£15bn worth of London homes sit empty, as Londoners squabble over supply July 20, 2021 The value of London’s homes sat empty has racked up to £15bn, according to new data, as a rung on the property ladders edges further away from Londoners. London has made a name for itself as a destination for ultra-wealthy buyers to snap up prime real estate as assets and holiday homes, while prospective homeowners [...]
Number of new businesses in UK increases by 14 per cent despite pandemic impact July 20, 2021 The number of new businesses started in the UK increased by 14 per cent in the last year despite the impact of the Covid-19 pandemic, outpacing the global average of a 6 per cent increase in business start-ups. A study by UHY, the international accountancy network, shows that there were 726,000 new businesses created in [...]
Apollo pulls out of Morrisons takeover talks but could join Fortress-led bid July 20, 2021 Apollo Global Management has pulled out of its takeover talks to acquire Morrisons, but is in discussions to join the group leading the charge to buy the British supermarket chain. In a statement published this morning, the private equity firm said: “Apollo confirms that it does not intend to make an offer for Morrisons other [...]
Number 10 slaps down London minister for saying people can ignore Covid app July 20, 2021 Downing Street has quickly slapped down London minister Paul Scully for saying it is optional to self-isolate after being pinged by the NHS Covid Test and Trace app. A Number 10 spokesperson said it is “crucial people isolate when they are told to do so” in a clear rebuke to Scully. The minister said this [...]
‘What I Know Is…’: black professionals share their experiences July 20, 2021 One of the main reasons for the under-representation of black professionals in investment management is the lack of knowledge and information about joining the investment profession and the opportunities that it can deliver. For the financial sector which is increasingly focused on sustainability and where corporates are increasingly rewarded for good ESG policies, ensuring that [...]
Hong Kong leader brushes off fears of exodus from the territory July 20, 2021 Hong Kong chief executive Carrie Lam on Tuesday brushed off the recent scenes at the city’s airport packed with thousands of Hongkongers leaving for Britain. The city’s leader said emigration is a personal choice, and her government held no official position on the phenomenon. “Every now and then in the history of Hong Kong, there [...]
“E-commerce winner” Virgin Wines confident in post-pandemic sales July 20, 2021 Wine subscription service Virgin Wines raised its annual financial forecasts as a result of strong customer demand, it told markets this morning. Their customer base grew by 24 per cent in the previous 12 months. The pandemic saw people at home stock their bars and fridges causing increased demand in alcoholic products over lockdowns, as [...]
HMV backs the High Street by putting in place plans for 10 new stores July 20, 2021 Music and entertainment retailer HMV has announced plans that it plans to open 10 new stores as it continues to show faith in the High Street. It includes plans for a flagship London site. Following its decline into administration two years ago its Oxford Street store – along with many others – were closed. However, [...]
BlackRock flexes shareholder muscle and ups votes against company management July 20, 2021 The world’s largest asset manager has toughened its stance on corporate governance and increased its votes against board proposals and executive pay at large public companies worldwide. In its quarterly stewardship report published on Tuesday, BlackRock said it voted against management on 33 per cent of “say-on-pay” proposals in European companies in the year to [...]
FCA warns fund managers to improve their “poor-quality” ESG applications July 20, 2021 The Financial Conduct Authority (FCA) has told fund managers that their “poor-quality” ESG fund applications must improve. The UK watchdog said it has received “numerous” applications with a sustainability focus that were “poorly drafted” and fell below its expectations. “They often contain claims that do not bear scrutiny,” the FCA wrote in a letter to [...]
