BBC sells White City site for £87m to Stanhope and Japanese firm Mitsui Fudosan June 5, 2015 The BBC has announced the sale and sublet of its Media Village site in an £87m deal with Stanhope and Mitsui Fudosan. Read more: BBC offers James May and Richard Hammond £1m to stay Following an 18-month negotiating process, four acres of freehold land will be sold and six buildings in White City leased as part [...]
J Crew sales facing sales dip June 4, 2015 Sales have fallen at US clothes retailer J Crew, which opened its flagship European store in London in 2013. Its J Crew brand, which accounts for around 90 per cent of total sales, faced a sales dip of five per cent to $508.7m in the quarter ending 2 May. Its net loss widened to $462.4m, [...]
City Moves for 5 June 2015 | Who’s switching jobs June 4, 2015 AIG The insurer has announced the appointment of Angus Marshall as mergers & acquisitions (M&A) manager for the UK. He joined AIG in 2013 as an M&A underwriter. Marshall has also held positions in PwC’s international tax and M&A practice and in Norton Rose Fulbright’s private M&A division. Edmond de Rothschild Philippe Jouard has been [...]
London now has its own £1 café Caffix on Newman Street in Fitzrovia June 4, 2015 It could be argued, in a city where there's a Pret or Starbucks on every corner, we've already reached peak café. But Caffix, on Newman Street in Fitzrovia, is differentiating itself by pricing every single item at just £1. Customers can grab breakfast snacks such as porridge, pastries and yoghurts as well as lunch items like sandwiches, baguettes, noodle [...]
A third of all new businesses will be pop-ups by 2017 June 3, 2015 It seems the pop-up revolution has well and truly begun, after new research showed 11.6m people plan to start their own business ventures within the next two years and 29 per cent of those plan to start out with pop-ups. The study, by EE, showed pop-ups, shops that open short-term businesses in available retail space, [...]
City set for a decade of job growth as finance and technology hiring to soar in London June 2, 2015 Booming finance and technology hiring will help create 145,000 new jobs in central London over the next decade in a sustained bounce-back from the financial crisis, according to a study out today from the City of London Corporation. The Square Mile can expect an additional 39,000 workers, with the remainder created across the other central [...]
Stock exchange reshuffle puts Inmarsat in FTSE 100 June 2, 2015 Troubled banknote printer De La Rue is likely to tumble out of the FTSE 250 less than a week after it posted a £20m decline in profits during the last financial year. The London Stock Exchange (LSE) yesterday announced several potential changes to its indices, with supermarket group Morrisons expected to move from the [...]
Retail giants aim to go the extra mile June 2, 2015 Online demand is moving retail sheds closer to town THE BOOM in online retailing has created a scramble for small plots of land close to city centres that can be used as nimble distribution hubs for the click-and-collect generation. Vast 500,000 square feet to 1m sq ft warehouses at the heart of the countryside were [...]
LondonMetric embarks on £26m shopping spree at Marks & Spencer June 2, 2015 LondonMetric said yesterday that it has snapped up a portfolio of five M&S Simply Food stores for £26m, as it boosts its exposure to the booming convenience market. The FTSE 250 retail and distribution warehouse speciality said the acquisitions come on top of a recent letting of 11,300 sq ft to M&S for 20 years [...]
City Moves for 3 June 2015 | Who’s switching jobs June 2, 2015 Fairstone Group The financial advisory business has appointed Hannah McGivern as marketing manager. She joins from Gardiner Richardson, a creative communications agency, and has also held positions at Bond Dickinson and Newcastle Science City. MSCI Antti Savilaakso has been appointed European head of environmental, social and corporate governance (ESG) research at the research-based indexes and [...]