Chief executive of Jack Ma’s Ant Group steps down March 12, 2021 Simon Hu has reportedly resigned as chief executive of Ant Group after just over a year in the role. Hu resigned for personal reasons according to Bloomberg, and he will be replaced by Ant Group chairman Eric Jing with immediate effect. He joined Alibaba in 2005 before moving to Ant in 2018 as President and [...]
The companies finding the perfect house plant for you March 12, 2021 Before lockdown, house plants were around to brighten up the place. Now for many of us, they are our best friends and sole confidants, helping pull us through the long, lonely days. During the pandemic, sales of indoor plants have spiked, with a host of new subscription delivery services cropping up to meet the demand [...]
Derwent London reports dip in rental income after ‘unprecedented’ year during pandemic March 11, 2021 Property firm Derwent London this morning reported a dip in net rental income for the year, as the vacancy rate for the London office market doubled during the pandemic. Gross rental income for the landlord hiked 5.8 per cent last year to £202.9m, up from £191.7m in the same period last year. However the impact [...]
Technology transfer offers a fast route toward rebuilding the COVID-ravaged economies of low-and-middle income countries March 11, 2021 Technology transfer is a measure of the way in which countries manage their international flows of capital, goods, services, ideas and people. Borders and tariffs in rich countries often impede the economic and technological exchanges that could otherwise accelerate development and growth in poorer nations. Evidence shows that quickly spreading technology and technological knowledge quickly [...]
Exclusive: Teams rival Starleaf plots London float as demand surges March 10, 2021 British video call and messaging firm Starleaf is plotting an initial public offering in London after demand for its services surged during the pandemic, City A.M. can reveal. Watford-based Starleaf, whose platform is used by major corporate clients including the NHS, booked a record year of trading in 2020 amid the shift to home working. [...]
Foxtons revenue rebounds in 2021 after lockdown hit London sales and lettings last year March 10, 2021 London estate agent Foxtons this morning said revenue had boomed at the beginning of this year as the market continued to be buoyed by pent-up demand and the stamp duty holiday. Foxtons said revenue for the first two months of 2021 is “well ahead” of both last year and 2019, with the sales commission pipeline [...]
Habito launches UK’s longest-ever fixed rate mortgages March 10, 2021 Habito has today announced that it will launch the nation’s longest-ever fixed rate mortgage, which will come without early repayment charges or exit fees. The “Habito One” will give buyers of all types access to long-term fixed rate periods starting at 10 years, going up to an unprecedented 40-year fixed rate term. The firm said [...]
Pandemic wipes almost £1bn off Covent Garden landlord Capco’s portfolio March 9, 2021 West End landlord Capital & Counties suffered a sharp drop in its property values last year, wiping almost £1bn of its portfolio. Capco, which owns Covent Garden, reported this morning that its total property value last year was £1.9bn, down from £2.8bn in 2019. The total property value of Covent Garden fell 27 per cent [...]
500 cars and counting: Studio434, Europe’s biggest classic car collection March 9, 2021 Located close to north London, the huge and eclectic Studio 434 collection supplies cars to The Crown, Peaky Blinders, Downton Abbey and more.
Marks & Spencer unveils plans to replace retail space with offices at Marble Arch store March 9, 2021 Marks & Spencer (M&S) has unveiled plans to redevelop its Marble Arch store, with some retail space set to be replaced by offices. Under proposals announced this afternoon, M&S said the lower levels of the West End store would remain as retail space offering its food and clothing and home ranges. However, the upper floors [...]