Stubborn price rises still above inflation target October 15, 2013 SOARING energy bills helped keep inflation firmly above its target in September, official figures showed yesterday. Prices increased by 2.7 per cent in the 12-month period, above the Bank of England’s two per cent and the same rate as in the year to August, according to the Office for National Statistics’ consumer prices index (CPI). The [...]
London Stone to stand its ground as developer wins planning okay October 15, 2013 THE LONDON Stone, an ancient City landmark, is to stay in its place outside 111 Cannon Street, according to redevelopment plans for the building approved last night. A row broke out last year between 111 Cannon Street’s previous owner Minerva and a number of heritage societies after the developer wanted to move the ancient Grade [...]
Sainsbury’s to open dark store to meet online demand October 13, 2013 J SAINSBURY is to open its first dark store to support fast-growing demand for its online grocery service in London and the south east. The dark store – so-called because it is not open to the public and only fulfils online orders – will open in Bromley-By-Bow, east London, within the next few years, the [...]
Going West: London welcomes a new FX brokerage October 13, 2013 Annabel Palmer meets the founders of Monex Capital, who are targeting tech savvy traders DESPITE the Asian Development Bank lowering its growth forecasts for emerging nations in the region earlier this month, European brokers are launching Asian-based subsidiaries in droves (forex and commodities brokerage MIG Bank, for example, opened a Hong Kong arm this year). [...]
Inside Track: Independent analysts don’t always say what you want October 10, 2013 FOR several months now I have been arguing that an understanding of the new issues market would be enhanced by the presence of independent analysts, writing research about companies coming to market ahead of the first day’s trading. Most of the recent London flotations have gone ahead with no research from any bank that is [...]
Land Securities sells RBS offices on the South Bank for £315m October 10, 2013 LAND SECURITIES has sold Royal Bank of Scotland’s flagship offices on the South Bank to M&G Real Estate in a £315m deal. The FTSE 100 landlord said yesterday it has exchanged contracts to sell Bankside 2&3, which are let to the bank until 2027. The 380,000 square feet offices, which sit next to the Tate [...]
New homes hoping to entice families to live in leafy London October 10, 2013 Regeneration project Edgware Green nestled in among four parks, golf, cricket clubs, and tree-lined boulevards IF YOU’RE looking for somewhere leafy to put down roots, you may find a new suburban development in north west London hits the spot. Edgware Green, in Green Lane, on the border of Edgware and Stanmore, is a new-build regeneration [...]
Privatised Royal Mail floats at 330p as any wanting more than £10,000 of stock get turned away October 10, 2013 Allocation details for the biggest privatisation since the 1980s have been released. Royal Mail shares have sold at 330p. All members of the public who applied will get £750 of shares, but anyone who applied for over £10,000 will get nothing. 67 per cent of shares will go to institutions (as opposed to the 70 [...]
Royal Mail share sale oversubscribed as 700,000 apply October 9, 2013 MORE than 700,000 individual investors have applied for shares in Royal Mail, Vince Cable announced yesterday, making the sale one of the most popular privatisations in British history. The Lib Dem business secretary also confirmed that the retail offer is seven-times oversubscribed, making it highly unlikely that would-be investors will receive their full allocation of shares. [...]
Investors scramble for Royal Mail shares October 8, 2013 ROYAL Mail last night shut the order book on its historic £3.3bn privatisation, with the postal service’s 497-year stint as a public body set to end when it joins the London Stock Exchange on Friday. Unprecedented demand has seen hundreds of thousands of retail investors scrambling for shares in the massively oversubscribed state sell-off, the biggest [...]