Carlyle reveals a £1bn revamp for Blackfriars October 29, 2012 THE CARLYLE Group revealed yesterday it is to submit plans this week for the giant £1bn regeneration of London’s South Bank between Blackfriars Bridge and the Tate Modern. The nine-building scheme will create 1.4m square feet of space including 494 homes, shops and 450,000 sq ft of offices and will also open Blackfriars’ railway viaducts [...]
Middle Eastern investors drive office demand October 29, 2012 A WAVE of new investors from the Middle East and Far East seeking a safe haven for their cash are helping to fuel demand for London office properties, according to new research by BNP Paribas. The French bank’s property arm said overseas investors made up 61 per cent of London office investment in the third [...]
Regeneration of London Bridge to cause five years of disruption October 29, 2012 COMMUTERS through London Bridge were yesterday warned to brace themselves for five years of daily disruption as Network Rail unveiled its plans for the regeneration of the City’s oldest station. The biggest redevelopment in the capital in a generation begins next May, and will give London Bridge the biggest concourse in the country as well [...]
100 residential towers planned across London October 29, 2012 DEVELOPERS have tall ambitions for London’s skyline, with more than 100 residential towers being built or planned across the capital, new research shows. Soaring residential land values and a booming population has prompted a revival in high-rise towers, which lost their popularity after a backlash against the concrete block disasters of the 1960s. A report [...]
Is building residential high rise apartments a good idea? October 29, 2012 MARK TINKER | AXA FRAMLINGTON Having people live in large high-rise buildings, which are also used as offices and shops, integrates the building into the city. But London doesn’t want to lose the street level feel that is unique to the city. NICK SCOTT | SCOTT CITY RESIDENTIAL There is big money in high-rise space [...]
Most countries to miss deadline to implement new bank rules October 29, 2012 ONLY SIX globally important banks are likely to be subject to new Basel III banking rules from the internationally agreed start date, the Basel Committee warned yesterday, as most countries have failed to meet the requirements as planned. The rules are meant to come into effect on 1 January 2013. But less than three months [...]
Fixed income boosts Nomura as Europe bites October 29, 2012 NOMURA Holdings, Japan’s largest investment bank, posted its fourth straight quarterly profit yesterday, as an upswing in its fixed income operations helped it counter weak equity markets and the fallout from an insider trading probe. The results were weaker than expected as the company restructures operations following an ill-fated expansion overseas through the 2008 acquisition [...]
Old Mutual’s Nedbank lifted by higher-risk unsecured lending October 29, 2012 NEDBANK Group said yesterday it is on track for double-digit profit growth this year, the latest South African bank to benefit from a rise in higher-risk lending. Hampered by weak corporate demand for credit, the country’s big banks have ramped up unsecured lending – the profitable but riskier practice of giving loans that are not [...]
Prospect of UBS cutting further jobs lifts shares October 29, 2012 SHARES in Swiss bank UBS soared yesterday in anticipation of a new widespread round of job cuts at the institution, which are expected to be announced along with its third quarter results today. The bank is expected to announce up to 10,000 positions will go, largely in the fixed income units of its investment banking [...]
How much will cost-cutting at UBS save the bank? October 29, 2012 KIAN ABOUHOSSEIN | JP MORGAN We believe staff reductions are mainly related to fixed income as well as support functions. We estimate the fixed income business has 2,000 front office personnel. So, in our view staff reduction of about 6,000 is more realistic, which would still be nine per cent of employees at the end [...]
