Foxtons: London estate agent boosted by strong property market October 24, 2024 London estate agent Foxtons delivered a third quarter of consecutive growth over the last three months, with revenue climbing eight per cent. Revenue at the estate agent climbed to £47.4m for the three months to 30 September, bringing total revenue for the nine months to the end of September to £125.9m, 10 per cent higher [...]
Arm set to cancel chip design licence for Qualcomm October 23, 2024 Qualcomm has accused British chip designer Arm of strong-arm strategies after the company said it would cancel its chip design licence with the American manufacturer. Qualcomm, which uses Arm’s designs for its chips, claimed on Tuesday the move was an attempt to hike royalty rates. It also said it could disrupt an ongoing intellectual property [...]
Home REIT set to pay off Scottish Widows debt in step toward closure October 23, 2024 Scandal-hit homeless housing investor Home REIT said it was on the cusp of paying off its debts to Scottish Widows this morning after offloading swathes of its property portfolio at cut prices this year. In an update to the market today, the former FTSE 250 firm said it had sold another 11 per cent of [...]
Sony Music ramps up push into gaming October 22, 2024 Sony Music is doubling down on a push into gaming by embedding its music technology across the sector following a string of acquisitions it hopes will boost fan engagement and open new revenue streams for both the company and its artists. During its Immersive Tech Day in London on Tuesday, the digital entertainment giant showcased [...]
Autumn Budget: Which taxes will Rachel Reeves hike? October 22, 2024 With the Autumn Budget set to be delivered in just a few days, speculation about which taxes Chancellor Rachel Reeves will opt to raise has reached fever pitch. On entering No 11 Downing Street, Reeves commissioned the Treasury to conduct a thorough spending audit, which she claimed unearthed a “fiscal black hole” of £22bn, paving [...]
IHG: Holiday Inn owner reports room revenue growth October 22, 2024 Holiday Inn owner IHG’s revenue per available room was positive over the last quarter, despite concerns over its performance. In a third quarter trading update, Intercontinental Hotels Group reported global RevPAR, a key metric for the hotel industry, of 1.5 per cent. RevPAR in the UK grew by 2.2 per cent over the quarter, above [...]
A warning to Reeves: These tax rises will damage UK competitiveness October 22, 2024 Not only is the UK tax burden at record levels, but we are raising money in a more damaging way than our competitors. And the Budget could be about to make things even worse, says Daniel Herring Next week, Rachel Reeves needs to try not to make the UK’s tax system worse. Yesterday the US-based [...]
Number of UK house sales jumped by a third after rates cut, before Budget October 21, 2024 Despite uncertainty about the coming Autumn budget, buyers continued to pile into the property market after the Bank of England cut interest rates, with the number of homes sold up by a third year on year. The number of sales agreed rose by 29 per cent, while the number of potential buyers contacting estate agents [...]
Lendinvest taps Barclays, HSBC and BNP for £300m financing October 21, 2024 Lendinvest has renewed a £300m financing deal with Barclays, HSBC and France’s BNP Paribas as the property fintech looks to return to profitability. The AIM-listed firm said the revolving warehouse financing agreement, shared equally between the three banks, had been extended for an additional three years on what it called improved terms. LendInvest said the [...]
Abbey Road Studios is looking for the next Spotify October 21, 2024 When The Beatles recorded 190 of their 210 songs at Abbey Road Studios in west London, they pushed the boundaries of the primitive equipment at the time They experimented using tape machines in ways they weren’t designed for, pulling all-nighters to create the iconic distorted sounds of tracks like “Revolution”. It was a revolution not just [...]