City Moves for 19 November 2013 | Who’s switching jobs November 18, 2013 Knight Frank The property company has hired Liz Crawford as an associate within its healthcare team. She was most recently at Humberts Leisure, where she was a director. Prior to that, Crawford was head of licenced and leisure at Lambert Smith Hampton. Axa Investment Management The investment management business has recruited Shajahan Alam as a solutions [...]
Entrepreneurs now have their own pressure group – at last November 18, 2013 LISTEN up, entrepreneurs: you are about to get your own trade union. Yes, you read that right – a union, or at least a pressure group, specifically set up to fight for those who create and set up businesses. This new Entrepreneurs’ Alliance is an excellent idea. There are lots of groups that support established [...]
Housing market cools for winter but price growth beating wages November 17, 2013 HOUSE prices this month are still up four per cent on November last year, despite a small seasonal dip from October. According to Rightmove’s latest house price index, London prices are up by 6.9 per cent in the same period. In the year to September, average weekly earnings only rose by 0.8 per cent. Between [...]
Startup springboks who let the idea come to them November 17, 2013 Annabel Palmer meets Leon Blitz and Brad Fried, lifelong pals behind investment firm Grovepoint MOST entrepreneurs start with an idea – be it reinventing the wheel or simply finding a way to do something better than anyone else out there. The hard part is then taking the first steps – shunning job security for months [...]
Inside Track: The new issues market hits the first signs of trouble November 14, 2013 WHAT a difference a week makes. Last week I reported on a piece of research from Deloitte, the business advisory firm, on the storming performance of 10 main market flotations in 2013, including Royal Mail obviously, showing how their overall share price performance had outperformed the wider market seven times. This week the talk has [...]
RAC scotches imminent market float with debt refinancing November 13, 2013 THE OWNER of UK breakdown service RAC has ruled out floating the company on the stock market after refinancing some of its debt instead. Carlyle Group, the US buyout giant, is taking out a new £86m loan to help fund a so-called dividend recapitalisation, which allows buyout groups to extract money from a company they [...]
British Land is upbeat after it outpaces rival November 13, 2013 BRITISH Land outshone its biggest rival Land Securities yesterday after the property giant reported a strong rise in rents and values across both its office and retail empire. The owner of the Cheesegrater skyscraper in the City said its net asset value (NAV) per share – a key industry measure of performance – rose 4.5 [...]
Rental bill for New Bond St soars November 12, 2013 RENTS in London’s New Bond Street have surged by more than 15 per cent over the past year as the location climbed from sixth to the world’s fourth most expensive shopping thoroughfare for retailers. Retailers on Britain’s prized shopping street paid an average rent of $1,047 (£657) per square foot over the last twelve months, [...]
Amazon plans Sunday deliveries in London as part of new service November 12, 2013 AMAZON will roll out Sunday deliveries across London by the end of November using its own trucks to complete the so-called last mile to customer’s doors, according to the Wall Street Journal. The project was announced as part of a US trial starting this week in which Amazon Prime customers can use their free two-day [...]
Fund manager Tritax launches £200m float to buy big boxes November 12, 2013 COMMERCIAL property fund manager Tritax yesterday announced a £200m flotation to launch the first listed pure “big box” UK real estate investment trust (REIT). “Big boxes” are massive warehouses – typically bigger than 500,000 square feet – and Tritax said it would let them to “institutional-grade tenants” on long-term leases of up to 25 years. [...]