Spanish retail billionaire zeroes in on £600m London building deal December 2, 2019 A Spanish retail billionaire who owns fashion chain Zara is close to acquiring a West End office block for £600m. Amancia Ortega, via his real estate investment vehicle Pontegadea, is set to acquire The Post Building a 320,000 sq ft development in an ex-Royal Mail sorting office on Museum Street in Holborn. A deal is [...]
Nomura chief executive steps down after seven years in the role December 2, 2019 Japanese investment bank Nomura today announced that chief executive Koji Nagai, who has led a seven-year restructuring effort, will step down. According to a statement from the group, Nagai will be replaced by current chief operating officer Kentaro Okuda on 1 April. Read more: Japanese investment bank Nomura cuts around 100 jobs in the City [...]
How Thriva is putting its customers’ health to the test December 2, 2019 Standing in the middle of a street in Farringdon, it’s hard to know if I’m in the right place. After scanning the list of businesses by the side of the door, I finally spot the name Thriva, and enter a reception-less building where I’m meeting co-founder and chief executive Hamish Grierson. Thriva specialises in blood [...]
Hong Kong protesters should be welcomed December 2, 2019 What connects China’s systematic abuse of human rights with the Tory party’s commitment to a “global Britain” post-Brexit? The answer is Hong Kong. Even before the protests of recent months captured the world’s attention, China’s erosion of civil liberties in Hong Kong and its sprawling security presence meant that the rights and freedoms which the [...]
The Xmas endgame: Why retailers are wasting their money on Christmas TV adverts December 2, 2019 An estimated £6.8bn has been spent on creating and buying airtime for this year’s crop of Christmas commercials — up nearly five per cent on last year’s spend. Certainly, the ads boast high production values, but was this money well spent, or would these brands have been better off holding onto the cash and hoping [...]
Daily Mail owner buys i newspaper for £50m November 29, 2019 The owner of the Daily Mail has snapped up the i newspaper for £49.6m, bringing to an end part of a drawn-out sales process by publishing group JPI Media. The Daily Mail and General Trust (DMGT), which also owns Metro, announced the acquisition in a short statement released today. Read more: Publishing group Reach pulls [...]
Who’s buying UK shares and what does it tell us? November 29, 2019 High demand for UK-quoted companies from large and experienced buyers suggests other investors may be overlooking an opportunity. Will a UK general election on 12 December help break the Brexit stalemate? Possibly, possibly not. The ongoing uncertainty means investors of almost every stripe remain cautious about buying UK equities (shares). I stress ‘almost’ because some [...]
Npower announces major restructuring which could cost 4,500 jobs November 29, 2019 Struggling energy firm Npower today announced a restructuring of its UK business that could cost thousands of jobs. Unions sources said the shake-up could lead to 4,500 UK job losses and the closure of a number of call centres, the Mirror reported. Yesterday, Npower reported that it had lost 261,000 customers in the third quarter, [...]
Boris Johnson says David Cameron government’s austerity was a mistake November 28, 2019 Boris Johnson has lashed the Cameron government for six years of austerity, saying the policy direction was a mistake. The Prime Minister hit out at the keystone economic policy of the Cameron years, comparing it to post-war food-rationing by then-Labour chancellor Stafford Cripps. Read more: Boris Johnson apologises to Muslim community He told The Spectator: [...]
Dominic Cummings is quitting government, but not for the reason you think November 28, 2019 Reports of Dominic Cummings’ political death have been greatly exaggerated. It was first reported by The Guardian last night that the controversial special adviser (spad), and Brexit campaign mastermind had resigned three weeks ago. Read more: In defence of my friend Dominic Cummings Social media was humming this morning with news of Cummings’ demise, with [...]