US fintech investor Motive Partners chooses Canary Wharf as its European base March 21, 2018 US growth investor Motive Partners has chosen Canary Wharf as a home for its new European hub. The firm, which focuses on fintech investments and has already made two deals, said it was “essential” to have a base in London due to its status as a fintech capital. “You can’t claim to be an important [...]
Howard Shore, Shore Capital founder, leads $40m investment in new Israeli co-working business Mixer February 26, 2018 Shared workspace business Mixer has just nabbed $40m (£28.6m) of funding in an investment round led by Howard Shore, the founder of investment group Shore Capital. Mixer, based in Israel, is hoping to expand into Europe and the US and has a new site planned in Berlin. Shore will now become chairman of the business, [...]
Citi picks London for latest fintech innovation hub February 11, 2018 Citigroup has selected London’s tech hub as the next site in its innovation lab network, creating new jobs on the fringes of the City. Headquartered in one of WeWork’s shared workspaces in Moorgate, the London innovation lab will employ 75 technologists from different backgrounds. It is the latest in a string of technology hubs set [...]
Delivering the essentials, every day: In defence of the support services sector – and why not all firms are like Carillion February 6, 2018 Cleaning parliament, securing the perimeter fence at Britain’s atomic weapon’s establishment, feeding the nurses and doctors at the NHS’s busiest hospitals, repairing the telephone masts across our isle. These are all services provided by Mitie. We clean, protect, repair and care for the working and leisure environments that 5m people pass through every day. From [...]
Nick Jones’s Soho House primed for $2bn float on New York Stock Exchange February 4, 2018 Private members' club giant Soho House is plotting a $2bn (£1.4bn) float on the New York stock market. Founded by entrepreneur Nick Jones, the network of clubs, restaurants and workspaces has sites across the world, with recent additions including the City's new hotspot The Ned. The company has now hired bankers from JPMorgan and Goldman [...]
Mitie Group share price drops as it reveals another FRC investigation and announces drop in profit and revenue November 20, 2017 Mitie Group has revealed the accounting watchdog has opened another investigation into the group’s financial statements, as it unveils its first half results. The figures Revenue was up four per cent in the first half of 2017, from £922.6m to £959.7m. Operating profit dropped 38.1 per cent to £14.8m from £23.9m. Basic earnings per share [...]
London’s office market is “highly overvalued” and set for a correction, ratings agency Fitch says October 20, 2017 A leading ratings agency has said London’s overvalued office market is set for a correction next year due to Brexit uncertainty. Fitch Ratings said the core London office market had cooled since the Brexit vote last year, but it remains “highly overvalued”. “Tight office supply has supported prices to some extent, while sterling’s weakness has [...]
Co-working space startup Huckletree raises £4.5m in second fundraising round October 11, 2017 Co-working space startup Huckletree has announced a funding round of £4.5m with investment manager Meyer Bergman. Huckletree joins the London-based real estate investment group's portfolio alongside retail space marketplace Appear Here and app company POQ Commerce. The latest round of investment follows a £2.4m Series A fundraising in 2015, and will support the London based [...]
Businesses wasting $1.5 trillion on office space rent costs, says Philips Lighting during World Green Building Week September 25, 2017 Businesses around the world could save a total of $1.5 trillion (£1.11 trillion) in reduced office costs by using space more efficiently, according to analysis by Philips Lighting. Philips is calling for the renovation rate of offices in developed countries to double to three per cent a year. Refurbishing buildings to optimum standards would reduce [...]
The Shard skyscraper has won a new letting as Mitie moves offices September 12, 2017 The Shard, one of London's most iconic skyscrapers, today confirmed office lettings totaling 39,967 square feet. Outsourcing services firm Mitie Group will become the 31st business to move into the 310-metre-high Shard in the first quarter of 2018. The company has agreed a 15-year lease to take the entirety of level 12, which is 29,824 [...]