Co-working space startup Huckletree raises £4.5m in second fundraising round October 11, 2017 Co-working space startup Huckletree has announced a funding round of £4.5m with investment manager Meyer Bergman. Huckletree joins the London-based real estate investment group's portfolio alongside retail space marketplace Appear Here and app company POQ Commerce. The latest round of investment follows a £2.4m Series A fundraising in 2015, and will support the London based [...]
Leisure sector calls on government to create dedicated hospitality minister September 27, 2017 The UK’s hospitality sector has called for the government to create a dedicated hospitality minister. Kate Nicholls, chief executive of Britain’s Association of Licensed Multiple Retailers (ALMR), made the proposal at the trade body’s autumn conference today. The idea was backed by bosses of some of the UK’s largest food, drink and recreation companies. Read [...]
World Tourism Day 2017: Travel industry backs London as weaker pound powers boom September 27, 2017 Big players in the travel and tourism industry brushed off Brexit fears to herald London as a top destination today, as the sector celebrated World Tourism Day. Dana Dunne, chief executive of eDreams Odigeo, told City A.M. that weaker sterling “has been very attractive”, boosting visitor numbers to the capital. According to eDreams figures, this [...]
Why we bought Provident Financial September 22, 2017 Provident Financial, the Bradford-based sub-prime lender, has gone up in flames in recent weeks from an investment perspective. Profit warnings and high profile departures have left the company untouchable to most, but it remains attractive to value investors Look up the definition of ‘bad news’. In a dictionary these days it would not be surprising [...]
New government hub to create centre of excellence for public services for 2,900 civil servants September 21, 2017 In July this year, the UK Government announced it had selected Edinburgh’s New Waverley as the centrepiece of a new HMRC HQ function, bringing 2,900 civil service jobs into the historic heart of the city’s Old Town. The new development, adjacent to Waverley Railway Station, will deliver grade-A offices to be occupied by civil servants [...]
Why Paris is on the up: tourism, transport and Brexit September 21, 2017 As Global Cities bloggers and property investors, we track a whole range of factors when compiling the Schroders Global Cities index. Strong tourism and improving transport links are among the essential ingredients for improving a city’s prospects and therefore its attraction to commercial real estate investors. Paris, ranked 16th in the index, is worthy of [...]
Made.com is crowdfunding its next must-have furniture designs September 21, 2017 Made.com, the innovative online furniture retailer, is turning to crowdfunding to unearth its latest must-have designs. The internet startup, co-founded by serial entrepreneur Brent Hoberman and backed by millions in venture capital cash, is tapping the hive mind and boom in popularity around creative projects on platforms such as Kickstarter and Indiegogo. Read more: Podcast: [...]
Toscafund launches €300m fund to invest in unlisted financial and business services companies September 13, 2017 Multi-asset manager Toscafund has launched a new €300m private investment fund, to invest in financial and business services companies around Europe. To head the team, Toscafund has hired Fabrizio Cesario and George Koulouris – both formerly of private equity firm Anacap Financial Partners, a financial services specialist. Read more: Au revoir: Barclays completes sale of [...]
Feeling adventurous: UK private equity firm Inflexion buys Virgin Experience Days September 11, 2017 Private equity firm Inflexion is seeking to cash in on the growing consumer demand for experiences with the purchase of Virgin Experience Days. Virgin Experience Days arranges one-off adventure days for consumers and businesses such as Spitfire flying and supercar driving. The company sells more than 750,000 experiences a year, making revenues of around £50m. [...]
Dress-down Friday? Dress-down every day. The City of London is becoming more casual, with bowler hats out and designer stubble in September 8, 2017 Goodbye bowler hats, brollies and polished black shoes – hello dress-down Fridays, jazzy colours and designer stubble. Dress codes appear to be falling out of fashion in the City of London. Around two-thirds of financial services employees will be allowed to travel into work in casualwear for dress-down Friday today, the results of a new [...]