Long overdue report on RBS turnaround unit finally lands on watchdog’s desk October 5, 2016 The City watchdog has revealed it has received a long-awaited final report into RBS' old business turnaround unit. The Financial Conduct Authority (FCA) had initially been expected to publish review outcomes into RBS' now defunct Global Restructuring Group (GRG) by the end of 2015. However, the report, which is being compiled by "independent skilled persons" Promontory Financial Group [...]
Business travelers fork out more to stay near the City, study shows October 4, 2016 Business travelers were still prepared to pay more to stay near Canary Wharf and the Square Mile despite increased uncertainty ahead of the EU referendum. A bi-annual report by HRG — the global travel company — showed that average room rates for business travelers leapt in the Docklands and the City by 6.9 per cent [...]
Theresa May under Brexit pressure ahead of Conservative Party conference October 1, 2016 Westminster watchers are again decamping for a few days of agenda-setting speeches, hard-hitting policy debates, backroom lobbying and late night parties as the Conservative Party conference kicks off in Birmingham tomorrow. Despite the raft of pre-conference announcements, including a new review into employment law and the ditching of some mandatory medical tests for people deemed [...]
New homes on sale this weekend at one of the tallest residential towers in Europe and a historic mansion in Hampstead September 30, 2016 South Quay Plaza, Canary Wharf From £695,000 The arrival of Crossrail trains at the latticed Foster + Partner-designed train station in Canary Wharf will be a “gamechanger” for the area, according to Berkeley Homes. That’s why the developer has chosen the business hub– and the station’s Sterling Prize winning architects – to create its tallest [...]
Britain’s most expensive streets revealed: Zoopla unveils rich list of top 10 priciest neighbourhoods in London September 30, 2016 The UK's top 10 most expensive neighbourhoods are all still in London and they're all still eye-poppingly pricey – but they are getting cheaper. Well, some of them. Top of Zoopla's property rich list is Kensington Palace Gardens, W8, where the average property will set you back £38.3m, followed by The Boltons in SW10, where a [...]
Royal Bank of Scotland reveals plans for new structure to comply with UK ring-fencing requirements September 30, 2016 Royal Bank of Scotland Group (RBS) has set out its plans to restructure in order to comply with UK ring-fencing regulations. Legislation requiring the separation of essential banking services from investment banking services will take effect from 1 January 2019. RBS said today that in order to be compliant with its requirements, "we need to [...]
City of London braced for £2bn business rate hike September 29, 2016 The City of London is bracing itself for a tax hike estimated at more than £2bn when new business rates are revealed tomorrow. Details of new business rates represent the first re-evaluation since 2010. Due to rocketing rents in London over the past six years, businesses in the capital are expecting huge increases for the [...]
Jacksonville Jaguars: London’s unofficial NFL franchise, their plans to put down roots in the capital, and the threat Tottenham Hotspur pose to their British affair September 28, 2016 More than three years have passed since Mohamed Al Fayed, in a fitting coda to his eccentric reign, donned an oversized fake moustache and faced the cameras with Shahid Khan to mark the bewhiskered American sports mogul’s takeover of Fulham Football Club. It marked the second play of Pakistan-born, Florida-based Khan’s incursion into the capital’s [...]
Zara owner Inditex posts sales rise of 11 per cent September 21, 2016 The world's biggest clothing retailer – which owns brands such as Zara, Bershka and Pull & Bear – reported a like-for-like sales rise of 11 per cent this morning. Total sales increased to €10.47bn (£8.99bn) for the period from 1 February to the end of July. Profits jumped eight per cent annually, reaching €1.26bn (£1.08bn). Analysts had [...]
West End gets Brexit boost from overseas shoppers as sales to tip over £9bn for the first time September 21, 2016 Overseas shoppers are flocking to the West End to spend their cash since the fall in the value of the pound – and the Brexit boost is set to tip sales for the district over £9bn this year. Jace Tyrrell, chief executive of the West End lobby group New West End Company, says London's premiere shopping district [...]