City Moves for 22 February – Who’s switching jobs at ICG, Duff & Phelps and M3 Consulting? February 22, 2019 Today's City Moves cover International Capital Group, Duff & Phelps and M3 Consulting. Take a look at these movers and shakers. Intermediate Capital Group Intermediate Capital Group (ICG) has announced the appointment of Jamie Rivers as a managing director in the UK equity and mezzanine team. He has joined from BC Partners, where he worked [...]
January deals flat as uncertainty weighs on housing market February 21, 2019 Buyers and sellers in Britain’s housing market remained subdued in January, as stamp duty and Brexit uncertainty added to the traditional New Year slowdown. Data released this morning from HMRC has found that residential deals nudged up by 0.8 per cent between December and January, marking a 1.3 per cent rise on the same period [...]
A Brexit-induced price drop won’t fix the housing crisis February 21, 2019 The last 30 years have seen house prices in London soar to dizzying heights. The average home has leapt from £81,536 in 1988 to £473,882 in 2018 – that’s a 481 per cent increase. If the cost of a pint of milk (26p in 1988) had jumped up at the same pace, it would now [...]
Awards 2022 February 20, 2019 The City is back, and so are the City A.M. Awards, recognising the best of the Square Mile, Canary Wharf and London’s business community – which has shown shown resilience, innovation and adaptability like never before over the past year. We’re delighted to host what will be a wonderful celebration of the capital’s rebound, but [...]
Government agency set bonus targets for senior RBS GRG bankers February 20, 2019 Top bankers at RBS’s disgraced global restructuring unit GRG had 70 per cent of their bonuses pegged to Treasury targets, it can be revealed. The details follow claims that the Treasury influenced GRG policy at a time when it was mistreating business customers, many of which went bust. Former GRG head Derek Sach and UK [...]
European Medicines Agency loses £500m ruling over bid to cancel lease amid Brexit move February 20, 2019 The European Medicines Agency (EMA) has lost a court battle to break a £500m London office lease in the wake of its planned move to Amsterdam post-Brexit. In a landmark case for the commercial property industry ahead of Britain’s departure from the EU, landlord Canary Wharf has won a ruling that means the EMA must [...]
Shopping centre landlord Intu swings to a loss after swallowing £1.4bn hit to property values February 20, 2019 Embattled shopping centre landlord Intu moved into the red last year, as more than £1.4bn was wiped off the value of its property following a swathe of retail challenges. Shares in the group dived almost 10 per cent in early morning trading. The figures Losses at the FTSE 250 firm, which suffered two failed takeover bids [...]
WTO blames trade war tariffs for weakest global trade in nine years February 19, 2019 Global trade is about to hit its lowest level in nearly nine years, warned the World Trade Organization (WTO) today, as international tensions and political uncertainty weigh on countries . The WTO's latest forecast warned that trade would fall below its baseline index value of 100 to 96.3 in the first quarter of 2019, the lowest reading since [...]
Slowdown in retail investment as Brexit uncertainty puts sellers on hold February 19, 2019 Investment in retail property tumbled by several billion pounds last year, as owners of high street stores, retail parks and shopping centres showed a reluctance to sell at discount prices despite uncertainty over Brexit and a swathe of industry-wide pressures. A gap in price expectations between buyers and sellers of retail property is causing a [...]
Greystar and Henderson Park snap up Telford build-to-rent site for £105m February 19, 2019 London housebuilder Telford Homes revealed this morning that it has sold one of its largest build-to-rent development sites for more than £100m. US developer Greystar and European real estate investment platform Henderson Park have snapped up the Equipment Works scheme in Walthamstow, which comprises more than 250 rental homes, for £105.5m in their latest bid to [...]