Focus On Victoria: A £4bn investment in housing, retail and infrastructure is making it a destination in its own right February 10, 2017 If the Queen’s getting a £369m refurbishment of Buckingham Palace, it seems only fair that the neighbourhood surrounding it should get a polish, too. £4bn should just about cover it, and that’s how much has been invested in the area by developer Land Securities over the last five years. Around £700bn of that has gone [...]
Greene King reveals sober sales despite gains over the Christmas period February 10, 2017 Sales at British pub operator Greene King grew over the 40 weeks to 5 February due to a strong Christmas period, but it was hit by a "dramatic" slowdown of sales in the quieter months. The figures In a trading statement today, Greene King said like-for-like sales grew 1.1 per cent over the period. For the [...]
ScottishPower is hiking energy prices while British Gas says it will extend its price freeze February 10, 2017 Another Big Six energy provider is raising its prices – this time its ScottishPower. The utility firm said more than a million customers will be affected by the rises. Dual fuel prices will increase by an average of 7.8 per cent, electricity prices will jump 10.8 per cent and gas prices will raise 4.7 per cent. ScottishPower blamed [...]
New Builds: New homes on sale this weekend in Barking, The City, Hampstead, Canning Town and Blackheath February 10, 2017 360 Barking, Barking From £295,000 This collection of one and two bedroom flats on Cambridge Road is in the heart of a soon-to-be “reinvigorated” town centre in east London. Plans are underfoot to turn its riverside into “Barcelona-on-Thames” and these new homes come with underfloor heating, in-built appliances and access to a garden roof terrace. [...]
UK high street records worst January sales performance for four years February 10, 2017 The embattled UK high street has had its worst January of trading for the last four years, according to new figures, with fashion retailers taking the biggest hit. Like-for-like sales on the high street fell by 0.1 per cent in January, as compared to the same month last year, according to figures from accountancy firm [...]
Henderson shares hit as fund manager reports £4bn outflows February 9, 2017 Henderson Group’s shares dropped three per cent on Thursday after the fund manager reported outflows of £4bn last year. The figures Assets under management (AUM) grew 10 per cent during the year, closing 31 December at £101bn, as market gains more than offset the net outflows. The company reported underlying pre-tax profits of £212.7m, down [...]
Here’s how much less millennial men are earning February 9, 2017 Were you born after 1980? Are you a man? You're probably earning less than previous generations were at the same age. Millennial men have earned less than generation X (those born before 1980) every single year of their 20s, new figures reveal. And by the time they reach 30, the cumulative loss in earnings compared to the [...]
DFS warns of margin squeeze due to currency movements February 9, 2017 DFS has flagged that its margins are being eroded due to the fall in the value of the pound. The furniture retailer said that it was offsetting the effect of currency movements by negotiating prices with its suppliers. It also said that its ability to manufacture in the UK gave it a "competitive advantage". The [...]
City Moves for 9 February 2017 – who’s switching jobs? February 9, 2017 McGuireWoods McGuireWoods London has added firepower to its debt finance and derivatives practice with the arrival of partner Jennifer Kafcas, who brings 17 years of experience advising lenders and borrowers in complex structured and cross-border transactions in Europe and the US. She has specialist knowledge of the bond, leverage finance and derivatives markets and documentation [...]
City Moves for 8 February 2017 – who’s switching jobs? February 8, 2017 Today's City Moves cover banking and online travel. Take a look at these movers and shakers: Aldermore Specialist lender and savings bank Aldermore has appointed two leading industry figures to its business finance team to drive further growth in its asset finance lending operations. Patrick Jelly joins the Bank as commercial director for asset finance. [...]