Exclusive: Demand for prime London office space jumps as return to workplace looms May 12, 2021 Businesses are seeking high quality office space as they prepare to bring staff back to the workplace, with prime property deals rocketing over the last six months. While many firms are contemplating a mix of office and home working after the pandemic, the race is on to offer employees top spec work space after Covid [...]
City Moves: Who’s switching jobs in the Square Mile this week? May 12, 2021 City A.M.‘s Millie Turner provides a roundup of the most important hires and job moves across the City, every Wednesday afternoon. Email citymoves@cityam.com to be featured. Capital Group strengthens UK sales team Investment firm Capital Group, which has £1.7 trillion assets under management, has expanded its UK financial intermediaries team this week by hiring a new managing [...]
TP ICAP reports revenue drop in the first quarter after market volatility May 12, 2021 TP ICAP reported a decline in first-quarter revenue, reflecting the extent of the impact of the pandemic on markets. The interdealer broker posted a nine per cent fall in revenue to £483m from £530m a year earlier, which the company said reflected the volatility of the market in March last year. It noted revenues in [...]
Social care reform must do more than prop up of a broken system with a bottomless pit of money May 12, 2021 Cries of a missed opportunity for social care reform have been rife following the Queen’s Speech but let’s be honest, we knew it was coming. It doesn’t make the pill any easier to swallow. It’s more than a missed opportunity. It’s an absolute disgrace for a system that has borne the brunt of the catastrophic [...]
London rents fall to most affordable level in a decade May 12, 2021 London rents have fallen to their most affordable level in a decade due to a drop off in demand during the pandemic. While demand has ticked up since lockdown restrictions have lifted – by seven per cent in inner London – affordability is running at a ten-year high. Rental prices in London are down 9.4 [...]
City Corporation agrees let for the world’s very first ‘MONOPOLY LIFESIZED’ attraction May 11, 2021 The City of London Corporation has today (11 May) announced it will be hosting the world’s first ‘MONOPOLY LIFESIZED’ attraction within its building at 213-215 Tottenham Court Road. Hasbro, Inc and Gamepath (a new division of international theatre producer Selladoor Worldwide) have released the initial details of the ‘MONOPOLY LIFESIZED’ experience – which is due to open in London on 14 August 2021. The [...]
Myth-Busting: Money printing must create inflation May 11, 2021 London ranks ninth on the UBS Global Real Estate Bubble Index for residential properties. Like in many other countries, property prices in the United Kingdom reached an all-time high in 2020. A global pandemic with sudden mass unemployment should have forced UK citizens to sell their homes, but the furlough policies, stamp duty holidays, and record-low interest rates [...]
Landlords vs retailers: What the New Look legal case means for future of CVAs May 10, 2021 New Look today defeated a legal challenge to its restructuring plan by a group of its landlords in a landmark case that experts say will clear the way for other retailers to use Company Voluntary Arrangements to combat the impact of the pandemic. The ruling is likely to deepen tensions between tenants and landlords, as [...]
Wall Street closes lower on inflation jitters May 10, 2021 Wall Street closed lower on today as inflation fears drove investors away from market-leading growth stocks in favour of cyclicals, which stand to benefit most as the economy reopens. Industrial and healthcare shares limited the Dow’s decline but the blue-chip average reversed course late in the session to snap a three-day streak of record closing [...]
UK house prices hit new record high after growing at fastest rate in five years May 10, 2021 UK house prices grew at the fastest pace in five years last month as the stamp duty holiday continued to buoy the market. Average house prices in April reached a new record high of £258,204, an annual increase of 8.2 per cent and a monthly rise of 1.4 per cent. Almost £20,000 has been added [...]