Shawbrook: Underlying profit dips as challenger bank’s margins narrow August 8, 2024 Challenger bank Shawbrook has reported a dip in underlying profit for the first half of 2024 as looming interest rate cuts from the Bank of England narrowed its lending margins.
Property law transactions at historic lows but firms ‘must prepare’ for growth August 8, 2024 Transactions at property law firms have sharply slid back to pandemic-era lows this year, but firms expect Labour’s housing reforms, as well as falling interest rates, to create an onslaught of cases in the coming years. New research by legal data supplier Search Acumen, shared exclusively with City A.M., has found that total transactions across [...]
Slack continues to build in jobs market but employers look to ‘green shoots’ August 8, 2024 The survey pointed to a subdued demand for staff as a key reason for the decline in permanent placements, which extended the downturn to nearly two years.
Flight to quality gets underway as half of London offices set to be ‘unlettable’ by 2027 August 7, 2024 Changes to energy efficiency requirements mean that a majority of office spaces in the capital won’t meet the minimum standard for leasing within the next four years, making it a race to re-fit before 2027. Minimum energy efficiency standards (MEES) currently require that rented commercial properties in England and Wales have a minimum EPC rating [...]
Volvo: Record-breaking year for car maker as UK sales near £2bn August 7, 2024 Volvo's UK sales jumped closer to the £2bn mark after another record-breaking year, it has been revealed in newly filed accounts.
The Notebook: Why financial firms should pay more attention to first-time investors August 7, 2024 Where the City’s movers and shakers have their say. Today, it’s Max Rofagha, CEO of Finimize, with the pen, talking first-time investors, the Tiktok Olympics and what to add to your reading list As interest rates come down, what do we need to know about first-time investors? Following the Bank of England’s first rate cut [...]
TP ICAP: Broker’s shares jump to three-year high after profit beat and fresh buyback August 7, 2024 Shares in inter-dealer broker TP ICAP jumped as much as 15 per cent on Wednesday after its half-year profit beat market expectations and it launched a third share buyback programme.
Toyota: Interest payment rises help sales accelerate towards £1bn at European arm August 7, 2024 Sales at the European arm of Toyota have accelerated by almost 50 per cent to almost £1bn during its latest financial year, it has been revealed. The car making giant, which also sells Lexus cars, has posted a total revenue of £941.7m for the 12 months to March 31, 2024, according to newly-filed documents with [...]
Property Franchise Group heralds ‘transformational’ growth after Belvoir deal August 7, 2024 The Property Franchise Group (TPFG), which operates brands including Hunter’s and Ellis & Co, has announced booming revenue following the acquisition of Belvoir and Fine & Country. Aim-listed TPFG, which merged with Belvoir earlier this year in a £110m deal , is the UK’s largest multi-brand property franchiser. The deal appears to have paid off, with group revenue [...]
Wealth manager Quilter posts record adjusted profit as investors’ nerves ease August 7, 2024 FTSE 250 wealth manager Quilter has reported a record adjusted profit amid a recovery in net inflows and improvements in global equity markets.