Brookfield Asset Management snaps up repairs firm HomeServe for £4bn May 19, 2022 Brookfield Asset Management is set to buy London-listed repairs business HomeServe for a little over £4bn, both companies have announced today. The offer of 1200p per share by the Canadian investment giant, which is based in Toronto, equates to a 71 per cent premium on HomeServe’s 704p closing price on 23 March. Home repairs and improvements surged during the pandemic, [...]
GPE boss warns London’s office rebound could hit a wall amid runaway inflation May 19, 2022 The boss of GPE, formerly known as Great Portland Estates, has warned that London’s office leasing rebound could hit a wall as inflation shrinks the appetite for new developments. The capital’s post-pandemic recovery for offices has seen some of the UK’s largest developers – as well as GPE – hail record leasing activity and surging [...]
Investec earnings per share top pre-pandemic levels despite market volatility May 19, 2022 Investec’s annual earnings per share have topped pre-pandemic levels, as the specialist banking and asset management group reaps the rewards of Covid-19 economic recovery. Adjusted earnings per shares have nearly doubled in the year to 31 March, jumping from 28.9p in 2021 to 55.1p – coming in at the top end of previous guidance. The [...]
Space-tech real estate to take-off as investment gathers pace May 18, 2022 Space-tech real estate is forecast to take-off, following in the footsteps of the UK’s post-Covid-19 life sciences property boom, according to Savills. The UK has doubled down on its blossoming industry, which pulls around £16bn into the economy each year, as it looks to launch from its own soil this summer. “The space industry [...]
Alliance Pharma lines up GSK veteran as chairman seeks to step down May 18, 2022 Alliance Pharma is ushering in a GlaxoSmithKline (GSK) veteran to helm its board, as chairman David Cook readies to step down from the top position. Cook, executive director and chief financial officer of Ellipses Pharma, will step down from the non-executive role next year. He will depart after the London-listed healthcare group’s annual general meeting, [...]
After Grenfell: Government puts forward new rules as fire boss hits out at progress May 18, 2022 The Government has put forward new fire safety regulations, which will see building owners share the level of risk that the design and materials of outer walls have with emergency fire services. It is hoped to give fire brigades an opportunity to adopt the best strategy to tackle potential blazes. However, the Home Office has [...]
UK house prices climb higher to £278,436 as market heat awaits ‘cooling’ May 18, 2022 The average price of a home has continued to climb higher, though its non-stop steamroll is still showing signs of slowing, according to the latest figures. House prices have increased 9.8 per cent to £278,436 in the year to March, down slightly from the 11.3 per cent in annual growth recorded in February of this [...]
UK inflation hits 9 per cent: 40-year high as country wrestles cost of living crisis May 18, 2022 UK inflation has hit 9 per cent, a 40-year high, as the country wrestles with a cost-of-living crisis. Top economists have pegged inflationary headwinds to hit double figures by the end of the year, as food, energy and other household services and goods spiral in cost. Food products and metals have seen the largest leaps [...]
British Land earnings soar as competition heats up for work campuses May 18, 2022 British Land, one of the UK’s largest property developers, has secured a £251m underlying profit for the last 12 months, as its earnings per share nearly doubles. The FTSE 100 builder’s profit jumped 25 per cent in the period, the equivalent of £50m. Meanwhile, earnings per share have soared from 18.8p to 27.4p over the [...]
Business of Space: The things you can do with a commercial hand May 6, 2022 City A.M.’s Millie Turner offers up a roundup of the most important news across the space industry, every Friday. This week: SpaceX deepens commercial ties with NASA Artemis: NASA latest stage in returning to the moon Space regulations race to catch up with technology SpaceX and satellite spin-off Starlink SpaceX brought four astronauts back down to Earth last night, as [...]