SuperGroup gets ready for a hot autumn with “broadest and best range of jackets” September 4, 2014 SuperGroup boss Julian Dunkerton declared yesterday that sales were back in shape after the colder weather and the approach of autumn drove customers back into its stores. The owner of the Superdry fashion brand posted a 3.7 per cent decline in like-for-like sales in the first quarter of the year to 27 July after facing [...]
Flotations outperform FTSE by over five per cent September 4, 2014 New listings on the London stock market have generated better returns for investors than the FTSE 100 this year, despite some prominent private equity-backed flops, a survey shows. The 28 initial public offerings of shares between the turn of the year and the end of August achieved an average return of seven per cent – [...]
Battersea Power Station kicks off world tour to find retailers September 4, 2014 The owners of Battersea Power Station are to kick-off a worldwide tour to find hundreds of retailers, restaurants and office tenants for the next phase of its development. From November, the Malaysian-owned Battersea Power Station Development Company intends to hold exhibitions in 13 cities across 11 countries, from New York to Milan, Paris, Tokyo, Beijing [...]
City Moves for 05 September 2014 | Who’s switching jobs September 4, 2014 Savills The real estate services firm has announced the appointment of Rupert Phelps to establish a new family office services practice. He joins from BNY Mellon, where he was director of family office services. Phelps has also held senior roles at Euromoney, UBS Global Asset Management and Merrill Lynch. Berwin Leighton Paisner The law firm [...]
Hammerson sells Mayfair HQ for £54m September 2, 2014 Hammerson has sold off its last remaining office building as part of a strategy set out two years ago to focus solely on retail property in the UK and France. The FTSE 100-listed company announced yesterday that it had sold its 50 per cent stake in 10 Grosvenor Street in Mayfair to its joint venture [...]
Billionaires battle it out to build London’s super-sewer August 31, 2014 Tycoons from across the world are bidding to build a £4.2bn “super-sewer” that will travel under the heart of London. The Thames Tideway tunnel, which will be 12.5 miles long and wide enough to accommodate three double-decker buses, is considered to be one of the UK's biggest infrastructure projects. The project will funded [...]
London restaurant Chilango raises tasty £2.2 million with crowdfunded burrito bond August 28, 2014 London burrito restaurant Chilango has raised a tasty sum through its so-called “burrito bond”, which it funded through crowd funding platform CrowdCube. The Mexican food chain raised £2.2m, more than double the amount it was aiming for with the retail bond. Almost 750 investors bought into the four-year mini-bond, which offers a fixed-rate of eight [...]
London Report: Petrofac buoys FTSE but poor store data weighs on market August 27, 2014 BRITAIN’S top equity index yesterday climbed to its highest closing level in nearly two months, with oil and gas services company Petrofac buoyed by positive broker comments. However, supermarkets J Sainsbury and Tesco underperformed after weak sales data. The FTSE 100 index ended up 0.1 per cent, or 7.90 points, at 6,830.66 points. Petrofac rose [...]
Why the future is collaborative for banks and fintech August 27, 2014 THE INTRODUCTION of paper money revolutionised the way we exchanged goods and services. Now, the booming UK financial technology (fintech) sector is fast changing the way we bank, invest and raise money. Thanks to a large and sophisticated consumer market, a high concentration of global financial institutions, and the availability of capital, fintech has found [...]
TK Maxx could be coming to another high street near you following above-expectations growth August 27, 2014 TK Maxx parent company TJX Europe is looking to expand further in the UK and Ireland, after reporting above-expectations second quarter growth. European like-for-likes rose 6 per cent during the three months to 2 August, while adjusted net sales rose 13 per cent year-on-year to $875m (£527m). Globally TJX reported a 7% increase of [...]