UK’s creative industry to get a £15m boost July 30, 2012 THE GOVERNMENT will today announce some £15m of investment into the UK’s creative industries as part of a series of summits taking place during the Olympics aimed at bringing investment to British shores. On the third day of an investment conference intended to show off British media, arts and design, UK Trade & Investment (UKTI) [...]
Retailers shut up shop on the lengthy slump July 30, 2012 INSOLVENCIES fell across the UK in the second quarter, a PwC report shows today, with even the hard-pressed construction sector seeing an improvement compared with the same period of last year. But retailers are still under pressure, defying the positive overall trend as shoppers stayed away from the high street. The three-month period saw 3,927 [...]
PERSONALITY OF THE YEAR July 29, 2012 TODAY we kick off the countdown to the City A.M. Awards with the first of the shortlists – for Personality of the Year. Our awards, now in their third year, have established themselves as a key part of the business calendar, celebrating all of the City’s main sectors and the people that make sure London [...]
Capital Shopping Centres suffers as its rival Shaftesbury prospers July 26, 2012 CAPITAL Shopping Centres, Britain’s largest shopping centre owner, has suffered a drop in rental income in the first half of 2012 as it struggled to re-let shops following a string of retail failures earlier this year. The owner of malls including the Trafford Centre in Manchester and Lakeside in Essex, said like-for-like net rental income [...]
Is the Prime Minister right to predict that the Olympic Games will boost the UK economy? July 26, 2012 YES John Longworth The London 2012 Olympics is a fantastic opportunity to showcase the best of Britain and make it clear to visitors and spectators from across the globe that we are ready to trade with the world. We believe the Olympics will provide a timely confidence boost for businesses, particularly in the retail, hospitality [...]
£5.5m to support high streets July 24, 2012 Nearly 400 struggling town centres have won support from a government programme that aims to help revive high streets. Fifteen will become “Portas Pilots” – named after retail consultant Mary Portas – and will receive investment and support from leading industry figures. Newly announced Portas Pilots in London include Lower Marsh and The Cut in [...]
CITY MOVES | WHO’S SWITCHING JOBS July 24, 2012 Intelligent Environments The digital banking software provider has appointed David Webber as its managing director. He has over 20 years’ experience in financial services software and joins from Patsystems Group, where was chief executive. Houlihan Lokey Magnus Scaddan has been appointed managing director, and head of consumer and retail for Europe, Middle East and Africa, [...]
Hammerson keeps focus on retail ambition July 23, 2012 ANGLO-FRENCH property developer Hammerson said yesterday it is eyeing opportunities to invest in Europe’s depressed property market after recently selling the bulk of its London office portfolio for £518m. The FTSE 100 company, whose portfolio is now 97 per cent retail following the deal with US group Brookfield Office Properties in June, said it had [...]
ANALYST VIEWS | WERE HAMMERSON’S RESULTS IN LINE WITH EXPECTATIONS? July 23, 2012 ALISON WATSON LIBERUM CAPITAL NAV and earnings were marginally ahead and dividend in-line. The underlying portfolio was broadly flat with UK retail parks the poorest performer. Yield expansion across the portfolio was offset by both rental growth from its index linked leases and development surpluses in its French portfolio. JAMES CARSWELL PEEL HUNT Today’s figures [...]
Osborne under fire for lack of reforms July 22, 2012 CHANCELLOR George Osborne yesterday came under renewed pressure to define his economic vision as critics from all sides rounded on the government’s record on promoting growth. Statistics due out on Wednesday are expected to show that the UK economy has shrunk for the third successive quarter, raising questions about the stalling financial recovery. To make [...]