Westfield ramps up expansion with launch of $2.5bn projects August 27, 2015 AUSTRALIAN shopping centre owner Westfield is gearing up its expansion with plans to kick-off $2.5bn (£970m) of projects this year, including its £600m extension of Westfield London. The retail giant spun off its Australian and New Zealand operations into a separate business last year to focus on its growing international business. Westfield’s joint chief executives [...]
China’s stock market turmoil could spell bad news for London flotations August 26, 2015 When China sneezes, IPO-hungry investment bankers in London catch colds: it’s not quite as catchy as the original epithet, but it contains a distinct ring of truth. China’s stock market turmoil is unlikely to be a short-term phenomenon: the schizophrenic exhortations of Beijing to simultaneously beware of, and embrace, the ultimate expression of a [...]
Discover a local bar with more at The Coach Makers Of Marylebone August 26, 2015 London, once a collection and a few spots still manage to retain that village feel. One of those is Marylebone, where an enlightened landlord ensures that the high street is still today blessed with an impressive selection of independent retailers, who get priority over the regular chain stores. And as every village ought to have [...]
TfL Tube strike 26 and 28 August 2015: Driverless trains would break the militant unions forever August 23, 2015 This week, fed-up Londoners will be forced to endure two more Tube strikes. And this despite Transport for London having already offered the unions: a two per cent salary increase this year, inflation-protected rises in 2016 and 2017, a £500 bonus for all staff on Night Tube lines, £200 extra per Night Tube shift for [...]
Perfect timing August 23, 2015 Harriet Green talks pub food, capitalism and the importance of shiny things with Watchfinder’s Lloyd Amsdon When I ask Lloyd Amsdon’s seven year-old step-daughter if she knows what an entrepreneur is, she draws a blank. It may be age-related, but there’s no reason why she would have heard the word. “I’m only an entrepreneur when I’m [...]
The super-rich paying a £50,000 deposit to RENT in London August 20, 2015 With rising house prices placing home ownership out of reach for many and overseas investment rife, London’s lettings market is booming. But the commonly-painted picture of young professionals struggling to pay for their grotty house share in Dalston only tells one side of this increasingly complex story. For competition isn’t only fierce at the affordable [...]
Asda promises turnaround after sales hit rock bottom August 19, 2015 ASDA chief executive Andy Clarke insisted that the company was seeing the first “green shoots” of a recovery despite revealing its worst ever quarterly result in the 16 years it has been owned by US chain Wal-Mart. The supermarket chain, which recently lost its position as Britain’s second-largest food retailer to Sainsbury’s, said like-for-like sales [...]
Network Rail is poised for £1bn sale of properties including Vinopolis site and Brixton arches August 16, 2015 Network Rail has taken the first step towards selling off its £1bn commercial property portfolio after hiring bankers to conduct a review of its estate. The government-backed organisation, which runs all of Britain’s rail infrastructure, confirmed that it is working with boutique investment bank Rothschild to explore ways in which it can “make more [...]
London bucks trend as high street suffers August 16, 2015 HIGH street retailers and shopping centres face a growing struggle due to the shrinking number of consumers visiting their stores. Retail footfall dropped 1.1 per cent in July compared with the same month last year, according to figures released today by the British Retail Consortium (BRC) and Springboard. Greater London was the only region to [...]
Poundland’s bosses fail to get bonuses August 14, 2015 BOSSES at UK discount retailer Poundland did not receive a bonus for 2015, despite both sales and profits at the company improving last year. Poundland’s annual report said the bonus payments were “self-funding” and “as such, this year’s underlying profit after tax achievement of £33.95m did not trigger payment of bonuses to colleagues.” The company’s [...]