Top official warns of ‘disturbing’ amount of Russian money laundering in UK January 25, 2021 One of the UK’s top officials in monitoring economic crime has today warned about the “disturbing” prevalence of Russian money laundering in London, claiming up to half of all money laundered from the country is done through the UK. Graeme Biggar, director general of the National Economic Crime Centre, told MPs today that it was [...]
FTSE 100 closes at three-week low as ministers mull hotel quarantine for arrivals January 25, 2021 FTSE 100 closes at three-week low as ministers mull hotel quarantine for arrivals
Mercato Metropolitano to open three London street food markets this year January 25, 2021 Street food market operator Mercato Metropolitano is investing £35m in expansion plans, as it prepares to launch new sites in London, Europe and the US despite the impact of the pandemic on the hospitality industry. The firm will open a Canary Wharf site and a second market in Elephant and Castle this summer, followed by [...]
London house prices: Which exclusive areas suffered the biggest drop in property values? January 25, 2021 House prices in some of London’s most exclusive neighborhoods plunged due to the coronavirus pandemic, according to the latest research. Sold prices across prime central London postcodes have fallen 10 per cent since the start of the pandemic, while property values across the capital grew three per cent on average. The W1J postcode in Mayfair [...]
London first-time buyers undeterred by Covid and rising house prices January 25, 2021 First-time buyers in London were largely undeterred by the coronavirus pandemic and rocketing prices last year, the latest research found. London’s first time buyer figured dipped six per cent in 2020 as the housing market was closed for months during the first national lockdown. However the slump was the lowest in the capital compared to [...]
Striking a chord: How music rights firms serenaded the stock market January 23, 2021 Anyone who has the misfortune to monitor news updates on the London Stock Exchange will know the name Hipgnosis. Less than a month into 2021, the gauchely-named company has already issued nine wordy announcements. They are not, however, the usual trading updates or dry regulatory disclosures. Instead, Hipgnosis has been on a relentless acquisition spree [...]
When it rains, it pours: Storm Christoph strikes up to £120m of insurance damage across the UK January 22, 2021 UK insurance losses could reach up to £120m in the wake of Storm Christoph with Wales hit the hardest, according to a PwC insurance leader. Residents have been forced to leave their homes and a major incident declared in Wales after enduring the highest rainfall of the four UK nations. Around 80 people, including care [...]
London developer extends stamp duty holiday to October January 21, 2021 London developer Galliard Homes has extended the stamp duty holiday by six months, with the property company footing the bill. The company has extended the holiday to 1 October, while the official government tax break ends on 31 March, amid industry-wide calls for the deadline to be delayed. Galliard Homes said the extension, which applies [...]
Landlord New River bucks trend to collect majority of retail rents January 21, 2021 Commercial landlord New River has bucked the high street trend and collected the majority of rent due in December due to the high number of essential retail tenants in its property portfolio. The real estate investment trust (REIT) said it had received 70 per cent of retail rents due for the fourth quarter, with 10 [...]
Countryside Properties makes progress with separation of housebuilding division January 21, 2021 Countryside Properties is making progress with the separation of its two divisions after a strong performance in the first quarter. The FTSE 250 firm said trading in the three months to 31 December was in line with expectations and is 80 per cent forward sold for the year. Total completions are up 17 per cent [...]