BoE: $5bn leaves Hong Kong funds amid protests December 17, 2019 Political unrest in Hong Kong has triggered traders to pull as much as $5bn (£3.8bn) of capital from the region since April, according to the Bank of England (BoE). The outflows account for nearly 1.25 per cent of Hong Kong’s GDP and began when protests broke out following the proposal of a controversial extradition bill [...]
City of London Group plots £50m capital raise for SME bank December 17, 2019 City of London Group is planning a capital raise of up to £50m early next year to develop its new UK small and medium enterprise bank, the company said as it revealed losses widened in the six months to the end of September. The figures The company’s losses widened from £2.35m to £3.34m after it [...]
Pension funds are putting more money into property debt December 17, 2019 When the Alternative Credit Council recently predicted that the global private debt market will be worth in excess of $1 trillion by the end of 2020, some might have called the claim a little audacious. Only seven years ago, less than £1 in every £10 lent in the UK came from an alternative lender. Today, [...]
WPP offloads stake in sports marketing agency Two Circles December 16, 2019 WPP today announced it has sold a majority stake in sports marketing agency Two Circles to New York-based private equity firm Bruin Sports Capital. Two Circles, which sat in WPP’s Group M division, analyses data on sports fans across the world to create marketing campaigns. It counts the Premier League, UEFA, Formula 1, and Wimbledon [...]
First Group shareholder claims victory as firm weighs sale of US arm December 16, 2019 A major First Group shareholder has welcomed the firm’s decision to consider a sale of its US businesses. The transport giant today said it has appointed advisers to review its US school bus and public transit arms, adding that it will “explore all options” a month after a sinking share price pushed two big investors [...]
Kier appoints new chairman after tough year December 16, 2019 Kier has appointed a new chairman after a turbulent year to date that has seen the struggling outsourcer’s market cap fall more than 75 per cent. Matthew Lester will step down from the board at Barclays to take up the role in January, replacing outgoing chairman Philip Cox. Read more: A huge private equity tycoon [...]
Rightmove: Tory election win will boost UK house prices by two per cent in 2020 December 16, 2019 UK house prices are expected to see a two per cent jump next year following the Conservative Party’s election victory. Prices will benefit from greater home-mover confidence, which has been weakened by political uncertainty since the 2016 EU referendum. However the latest research suggests the housing market will only return to full health when “Brexit [...]
US trade representative: Phase one of deal is ‘totally done’ December 16, 2019 The first phase of a US-China tariff deal is “totally done”, according to US trade representative Robert Lighthizer. Last night Lighthizer said there would be some routine “scrubs” to the text but “this is totally done, absolutely.” Read more: Trump: US to suspend tariffs Speaking on CBS’ “Face the Nation”, he said that a time [...]
Conservative election victory sparks sharp recovery in housebuilder stocks December 13, 2019 The uncertainty surrounding Brexit and the country’s future has long been blamed as a source of the property market’s recent struggles. However a sizeable Conservative majority in the general election has already resulted in a sharp rise in housebuilder stocks. FTSE 100 firm Taylor Wimpey’s share price rose by 11.4 per cent in early morning [...]
Property of the week: An Italian villa for the price of a terrace in Streatham December 13, 2019 There are some types of home that people own, in part, because they sound impressive when dropped into conversation. Villas in the Italian countryside definitely fall into this category. If you too want to show off to your friends, this home which has just come on the market with Casaitalia International can be snapped up [...]