Shares fall at shopping centre owner Intu as it warns on rental profit May 3, 2019 Shopping centre developer Intu's share price fell 6.7 per cent this morning as it warned 2019 losses may be worse than expected this morning as the troubled property firm battles with a challenging retail environment. Read more: Intu sells major stake in Derby shopping centre to cut debt The company, which welcomed former finance boss [...]
City Moves for 3 May – Who’s switching jobs at Ikea, EIP and McLarens? May 3, 2019 Today's City Moves includes Ikea, EIP and McLarens. Ikea Ikea has announced the appointment of Peter Jelkeby as country retail manager with responsibility for the UK and Ireland. Taking over from Javier Quinones, who joins Ikea USA as country retail manager, Peter will continue to strengthen Ikea’s position as the number one home furnishing retailer [...]
City Moves for 2 May – Who’s switching jobs at Santander, Intertrust and Bristows? May 1, 2019 Today's City Moves includes Santander, Intertrust and Bristows. Santander UK Santander UK has announced the appointment of Ben Covey as head of private banking, reporting directly to Charlotte Platts, head of wealth. Ben will take up his position from 1 May and will be responsible for the direction and growth of the private banking proposition [...]
UK house prices suffer fifth month of ‘subdued’ growth amid Brexit uncertainty May 1, 2019 UK house price growth remained flattened in April, as the annual price growth rate rose less than one per cent, the latest data showed today. Read more: London house prices plunge in blow to UK housing market UK house price growth remained quiet in April, as the annual price growth rate rose less than one [...]
China expansion and UK troubles take a slice out of earnings at Pizza Express April 30, 2019 Pizza Express reported a slump in underlying earnings this morning, as expansion in China and tough trading conditions in the UK hit the group. Read more: SSE talks to Talktalk over £1bn retail unit after scrapping Npower deal In the latest sign of distress within the casual dining sector, Pizza Express posted a 15.3 per [...]
Countrywide warns of earnings hit as it blames Brexit for sales slowdown April 30, 2019 Embattled estate agent giant Countrywide warned this morning that £5m would be wiped off of the group’s first-half earnings, as it blamed Brexit uncertainty for a slowdown in the UK property market market. Read more: Countrywide losses deepen amid housing market slowdown Countrywide, which owns brands such as Bairstow Eves and Gascoigne Pees, posted a [...]
Incentives are needed to fix our broken social care system April 30, 2019 If I could choose just one phrase to sum up what politicians and civil servants need to know – the single maxim that should be tattooed on the insides of their eyelids – it would be this: “People respond to incentives.” It’s such a simple idea. But it’s extraordinarily powerful. Whenever something in government – [...]
Restructuring and foreign currency headwinds hammer Santander profits April 30, 2019 Santander saw profits fall by a tenth as the Spanish banking giant kicked on with a major restructuring in the UK and Poland. Read more: Santander and Barclays face lawsuits over film financing schemes The company was also hit by high inflation in Argentina which hampered earnings further, despite customer growth across its core markets [...]
The material consequences of choosing sustainable fashion April 29, 2019 The textile industry – primarily the business of cloth and clothing – produces close to 100 million tonnes of fibres every year. This number is only set to grow as purchasing power in emerging markets rises. The industry – and its growth – has huge consequences for the environment and climate change, producing some 1.2 [...]
City Moves for 29 April 2019 – Who’s switching jobs at Hambro Perks, Cushman & Wakefield and Relendex? April 29, 2019 Today's City Moves includes Hambro Perks, Cushman & Wakefield and Relendex. Hambro Perks The London-based venture firm, Hambro Perks, has announced the appointment of Svenja Grundmann as investment associate. Svenja Grundmann has joined the company to work alongside portfolio manager Jemma Bruton and Richard Tufft, venture partner and co-head, in building out the Access Fund. [...]