Tesco store closures: Councils digest shock as Chesnut HQ staff move to Welwyn Garden City and outlets shut January 8, 2015 While investors rejoiced, councils and local planning authorities were left reeling yesterday after Tesco announced it would close its Cheshunt HQ, some existing stores and shelve new planing projects amid a raft of changes aimed at cutting costs. Britain’s biggest supermarket said staff at its north London base would move to its offices in Welwyn [...]
City Moves for 09 January 2015 | Who’s switching jobs January 8, 2015 Savills Matt McCue has been appointed out of town retail director at the real estate services provider. He has over 17 years’ experience in the industry, and joins from CBRE. He will continue to work with both landlord and retail clients at Savills. BNY Mellon The investment company’s wealth management business has appointed Yolande Escher [...]
Tesco soars as M&S suffers a slump on buoyant trading – London Report January 8, 2015 LONDON’S shares rallied strongly yesterday, amid a broad-based global equities rally, with supermarkets topping the FTSE 100 gainers after Tesco outlined plans to try to revive its fortunes. The FTSE 100 closed up 2.3 per cent at 6,569.96. Tesco was the best-performing stock on the FTSE 100, closing up 15 per cent at 209.25p. The [...]
Standard Chartered cuts more jobs as it axes global equities business January 8, 2015 Standard Chartered, the London headquartered bank which focuses on Asia, has announced more job cuts. The bank said it's closing the unprofitable equity sales and research business. This will lead to 200 job cuts worldwide and deliver around $100m in cost savings by 2016. Dismantling its stockbroking, equity research and equity listing desks worldwide will [...]
Boohoo in tears as shares hit by profit warning January 7, 2015 BOOHOO’S shares plunged more than 40 per cent yesterday after the online fashion retailer issued a profit warning, blaming heavy discounting across the UK high street. The company, which made its debut on London’s junior market in March, said price cuts by high street rivals looking to shift jumpers and coats following warm autumn weather [...]
My nine key predictions for the City over the 12 months ahead January 7, 2015 It's with some trepidation that I set out my predictions for the year ahead in corporate Britain, not least because the first of them might appear misguided even by the time you read this. ONE Tesco, which today updates the City on Christmas trading, will be the winner among the food retailing establishment’s “big four” [...]
City Moves for 08 January 2015 | Who’s switching jobs January 7, 2015 Investec The bank’s corporate and institutional banking division has announced the appointment of Florian von Hartig as head of debt capital markets. He joins after nine years at Standard Bank, where he was global head of debt primary markets. JLL UK The real estate-focused professional services and investment management firm has appointed two new sustainability [...]
LondonMetric buys Tesco dark store as online demand expands January 6, 2015 LondonMetric has stepped up its exposure to the UK’s fast-growing online retail market by acquiring a Tesco distribution centre in south London for £21m. The property company said yesterday it has bought the Croydon warehouse from CBRE Global Investors in a deal reflecting an initial yield of 5.5 per cent. The 173,000 square feet online [...]
Peppa Pig maker Entertainment One splashes cash on US deal as finance boss Giles Willits talks expansion plans January 6, 2015 Giles Willits is sitting in the boardroom of Entertainment One’s offices in west London with a family of Peppa Pig cuddly toys gazing up at him. The British TV phenomenon – Peppa Pig, that is – is one of the production group’s most successful exports. But today pigs are forgotten and the group’s jolly finance [...]
The 100 City people you need to follow on Twitter this year, day two: Analysts January 6, 2015 Yesterday, you were inspired by our 20 most important entrepreneurs. Today, we’re giving you some food for thought: our favourite City analysts. Whether it’s retail, property or they’re tasked with deciding on the future of the UK’s airports, this lot can move the market with no more than a swish of their pen. Think we’ve [...]