London house prices: Galliard is about to launch homes just for first-time buyers – and expects queues and “rapid sales” April 25, 2016 We all know how tough it is for first-time buyers to get a foot on the ladder, with recent estimates suggesting Londoners would need a six-figure salary to buy a home by 2020. So perhaps Galliard Homes is right to predict "queues and rapid sales" for its latest scheme The Landmark, which is being touted [...]
BHS appoints Duff & Phelps administrators, putting 10,000 jobs at risk – but more than 30 bid enquiries have already been made April 25, 2016 More than 30 enquiries to buy BHS out of administration have been made since reports first surfaced that the business was teetering on the brink, City A.M. understands. Managing directors Philip Duffy and Benjamin Wiles were appointed joint administrators of BHS this morning, putting around 10,000 jobs at risk. In a statement Duff & Phelps [...]
The bids are in for Yahoo, but what’s its value to Verizon, TPG and other buyers? April 25, 2016 Verizon emerged as the bidder to beat as the deadline for bids to buy Yahoo closed last week. The internet company hasn’t been able to spin-off its Asian assets – including its 15 per cent stake in Alibaba – or sell off its core business, which includes everything from search, digital content and advertising to [...]
Steel crisis: Government in talks with European Commission to avoid state aid clash April 24, 2016 The government is in talks with European competition regulators to avoid breaching state aid rules that could hold up attempts to rescue the UK's steel industry. The Department for Business, Innovation and Skills (BIS) announced last Thursday it would be willing to take a 25 per cent stake in Tata Steel's UK assets and offer "hundreds [...]
Deadline set for Austin Reed to find a buyer April 24, 2016 The owner of cash-strapped retailer Austin Reed is in a race against time to find a new owner after it filed a notice to appoint administrators last Friday. The filing of the notice gives the retailer 10 days of breathing space by placing a moratorium on claims by creditors. During this time it is understood that [...]
Prepare to salivate: John Lewis predicts the 10 things we’re going to go nuts for in autumn/winter 2016 April 22, 2016 Yes, the summer has only just arrived (or has it? Is this really it?) but retailers are already one step ahead of us, forecasting what we'll be buying this autumn/winter. Well it is only 246 days until Christmas. So while you might be daydreaming about which holiday clothes you're going to splurge on, the buyers [...]
YouGov Poll: Twice as many people support buy-to-let tax hike than oppose it April 22, 2016 The recent hike in the stamp duty levy for buy-to-let landlords was met with fierce opposition from landlord groups when it came into force on 1 April. However, according to YouGov survey released today, more than twice the number of UK adults were in favour of the three per cent surcharge than those who opposed [...]
Last remains of failed unicorn Powa Techologies to be sold this week April 19, 2016 Powa Technologies, one of the UK's first "unicorn" billion dollar startups, has found a buyer for the remaining part of its business after collapsing into administration earlier this year. Administrator Deloitte has found an as yet unnamed buyer for PowaPOS, the last of its three businesses, and is expected to finalise a deal by the end of [...]
Lending standards dip in the Eurozone as banks open up their coffers in response to the European Central Bank’s negative interest rates April 19, 2016 Businesses across the Eurozone are finding it easier to secure bank loans, according to the European Central Bank (ECB)’s quarterly lending survey, released this morning, which also shows that negative interest rates are encouraging banks to lend more. Banks across the single currency bloc said they were loosening their standards for businesses applying for loans [...]
UK house prices: The government could tackle the country’s housing deficit – but it has a vested interest in choking supply April 19, 2016 We need more housing to be built in the UK. That’s a quite indisputable statement that everyone I speak to in the property industry, in the public sector, amongst charities and at the dinner table, agrees with. The population of Britain increases by around 500,000 people each year largely due to positive net immigration but because people are [...]