UK general election: what a hung parliament means for markets June 9, 2017 The UK general election has resulted in a hung parliament, with no party commanding an overall majority. The Conservatives have emerged as the largest party and will likely seek to form a minority government. The result is unexpected. Polls during the election campaign had generally pointed towards a comfortable Conservative majority. Our panel of investment [...]
UK retail sales slide as consumers cut discretionary spending, according to British Retail Consortium June 6, 2017 Retail sales fell back again last month as consumers started counting the pennies and cut their discretionary spending. Like-for-like retail sales were down by 0.4 per cent in May, according to figures from the British Retail Consortium (BRC), falling back from the sales boost the sector received over the Easter holiday. Non-food retailers dragged on [...]
What Brexit, the General Election and foreign demand means for London’s commercial property market June 5, 2017 Martin Samworth practically lives on a plane. As the chief executive for Europe, Middle East and Africa (EMEA) for one of the world’s largest property consultancies CBRE, he’s a busy man. In the last few weeks, he has travelled to Madrid, Colorado, Dusseldorf, Tel Aviv, Frankfurt, Lisbon, and New York. The property veteran, who joined [...]
AEW UK long lease real estate investment trust (REIT) raises £80.5m in initial public offering June 1, 2017 AEW UK’s long lease real estate investment trust (REIT) has raised £80.5m in an initial public offering (IPO) on the London Stock Exchange today. AEW UK Investment Management, which is the British subsidiary of AEW Global, said last month it is hoping to raise up to £150m in the IPO. The proceeds are expected to [...]
Leisure will be key to the future of London retail May 30, 2017 London retail has a positive future. Hardly a revolutionary statement in isolation, particularly to the many millions of people who live, work and visit the capital and experience its unparalleled consumer offer. However, there are challenges too: technology, changing shopper habits, and predictions of falling consumer confidence. April saw the biggest quarterly fall in retail [...]
UK jets off with private plane fleet | City A.M. May 22, 2017 The UK has been ranked as the third-largest home in Europe to private jets, with more than 200 such aircraft registered within its jurisdiction. With 223 business jets registered in the UK as of April, according to aircraft retailer Colibri Aircraft, the country ranks behind Germany and the Isle of Man, which boast 404 and [...]
Investors face D-Day in RBS case May 22, 2017 A £125m trial is set to get underway in London today as RBS investors left out of pocket by the bank’s ill-fated 2008 rights issue seek compensation. The case will see Fred Goodwin, one of the most notorious figures of the financial crisis, take the stand. Read more: We’d all be better off if the [...]
Sunday Times Rich List 2017: Who topped the under-30 list, and who lost money this year? May 7, 2017 Singer Adele joined the Sunday Times Rich List of 1,000 richest people for the first time, and was the highest-ranking musician on the young rich list with a £125m fortune. Other musical millionaires on the under-30 list included Ed Sheeran, with £52m, and the boys from One Direction, who ranked higher than their former bandmate [...]
Jerusalem is the world’s top emerging start-up hub. We use a new app to navigate its culinary scene May 2, 2017 Think of Jerusalem and one imagines ancient history, religion, and regional tensions. Not craft beer, tech incubators and model-slash-DJs. It is, I discovered, a city of surprises. In the millennia-old Church of the Holy Sepulchre half a dozen worshippers from a variety of faiths kneel and touch the slab on which, it is believed, Christ’s [...]
London office rents will fall over the next year, experts warn April 27, 2017 Rents for London offices are expected to fall over the next year, experts have warned, despite an overall recovery in the UK commercial property market. Chartered surveyors at the Royal Institution for Chartered Surveyors (Rics) have said that rents in both prime and mid-tier office spaces are at risk over the next 12 months. Read [...]