City Moves for 24 July 2015 | Who’s switching jobs July 23, 2015 CVC Credit Partners Chris Fowler has been appointed managing director in the asset management and investment firm’s private debt team. Based in London, he joins from GE Capital, where he was managing director in the mid-market leveraged finance origination team. Fowler began his career at Morgan Stanley. Lloyds Bank Commercial Banking The bank has announced [...]
Bosley explosion: Four people trapped and major incident declared after explosion at Wood Flour Mills in Cheshire causes multiple casualties July 17, 2015 Update: Four people are still missing, several hours after an explosion caused a wood works in Cheshire to collapse. Police have said a further two explosions have taken place at the Wood Flour Mills wood works in Bosley, Cheshire, and that four people are thought to remain trapped in the building following this morning's [...]
Sky shines but rates warning knocks back UK’s housebuilders – London Report July 14, 2015 BRITAIN’S top share index closed higher yesterday, with broadcaster Sky climbing after Deutsche Bank upgraded the shares and energy stocks rising as crude oil rose. The FTSE 100 index closed 0.2 per cent higher at 6,753.75 points, extending a one per cent rise on Monday when markets welcomed a Greek debt deal. Shares in Sky [...]
FTSE lifted by a housebuilders and AB Foods – London Report July 9, 2015 BRITAIN’S top equity index moved further away from this week’s six-month lows yesterday, lifted by well-received results from Associated British Foods and Barratt Developments. AB Foods, the owner of Primark, gained 5.1 per cent to 3,082p to be the top riser on the blue-chip FTSE 100 after it posted robust results, maintaining guidance and with [...]
Contemporary luxury comes to the North Bank: The Westminster penthouses that are challenging traditional power architecture July 9, 2015 Westminster has drawn the pious and powerful for a millennia, but the only homes to service them seem to be stuffy period numbers with no central heating and little natural light. Sure, there’s plenty of Old England charm in a Georgian terrace, but it’s hardly the height of modern luxury anymore. Interiors from the [...]
Barratt Developments to beat forecasts with 45pc rise in profits July 9, 2015 The figures Housebuilder Barratt Developments is expecting a 45 per cent increase in profits for the year to the end of June, it said in a trading update today. The company is set to beat analysts’ forecasts, with a full-year pre-tax profit up to around £565m, while total forward sales are expected to have risen 29.6 per [...]
July Budget 2015: Buy-to-let tax relief cut hits housebuilders as Foxtons, Barratt, Crest Nicholson and Berkeley Group share prices slide July 8, 2015 Shares in housebuilders and estate agents slid yesterday as the chancellor announced plans to curb the booming buy-to-let sector by cutting tax relief. While homeowners had mortgage interest relief withdrawn 15 years ago, buy-to-let landlords have continued to reap the benefits, with the wealthiest able to reclaim 45p of every £1 they pay in [...]
FTSE up despite hit for UK housebuilders from budget reforms – London Report July 8, 2015 A RALLY in Barclays after a management shake-up helped Britain’s top share index gain yesterday, but housebuilders took a hit from reforms introduced by finance minister George Osborne. The FTSE 100 closed 0.9 per cent up at 6,490.70 after posting its lowest close since mid-January in the previous session. However, London-exposed housebuilders and estate agents [...]
House builders’ reports will be corporate focus – London Report July 5, 2015 THE EMERGENCY Budget on Wednesday will see chancellor George Osborne pressing ahead with major cuts to welfare and government departmental spending. However, economists have said that the Budget is unlikely to bring with it any major change in economic policy. Instead, the main focus of Osborne’s speech on Wednesday will be around the £12bn of [...]
Tesco shareholders encouraged to revolt at AGM over Dave Lewis’ pay, Philip Clarke’s golden goodbye and John Allan’s appointment as chairman June 23, 2015 Tesco shareholders are being encouraged to stage a revolt at the supermarket's AGM on Friday, with investor group Pirc advising they vote against key resolutions. Chief executive Dave Lewis' pay could come under particular scrutiny if Pensions and Investment Research Consultants – one of the largest investor groups in the UK – gets its [...]