Winemakers running out of storage space in wake of ‘record’ harvest October 21, 2018 The 2018 English wine harvest is so enormous that there is not enough space to hold it, astonished wine makers are reporting. The long hot summer has produced an unprecedented volume of grapes, in what is certain to be the biggest vintage since the English wine industry began to take off thirty years ago. With [...]
Auditors face fresh headache as shareholder adviser eyes industry October 18, 2018 The world’s largest adviser to shareholders is to ramp up its scrutiny of auditors, in a move that will pile further pressure on the UK’s embattled beancounters amid a series of industry controversies. Auditors will be facing another headache at their shareholder meetings next year after the Institutional Shareholder Services (ISS) today unveiled plans to [...]
A prank left in tatters: Banksy reveals auction shredding did not go to plan October 18, 2018 The art world was captivated earlier this month when a painting by Banksy was partially shredded at an auction. Now, however, it seems that the infamous stunt was not one that went according to plan. A new video released today reveals that Banksy’s intentions had been to destroy the entire artwork, known as Girl with Balloon, [...]
Rics: Construction industry grows amid buoyant workload levels October 18, 2018 The UK’s construction sector remains buoyant in the wake of rising workloads and a renewed growth in infrastructure activity, according to a closely-followed survey from the Royal Institution of Chartered Surveyors (Rics) out today. In the last three months 20 per cent more chartered surveyors reported a rise rather than a fall in their workloads, [...]
Morrisons finance boss rewarded with promotion in wake of turnaround plan October 17, 2018 The finance chief of Morrisons – who has helped steer the once-embattled supermarket group into steady growth – bolstered his role today after taking on new responsibilities at the retailer. Trevor Strain is taking on extra duties as commercial director in a promotion that sees him strengthen his position underneath boss David Potts. Having led [...]
FTSE asset management fund LBOW takes £25m loan from challenger bank Oaknorth October 17, 2018 UK challenger bank Oaknorth has completed a £25m loan to ICG-Longbow (LBOW), the London listed commercial real estate lender. Oaknorth has said today that it agreed a ‘loan-on-loan’ deal with LBOW, in which the challenger firm will lend the asset manager money which can then be further loaned out to property investors. The deal is [...]
E-commerce demand helps boost rent for logistics warehouse giant Segro October 17, 2018 Warehouse property giant Segro’s rental income soared 43 per cent in the nine months to the end of September, amid burgeoning demand for new space from fast-growing e-commerce firms. The Slough-based FTSE 100 company, which is one of the UK’s largest listed property firms, said headline rent for the period hit £52m, rising from £36.4m [...]
UK’s largest housebuilder Barratt starts year in ‘strong position’ despite drop in reservations October 17, 2018 Housebuilder Barratt Developments looked to paint a positive picture in its trading update this morning, as it announced a rise in forward sales and remained confident of the year ahead. Total forward sales in the 15 weeks to mid-October were up 12.4 per cent on the prior year at a value of £3.1bn. However, reservations [...]
London house prices dip as growth slows to five-year low October 17, 2018 House prices growth in August dropped to its slowest annual rate in more than five years, as London's subdued housing market dragged down average property prices. New Office for National Statistics (ONS) data out today show house prices climbed 3.2 per cent in the year to August, marking the slowest pace of growth since August 2013. [...]
Barbie on a bull run: Resurgent sales in the All-American figurine have proved a saving grace for toy making giant Mattel October 16, 2018 When it happened three years ago, it may have passed you by: after all, Donald Trump had just announced he was running for President, and the EU referendum campaign was getting under way. So you’d be forgiven for not noticing, in 2015, that Barbie dolls had just been given adjustable ankles. And yet the fact [...]
