-biggest department store chain, has ratcheted up the pressure on rivals, launching its annual five day pre-Christmas promotion with what it claims are its deepest ever discounts. The firm said yesterday it will cut the prices of tens of thousands of items in its 164 UK stores and online by up to 40 [...]
We shouldn’t write off traditional media yet November 15, 2011 LAST week I had the pleasure of two days of pure blue skies at the Monaco Media Forum. As you hope and expect at these gatherings, there was also a confusing barrage of blue-sky thinking. One speaker was working on a project to develop the 3D printer concept by investigating the practicality of printing a [...]
How are MPs coping with the economy? November 15, 2011 This week we are asking members of our Voice of the City poll, run with PoliticsHome, how they think UK politicians are dealing with the rocky economy. When do you think the British economy will return to strong growth, and what state will it be in by the time of the 2015 parliamentary elections? To [...]
Panel named for £250,000 Wolfson prize November 15, 2011 THE PANEL of top European economists who will judge the £250,000 Wolfson Prize entries was unveiled today. The prize, sponsored by Next chief executive Lord Simon Wolfson (pictured, right), will award a quarter of a million pounds to the economist who offers the best feasible plan that a country could follow if it wanted to [...]
