Cities are still at the heart of Britain’s prosperity – but the north-south divide is getting even bigger December 12, 2017 In the aftermath of the financial crisis much was written about Britain’s supposed need to “rebalance” its economy away from London and, specifically, the City. Numerous commentators argued that new drivers of growth must be found in other parts of the UK, and called for policies aimed at reviving British manufacturing and reducing our reliance [...]
Terra Firma urges hedge fund H/2 to let it wash its hands of Four Seasons care homes December 4, 2017 Private equity firm Terra Firma has urged the hedge fund bondholder of Four Seasons care homes to take the group off its hands, accepting that it will make a loss. In a statement today, Terra Firma asked H/2 – which is Four Seasons’ largest creditor – to accept its stake in the 343-strong ailing care [...]
Carillion share price hits fresh lows: Banks were left on the sidelines while shares plummeted December 4, 2017 Carillion’s stock market valuation hit fresh lows last week, with the stricken contractor now worth little more than £70m. The firm’s travails have been well documented; massive contract write-downs and mind-boggling losses have been pounced upon by short sellers convinced the worst is yet to come. With Carillion’s shares starting the year at 236p each, [...]
Challenger accountant CogitalGroup announces first acquisition for Blick Rothenberg December 1, 2017 Blick Rothenberg, the accountancy firm owned by CogitalGroup, has today made it first acquisition as its parent pursues plans to challenge the Big Four accountants. Shelley Stock Hutter, based in Marylebone, has been scooped up by Blick Rothenberg to strengthen its presence in the “owner-managed business” sector. With a team of more than 60 people, [...]
Autumn Budget 2017: Boost to North Sea oil as government plans to introduce key tax change next year November 22, 2017 North Sea oil and gas producers received a boost from the government today as chancellor Philip Hammond announced tax changes aimed at increasing investment. In the Autumn Budget, Hammond revealed the government would introduce transferrable tax history for oil and gas fields in the North Sea from November 2018. Currently, the history of tax paid [...]
Will Budget 2017 affect UK house prices? Here’s what Philip Hammond’s Budget will mean for property sales November 20, 2017 As with most Budgets, this Wednesday’s fiscal extravaganza has been heavily trailed by the government – so it should come as a surprise to few that one of the main focuses is expected to be solving the UK’s housing crisis. In advance of the speech, Theresa May has hinted at policies to “build more houses, [...]
Forget the Night Tube: Night Overground services start in east London on 15 December between New Cross Gate and Dalston Junction November 20, 2017 We heard back in July that Night Tube services were coming to the Overground, and now we have an official date. Night Overground services kick off in east London on Friday 15 December, with 24-hour services operating on Friday and Saturday nights on the London Overground between New Cross Gate and Dalston Junction, extending to [...]
Let’s make London the green finance capital of the world November 15, 2017 The prospect of Brexit threatens to cause serious damage to the UK’s financial services industry. Paris, Frankfurt, Dublin and even Luxembourg are circling like hungry jackals waiting to pick off the weakest members of the herd. London will need to develop a distinctive and competitive offer to investors. I believe we can find it, in [...]
Global M&A activity to hit cycle high of $3.2 trillion next year November 13, 2017 Worldwide mergers and acquisition activity will hit $3.2 trillion (£2.4 trillion) in 2018, as dealmaking is lifted on a rising global economic tide, according to forecasts to be published today. Investors are feeling “increasingly confident” because of a pick-up in global trade and GDP growth across most of the world, according to analysis by law [...]
British firms set for M&A buying spree despite uncertain outlook November 6, 2017 British businesses are poised to launch a buying spree on a scale not seen for almost a decade, buoyed by forecasts of rising profits – despite political and economic uncertainty. Some 60 per cent of British companies surveyed by accountants EY are planning acquisitions in the course of 2018, a nine percentage point rise since [...]