Why M&S’ relegation from the FTSE 100 doesn’t mean the death of the High Street September 20, 2019 Marks and Spencer (M&S) is set to be relegated from the FTSE 100 after the close of business today. This will be the first time that the company has lost its blue chip status. The UK retailer was a founder member of the FTSE 100 and a stalwart of the UK High Street. But its [...]
Saga profits slump as travel business wanes September 19, 2019 Saga posted a sharp fall in profits during the first half of this year, as challenges in its travel business dragged down the over-50s tourism and insurance giant. Pre-tax profits at the firm tumbled year-on-year by more than 50 per cent from £109.7m to £52.8m. Read more: Lloyd’s of London bosses ‘devastated’ at company misconduct [...]
Major US law firm launches first office in ‘exciting and remarkable’ London September 18, 2019 US law firm Alston & Bird launched an office in London today in a bid to build a transatlantic finance and payments powerhouse. Finance partner Andrew Petersen said Alston & Bird’s management: “Firmly believe that London, with everything going on, is the place to be and I think that’s incredibly exciting for London.” The Atlanta-headquartered [...]
Billionaire businessman Teddy Sagi buys Grade II-listed Holborn building for £300m September 17, 2019 Billionaire businessman Teddy Sagi has bought a Grade II listed building in Holborn for £300m through his co-working investment vehicle Labtech. The 300,000 sq ft Victoria House, a neoclassical building constructed in the 1920s, is Labtech’s largest acquisition to date and brings the total value of its property portfolio to around £3bn. Read more: Belgravia’s [...]
Sainsbury’s outperforms big four rivals September 17, 2019 Sainsbury’s was the best performing of the big four supermarkets, according to industry data for the latest 12 week period, as the UK grocery market returned to growth. The supermarket saw sales dip 0.1 per cent in the 12 weeks to 8 September. Read more: Aldi targets London expansion as profit falls Rival grocers Tesco. [...]
Kazakh payments firm Kaspi.kz announces London listing plans September 16, 2019 Kazakh financial group Kaspi.kz today announced plans to list in London this year. The offering will consist of a sale of existing shares in the form of global depository receipts by shareholders, Kaspi.kz said today. Read more: London equity capital markets remain resilient despite uncertainties The proposed listing is a boost to London’s stock market [...]
Can you Brexit-proof your investment portfolio? September 16, 2019 The future of Brexit is unknown, but investors and traders need to be proactive if they are to avoid any sudden shocks. Here’s how you might Brexit-proof your investment portfolio. The UK hasn’t left the EU yet, but Brexit is already wielding its influence over the financial markets. For the past three years, investors and traders [...]
Pound jumps past $1.24 on reports DUP could soften backstop stance September 13, 2019 The sterling surged through the $1.24 barrier on Friday morning on renewed hope of a Brexit deal following reports that the DUP could be willing to soften its stance on the Irish backstop. The pound rose by 0.6 per cent to hit a seven-week high despite the ongoing prorogation of parliament. It comes after a [...]
Focus on: Living by the River Thames September 13, 2019 Every September, the River Thames plays host to the Totally Thames festival; a month-long event which sees it taken over by art installations, history tours and performances. It’s a chance for Londoners to reconnect with the body of water that provides the backdrop to our daily lives, and make the most of some of the [...]
M&A activity targeting UK slumps amid no-deal Brexit fears September 12, 2019 Mergers and acquisitions (M&A) activity targeting the UK has fallen almost 40 per cent on the same period last year, with investors slowing down decision making amid ongoing political turmoil. Corporate M&A also tumbled to £15.1bn in the second quarter of 2019, its lowest value since the EU referendum according to data from Mergermarket. Read [...]