Skanska wins contract for The Scalpel July 22, 2013 CONSTRUCTION firm Skanska has won the contract to build the 190m tall office building known as The Scalpel. The Nordic firm, which has also built the Gherkin and the Heron Tower, is due to start work immediately on the Kohn Pedersen Fox (KPF) designed high-rise, with completion set for early 2017. The building, at the [...]
FTSE surges upward to join US stock markets July 18, 2013 Following record breaking gains from US stock markets (the S&P also broke new highs shortly after posting), the FTSE is up over one per cent, driven by rallies in the Royal Bank of Scotland, Aberdeen Asset Management, Barclays and the London Stock Exchange. Lloyds Banking Group, Kingfisher and ASOS have also hit new highs. This [...]
Brit Insurance sells subsidiary July 17, 2013 BRIT Insurance, the sponsor of the England and Wales cricket team, has sold its stake in an online business insurer in a management buyout, it emerged yesterday. The Lloyd’s of London insurer sold a 37 per cent holding in Simply Business in a deal that values the online broker at more than £50m, according to [...]
Goldman Sachs back on top as profits double July 16, 2013 EARNINGS more than doubled at Goldman Sachs in the last year, the investment bank revealed yesterday, as the growing economy sent more business its way. It made $1.86bn (£1.23bn) in the second quarter, up from $927m in the same period of 2012. Net revenues jumped 30 per cent to $8.61bn, far outstripping the 14 per [...]
The changing skyline of Aldgate June 4, 2013 Aldgate is fast becoming a hub for mixed-use developments offering the best in modern living. Naomi Mdudu investigates. The east end isn’t the only area under major regeneration. Aldgate, which lies within the City Fringe, a transitional area between the financial district and east London proper, is quickly becoming a prime residential spot and is [...]
Four new firms setting up shop in Heron Tower | City A.M. April 29, 2013 GERALD Ronson’s landmark Heron Tower is now 60 per cent let after four new tenants agreed to take up office space in the building. Partnership Assurance, the pensions company, has signed for the building’s lowest four office storeys, Heron International Group said yesterday. Securis Investment Partners, the insurance linked investment fund manager, stockbrokers Westhouse Securities, [...]
What the other papers say this morning February 26, 2013 FINANCIAL TIMES Esure warned against overpricing Top fund managers have warned Esure against overpricing its initial public offering as the motor and home insurer prepares to launch London’s latest float as early as today. Bankers were yesterday finalising the details of the planned float as analysts said that the most recent publicly available accounts indicated [...]
City Moves for 27 February 2013 | Who’s switching jobs February 26, 2013 Lloyds The bank has announced the appointment of David Weatherhead as regional trade director for London and the south east. He will focus on medium-sized businesses with turnovers of up to £500m. Weatherhead has over 24 years’ banking experience, and joins Lloyds from RBS. He sits on the London Chamber of Commerce’s Security and Defence [...]
Hiscox returns year-end profits to shareholders in £200m deal February 25, 2013 INSURER Hiscox yesterday announced plans to return £200m to investors after enjoying a bumper year of premium rises and few disaster-related payouts. This is almost its entire £217m year-end profit and the news pushed the company’s shares to a record high on the day that Robert Hiscox – the man who built the business from a small [...]
Rolex wins title of consumer superbrand for a second year February 24, 2013 LUXURY watch-maker Rolex has come top of an annual chart of consumer “superbrands” for the second year running, leaving Apple and Microsoft trailing in second and third place, a poll published today shows. The iPad and iPhone-maker jumped 16 places to clinch second place, missing out on the top spot to Rolex. Over 2,900 British [...]