Sainsbury’s bid for Argos might solve some of Mike Coupe’s problems – but the deal poses significant challenges for landlords January 14, 2016 In a presentation to investors this week, Sainsbury’s outlined its strategy behind acquiring Home Retail Group. Sainsbury’s did caution that the deal would be a “strategically compelling opportunity, and if done at the right price financially compelling”. The 22-page presentation was used to set out the case and try and ease investors concerns. Home Retail Group reported that [...]
London mayoral election 2016: Conservative mayoral candidate Zac Goldsmith vows to give startups retail space in London Underground stations January 14, 2016 Conservative mayoral candidate Zac Goldsmith has said that he will use public land to house startup businesses in the capital, vowing to repurpose Transport for London (TfL) Underground stations to provide discounted space to smaller firms. Goldsmith said today that he will parcel off shop space in TfL’s Underground stations and offer it to retail [...]
CMC confirms it will float on the London stock market earlier than expected in February 2016 and hopes to raise more than £240m, despite market swings January 13, 2016 Spread-betting company CMC Markets today confirmed it was proceeding with plans to float on the London stock market. The long-awaited announcement followed weeks of speculation in the City that financier and former Conservative treasurer Peter Cruddas was looking to take his company public with help from Goldman Sachs and Morgan Stanley, who have been advising CMC on the [...]
Shareholders expect banking giant HSBC to keep its headquarters in London January 12, 2016 Major investors in HSBC think the bank is more likely to remain headquartered in London following changes to the political and regulatory landscape since the bank announced a review nine months ago. Richard Buxton, chief executive of HSBC shareholder Old Mutual Global Investors, told City A.M.: “I do think the mood music changed materially after the [...]
Architect Sir Terry Farrell and Labour councillors hit out at plans for Irvine Sellar’s Paddington Shard January 12, 2016 Farrell called it "too piecemeal and too optimistic" (Source: Sellar Property Group) A storm is brewing over Irvine Sellar’s plans to build a so-called second Shard in Paddington. Westminster Labour councillors have urged the council to reject the planning application submitted in November, saying the that proposals have been “rushed” and miss out crucial information such [...]
Tube strikes: The unions are harming London and the low paid by striking over Night Tube January 12, 2016 When Mike Brown was confirmed as London’s new transport commissioner last September, he might have expected to find a note from his predecessor stating bluntly: “Dear commissioner, I’m afraid there is no money”. While most of the UK economy has adapted to the realities of modern-day austerity, however, the transport unions are apparently yet to [...]
Tube strikes 2016: When are they, how long are they for, who is striking and why? Everything you need to know January 11, 2016 When are the strikes and how long will they last? London will be brought to a halt once again by 24-hour strikes on the Tube, and they're coming pretty soon. The dates to stick in your diary are at the end of January and middle of February. 1. Tuesday 26 January – Wednesday 27 January. 2. Monday [...]
Tube strikes January and February 2016: Drivers’ union Aslef confirms its members will strike alongside RMT this month January 11, 2016 Transport for London and business groups have slammed unions for committing to a further three strike dates, which will bring the capital's Tube system to a standstill yet again. Aslef has confirmed it will join RMT in striking on three dates, after the unions dismissed yet another pay deal put forward by transport bosses. The drivers [...]
Retail bonds: What they offer small cap firms January 11, 2016 Launched in 2010 by the London Stock Exchange as part of its efforts to help firms find new ways to access capital, the UK retail bond market may still be comparatively new. But it has already shown itself to be an attractive way for small to mid cap companies, particularly those with a well recognised [...]
Deal spree to provide relief to the City with Shire on verge of tie-up with Baxalta January 11, 2016 A string of mega deals is set to provide welcome relief to the City after a rocky start to the year saw £85bn wiped off the value of the UK’s biggest firms in the first trading week of 2016. London-listed pharmaceutical giant Shire is on the verge of inking a £22bn deal with US rival Baxalta, [...]