London’s skyline set for a new building resembling a toast rack September 17, 2013 LONDON’S iconic skyline is set for another overhaul after plans were unveiled yesterday for a new 34-storey office building to house up to 7,000 city workers. Henderson Global Investors, which manages more than $100bn in assets, wants to build the complex in the city’s insurance district at 40 Leadenhall Street. The 910,000 square feet building, [...]
All taxpayers should have a chance to benefit from the Lloyds privatisation September 17, 2013 THE SUCCESSFUL sale of 6 per cent of Lloyds to institutional shareholders was a crucial first step in returning the bank to full private ownership. That the government has been able to obtain a price above the initial purchase price – and well above the price in the national accounts – is particularly positive. Indeed, [...]
Gather round for the Hudl – Tesco’s tablet launch event on the horizon September 17, 2013 On Monday 23 September, Tesco is holding a press event, with speculation that it's the unveiling of a new tablet, the Hudl. The Hudl arrives on the market with a rumoured price tag of £99, taking on Amazon's Kindle Fire and Google's Nexus, and the tagline 'We've got something to show you.' Analysts anticipate a 16GB, [...]
Losses at French Connection but CEO still upbeat September 16, 2013 FRENCH Connection reported slightly reduced first half losses yesterday, as the British fashion retailer continues its attempted turnaround following years of underperformance. Losses fell to £6.1m, compared to £6.3m in 2012, results which chairman and chief executive Stephen Marks said are encouraging. “We have continued to implement significant changes across the business and our new [...]
Lloyds reprivatisation expected to raise over £3.2bn September 16, 2013 A statement from the government agency managing the state's stake in Lloyds has given the green light to the chancellor to begin reprivatising state-backed bank Lloyds. UK Financial Investments (UKFI) has given the nod shortly after the Office for Fair Trading said that TSB should be given more financial help by parent Lloyds. Our banking [...]
Longchamp opens British flagship store September 15, 2013 French luxury goods retailer Longchamp officially opens its biggest store in Europe today, on London’s Regent Street. Kate Moss, pictured here at the store’s opening party on Saturday night, models for the brand. The 5,400 sq ft store is Longchamp’s third British outlet, alongside Westfield London and New Bond Street. The opening is part of [...]
City Moves for 13 September 2013 | Who’s switching jobs September 12, 2013 Aviva Investors The investment management business has appointed Andrew Davey as assistant fund manager to its Lime Property Fund. He joined the company in 2007. Deloitte Real Estate Steve Johns has joined the real estate business to head its City leasing team. Johns previously spent 17 years at Cushman & Wakefield, and was most recently [...]
Entrepreneur of the year September 11, 2013 The City A.M. Entrepreneur of the Year award recognises those individuals or groups who set up a successful new venture and are now growing it as a profitable business. With close to 400,000 new businesses launched in 2013 so far, the spirit for entrepreneurship in Britain is alive and well. From entertainment to retail, our [...]
Letters to the editor – 12/09 – Tesco in the US, Pensions crisis, Best of Twitter September 11, 2013 Tesco in the US [Re: What Tesco’s US debacle tells us about the wisdom of markets, yesterday] Few UK companies can stand up to the price competition and, significantly, service levels of US retail. Even new car dealerships are open up until 10:30pm at night in America. Where else in the world could you find [...]
Business services firm of the year September 10, 2013 In an uncertain economy, companies that are willing to try something different – be that a new management team, an innovative business structure or a better use of technology – are the ones that tend to succeed. This category’s nominees live up to the best of these business services. ODGERS BERNDTSON Some of the biggest [...]