Westfield and Hammerson’s £1bn Croydon shopping centre clears another hurdle after secretary of state approves compulsory purchase order September 16, 2015 Westfield and Hammerson’s plans to turn the Whitgift Centre in Croydon into a new £1bn retail destination have cleared another hurdle after secretary of state Greg Clark approved a compulsory purchase order (CPO) of the site. The developers are working together to convert the tired 1960s shopping centre and the neighbouring mall Centrale into a two million [...]
Best of the Brokers for 16 September 2015 September 16, 2015 To appear in Best of the Brokers, email your research to notes@cityam.com HOME RETAIL GROUP Haitong Investment Bank has reduced its “fair value” target by 18 per cent to 115p to reflect greater uncertainty over longer term success of Home Retail Group’s modernisation plans for Argos. The broker said that promotional spend in the run-up [...]
LSE looks ahead after it sells tech company September 15, 2015 LONDON Stock Exchange Group yesterday confirmed the sale of its market data provider Proquote to IRESS, an Australian financial software firm. The group said Proquote, which it has owned since 2003, “was not central to its strategy going forward for the enlarged Information Services Division”. The Australian firm said the move was part of its [...]
City Moves for 16 September 2015 | Who’s switching jobs September 15, 2015 BARCLAYS Ian Gilmartin has been appointed head of retail and wholesale for Barclays’s corporate bank. He has over 20 years’ experience and has spent the past five years as part of the leadership in Barclays’ retail and wholesale team. Gilmartin has also held roles at Dresdner Kleinwort Benson and Allied Irish Banks. DELOITTE The business [...]
London property: Luxury development in Camberwell to open books tomorrow September 15, 2015 It might have been relatively neglected in recent years, but south London village Camberwell is next on property developers' hit lists, with a new luxury development being launched this week. Singaporean firm Frasers Property is opening the books for Camberwell on the Green tomorrow, with the sales launch being held at the Pakistan Room [...]
London Fashion Week kicks off as China slowdown is becoming an increasing headache for luxury brands September 15, 2015 Friday marks the start of London fashion week, when luxury brands flaunt their Spring/Summer collections on the catwalk and throw champagne-fuelled parties to celebrate the arrival of the next fashion season. But behind the scenes, the party mood is more subdued as luxury companies nervously assess how great an impact the ongoing economic slowdown [...]
Industry view: Adoption and collaboration are key to defeating the cyber threat September 15, 2015 Cyber-crime is now one of the most serious threats to businesses and national economies. It is rare that a week goes by without a story breaking about a business that has suff ered a cyber-attack. Already this summer in the US, Jeep Cherokee told customers to update their cars after hackers crashed a vehicle, having [...]
Applegreen fills the tank with jump in revenue September 14, 2015 IRISH petrol station retailer Applegreen said yesterday it has made a strong start to life as a public company after reporting a 35 per cent jump in gross profits in the first half. Applegreen made its Aim debut in June with a market value of around £220m, making it one of the biggest floats of [...]
Lidl plots London expansion drive with 280 stores September 11, 2015 German discounter Lidl is going after London middle class shoppers with plans to open a huge swathe of stores in upmarket boroughs, including Notting Hill and Mayfair. The retailer, which has been rapidly gaining market share, yesterday announced ambitious plans to open 280 stores in London and the M25 area. The areas it [...]
Morrisons share price fall drags FTSE 100 index down after closure statement – London Report September 11, 2015 London’s leading shares fell yesterday, with supermarket Morrisons among the biggest fallers. At the end of the day, the benchmark FTSE 100 index was down by 1.18 per cent, or 73.2 points, at 6,155.81. Morrisons shares fell 2.8 per cent after the supermarket said it was closing M Local stores amid falling sales and profits. [...]