Next week in the City: Prudential, Bunzl and Grafton update investors August 26, 2023 Despite an August lull taking hold of the corporate calendar, Prudential, Bunzl and Grafton.
Lendinvest hit by data breach with customer information exposed August 25, 2023 Lendinvest has said it was hit by a data breach yesterday, with certain customer information made available to outside parties. The London-listed property fintech said an investigation into the incident is ongoing and can not yet confirm the precise number of individuals impacted or how long the information was in the public realm for. It [...]
IKEA pushes back opening of Oxford Street site August 24, 2023 IKEA is pushing back the date to open its flagship store on Oxford Street, with shoppers forced to hold out an extra 12 months to buy flat pack goods on the iconic London street. Two years ago the Swedish retailer inked a £378m deal to takeover the former Topshop site, after its parent company Arcadia collapsed [...]
John Lewis faces fresh backlash for Ealing build-to-rent scheme August 24, 2023 John Lewis is facing renewed backlash from Ealing locals for its attempts to build hundreds of rental homes in two block towers within the London borough as part of its push to diversify from retail. The struggling department and grocery brand has submitted its finalised development plans to Ealing Council, with an ongoing consultation process [...]
London’s West End ‘picking up’ after £102m worth of deals bolsters high street August 23, 2023 The West End showed signs of “picking up” in July as demand from businesses to secure a spot in London’s premier shopping district led to a cluster of five deals totalling £102.2m taking place. So far this year some 58 property transactions have taken place and turnover year to date has reached £1.92bn. This is [...]
FTSE 100 close: London markets finish in the green despite PMI dip August 23, 2023 London markets rose today despite new PMI data showing a significant slump in UK business activity. The FTSE 100 closed up 0.72per cent after a day in the green, while the FTSE 250, which is more aligned with the health of the UK economy, climbed 1.1 per cent. S&P Global’s Purchasing Managers’ Index (PMI) for [...]
London’s rental market is broken – but one solution is hiding in plain sight August 23, 2023 London rents are sky-high and supply is falling further as buy-to-let properties disappear from the market.
Coinpass acquired by OANDA August 22, 2023 OANDA Global Corporation has acquired a majority interest in London-based crypto asset firm Coinpass Limited.
Under-offer Lookers nets £46m profit amid tough economic headwinds August 22, 2023 Car dealership Lookers, which looks set to be swiped from London markets in a £504m take-private deal, reported resilient trading in the first half against significant macroeconomic headwinds. The UK’s biggest car seller reached an agreement late last month with Global Auto Holdings – an entity linked to the Canadian Alpha Auto Group – to [...]
London SMEs committing over half of annual revenue to tech investment, data reveals August 22, 2023 London’s small and medium-sized enterprises (SMEs) are ramping up their tech budgets, allocating over half of their annual revenue to technology investments, according to a report by Barclays. In the capital, SMEs are directing an average of 54 per cent of their annual revenue to technology investments, such as data analytics and artificial intelligence tools, [...]