Home REIT invests £48m in property portfolio expansion to house homeless people March 8, 2021 Home Real Estate Investment Trust (REIT), which funds the acquisition and development of accomodation for homeless people, has bought 11 property portfolios in a deal worth £48.1m. The acquisition completes the full investment of the net proceeds of the firm’s £240m public listing in October last year. Following the deal, Home REIT has added an [...]
The Week Ahead: ITV, Rolls Royce, Morrison, ECB and UK GDP data March 8, 2021 It’s Monday morning. City A.M. looks ahead at what this week has in store. China Trade for February This morning – The Chinese economy finished 2020 on a strong note, its surplus hitting a record high in December. Exports rose by 18.1 per cent, slightly down from November’s 21.1 per cent but still better than expected, [...]
The office must now sing for its supper: making the workplace about the individual, not the collective March 8, 2021 One striking feature of the pandemic has been the volume of ink spilled debating the future of the office. The huge and rapid shift to working from home for large sectors of the economy made not only individual employees but companies as well look around themselves and say, “This seems to work: should we have [...]
Before the Bell: Europe set for positive start despite softness in Asia markets March 8, 2021 No one can complain about a lack of volatility in financial markets at the moment. The tug-of-war between economic recovery and inflation risks continued on Wall Street on Friday and spilt out onto the street in Asia. Friday’s outsized 379,000 gain in Non-Farm Payrolls caused US yields to spike initially. Still, equity markets just couldn’t [...]
AIM outperforms London’s main market during 12 months of Covid-19 March 8, 2021 A year on from the start of the Covid-19 pandemic, the AIM has strongly outperformed London’s main market, something highly unusual in periods of economic downturn. London’s AIM outperformed the FTSE All-Share by a number of metrics, in part due to several of its listed companies performing well during the pandemic. The AIM All-Share index [...]
Deliveroo offers share hungry investors access to £50m ahead of IPO March 7, 2021 Deliveroo will make £50m of shares available to its customers in its forthcoming IPO as part of a community offer. From tomorrow, any Deliveroo customer who has placed an order with the takeaway service will be able to register their interest in applying for shares in any future floatation via their app. This means that [...]
Fight for the high street: Sunak’s Budget will stop the bleeding, but we must look long-term March 5, 2021 For London’s struggling retailers and leisure operators, Rishi Sunak’s budget provided some welcome respite. The three month extension to the business rates holiday, the £5 billion Restart Grant scheme and the extension to the furlough initiative should enable some of the brands on the high street to survive, at least until they have the opportunity [...]
Ex-government minister Justine Greening joins On the Beach board March 5, 2021 Former government minister Justine Greening has joined the board of online travel agent On the Beach. Greening, who was the Conservative MP for Putney, Roehampton and Southfields between 2005 and 2019, has been appointed as a non-executive director with immediate effect. On the Beach said her experience in Westminster will help it navigate the “major” [...]
Former Deliveroo executives launch 10-minute grocery delivery app in London March 5, 2021 A new delivery app founded by former Deliveroo executives is launching in London today promising to deliver groceries within 10 minutes. Dija will be the latest player to join the growing food delivery space as consumers turn to online amid the pandemic. Research by Capgemini reveals 56 per cent of UK consumers expect to get [...]
City Corporation creates new Covid Business Recovery Fund March 4, 2021 The Court of Common Council, the City of London Corporation’s main decision-making body, has today (4 March) agreed to create a new Covid Business Recovery Fund of up to £50 million. At a virtual meeting, elected Members decided unanimously that grants from the Fund will be made available to small and independent retailers and hospitality [...]