Hipgnosis seeks £200m capital raise in new share placing July 2, 2020 Music royalties investment firm Hipgnosis has announced plans to raise £200m in a share placing as the company looks to expand its catalogue portfolio. The London-listed firm said it hopes to raise the cash in a retail offer of up to 200m new C shares, at a price of 100p per share via London fintech [...]
John Lewis set to announce job cuts and store closures July 1, 2020 Department store giant John Lewis is planning to slash jobs and close some of its stores as the coronavirus crisis continues to weigh on the retail sector. John Lewis has so far reopened 22 of its 50 UK stores as the lockdown begins to ease, but said it is likely that some shops will remain [...]
British Land boosted by reopening of retail stores July 1, 2020 Real estate firm British Land has reported strong sales as lockdown restrictions on non-essential retail started to ease earlier this month. The pandemic seems to have had little effect on consumer confidence. In the week commencing 14 June, when restrictions started to ease, British Land reported footfall at its English assets was 64 per cent [...]
Boris Johnson’s New Deal: PM invokes Roosevelt in ‘radical’ infrastructure overhaul June 30, 2020 Boris Johnson has today set out plans to overhaul the UK’s planning system, to make building new homes easier, in order to fix what he termed “intergenerational injustices” in access to property. The overhaul will allow developers to change the use of buildings and land in town centres without planning permission, meaning that vacant buildings [...]
London Stock Exchange enters talks to buy stake in Primarybid June 30, 2020 London technology startup Primarybid is in talks to sell a chunk of its business to Britain’s stock exchange, following a successful partnership between the pair. London Stock Exchange Group (LSEG), the parent firm behind the London Stock Exchange, has entered detailed discussions with Primarybid about an investment, Sky News reported. Primarybid is an everyday investing [...]
UK coronavirus death toll nears 55,000 June 30, 2020 The United Kingdom’s coronavirus death toll has hit 54,872, according to a tally of official data that shows the UK is one of the world’s worst hit geographies. England and Wales have now recorded 49,371 coronavirus deaths from the start of the pandemic to 19 June, Office for National Statistics data has showed. England saw 47,127 [...]
Shard developer accused of ‘vandalising’ Bermondsey property to earn planning permission June 29, 2020 A row over a Bermondsey development has escalated with local campaigners alleging that Shard developer Sellar has “vandalised” a heritage building to earn planning permission. The Old Bermondsey Forum (OBF) and the Bermondsey Village Action Group (BVAG) are accusing Sellar of tearing out a hydraulic hoist from a historic warehouse in Vinegar Yard, near London [...]
Exclusive: London firms revolt over business rates payments during lockdown June 29, 2020 Tens of thousands of London companies are believed to be mutinying against the taxman by refusing to pay business rates for the three months of the coronavirus lockdown. In light of the pandemic, the government has handed firms in the retail and tourism sectors a year-long holiday on the tax, which is applied to companies’ [...]
Innvotec launches fund for female-founded businesses in bid to ‘level the playing field’ June 29, 2020 Alternative investment fund manager Innvotec has launched a new fund to invest exclusively in female-founded enterprises, in a bid to tackle the gender funding gap in business. Innvotec, one of London’s longest established independent fund managers, today announced the launch of its Female Ventures Fund (FVF) to invest in early-stage businesses founded or co-founded by [...]
Intu falls into administration after lender talks fall through June 26, 2020 Retail landlord Intu has fallen into administration after lenders failed to agree to last-minute relief on the company’s debt obligations today. Intu’s failure to raise new capital means KPMG will now step in to handle its administration. Adminstrators James Tucker, Michael Pink and David PIke will lead the process. Intu’s shares have now been suspended [...]