Rising confidence helps boost commercial property activity June 11, 2014 IMPROVING confidence, a rising economy and easing lending conditions have helped to boost activity in the commercial property sector for the 21st month in a row. According to Savills’ monthly index, which monitors 200 commercial property developers’ activity, showed the net balance stood at 26.9 per cent in May, slightly down on the 23.6 per [...]
Chilango launches burrito bonds to fund expansion with free food June 10, 2014 A MEXICAN food chain has come up with a more appetising way of raising funds for expansion after launching a retail bond that rewards its investors with burritos. Chilango, which was founded in 2007 by ex-Skype executives Eric Partaker and Dan Houghton, launched the new “burrito bond” yesterday on crowdfunding platform Crowdcube to raise between [...]
City Moves for 11 June 2014 | Who’s switching jobs June 10, 2014 BNP Paribas Investment Partners Patrick Mange has joined BNP Paribas Investment Partners as an emerging markets strategist. Since 2009, Mange has been deputy chief executive at Shinan BNP Paribas. He previously worked at Merrill Lynch Capital Markets France, where he was a euro area strategist. Prior to that, he was a senior economist at Deutsche Bank in Frankfurt [...]
Investors flood into TSB shares after low pricing June 9, 2014 Investors had placed orders for all of the TSB shares up for sale by yesterday evening, City A.M. understands. Yesterday morning the shares, amounting to 25 per cent of the new high street bank, were priced at between 220p and 290p each. The price would value the bank at between £1.1bn and £1.45bn, below the [...]
Worst time for EE to tell Carphone Warehouse : We need to talk June 9, 2014 A SWORD of Damocles is suddenly hanging over the head of Carphone Warehouse. The ancient original was suspended by a single hair over a golden throne, a warning of the fragility of life at the top. Carphone Warehouse’s founder Sir Charles Dunstone, who still holds a 23.5 per cent stake, now finds himself looking up [...]
City Moves for 09 June 2014 | Who’s switching jobs June 9, 2014 Allen & Overy The law firm has hired Maria Darby-Walker as global head of communications. For the past nine years, Darby-Walker has acted as an independent communications consultant, and was most recently interim head of internal and external relations at the Financial Conduct Authority. KPMG The professional services firm has announced the appointment of Julie [...]
London Report: Economic data puts focus on UK housing market and growth June 9, 2014 ECONOMIC data out this week is set to shine a light on the UK’s steady return to health after the recession. The Office for National Statistics will tomorrow release April’s manufacturing data, which is forecast to show a 0.3 per cent rise in output. Construction output data – also likely to show a rise for [...]
Kings of Leon: Meet fast food entrepreneurs Henry Dimbleby and John Vincent June 8, 2014 Annabel Palmer talks fast food in heaven with Leon founders Henry Dimbleby and John Vincent BRITAIN’S foodies have never had it so good. Barely a week goes by without a new fad emerging to whet their sweetbreads (most recently, the rise of American-inspired dipping and Korean cuisine); BBC One’s Masterchef becomes ever more delectable as [...]
Government gives green light to redevelopment of Shell Centre June 6, 2014 COMMUNITIES secretary Eric Pickles yesterday signed off on the planned £1.2bn redevelopment of the Shell Centre on the Southbank. The plans for the 1.45m square foot scheme – a joint venture between the Canary Wharf Group and Qatari Diar – have been masterplanned by architecture firm Squire and Partners, and comprise a mix of offices, [...]
After share price crash Asos warns on profits and investors slam Morrisons June 5, 2014 SOME of Britain’s biggest retailers were left reeling yesterday after a profits warning from Asos spooked investors and supermarket bosses came under a fierce verbal attack from angry shareholders. Asos shares crashed 31 per cent, wiping £1.2bn off its market value, after the online fashion retailer warned that a strong pound and a rise in [...]