FTSE 250 outsourcer Kier sees shares plummet as it asks shareholders for £264m to slash debt November 30, 2018 Construction services company Kier Group’s share price plummeted to its lowest point for a decade this afternoon as it announced a plan to raise £264m to pay off debts. The FTSE 250 firm said the rights issue would give existing shareholders the chance to buy its stocks for 409p each, a 34 per cent discount [...]
New Homes: Our pick of the new builds and conversions going on sale in London this weekend November 30, 2018 New developments on the market this week Fitzroy Gate, Old Isleworth From £1.4m Why shouldn’t Christmas shopping include browsing for a new home? There’s a festive-themed open day tomorrow from 10am to 4pm at this seven acre development in south west London. There are three show homes to peruse and 39 Victorian and neo-Georgian style [...]
UK house price growth recovers from five-year low in November, Nationwide figures show November 30, 2018 UK house prices grew by an average of 1.9 per cent in November, up 0.3 per cent month on month to recover from a five-year low in October, Nationwide announced this morning. The figure is expected to improve if economic and political uncertainty surrounding Brexit lifts over the coming months and employment continues to rise, the [...]
City Moves for 30 November – who’s switching jobs at DWF, Legal & General and Relendex? November 30, 2018 DWF DWF has appointed regulatory specialist Richard Burger as a partner in its regulatory, compliance and investigations team in London. Richard joins from corporate and insurance firm Reynolds Porter Chamberlain (RPC). Richard has 20 years’ experience in UK and international regulatory enforcement, criminal and internal corporate investigations. A former regulatory enforcement lawyer with the FSA [...]
Bottoms up: Greene King heralds heatwave as profits and revenue grow in World Cup year November 29, 2018 Shares in pub owner Greene King ticked up in early morning trading as investors welcomed growing like-for-like sales in its pubs across the UK after a sweltering summer saw drink sales swell. The figures Statutory profit before tax grew 3.2 per cent to £127.7m in the pub chain’s half-year results, compared to the same six [...]
Daily Mail owner posts 16 profit dip as online revenues overtake print advertising for first time November 29, 2018 The group that owns newspaper the Daily Mail said today its profit before tax fell 16 per cent in the last financial year sending shares sliding. The Daily Mail and General Trust (DMGT) said pre-tax profit had slipped 16 per cent to £182m in “challenging trading conditions”. In an illustration of the changing nature of [...]
John Whittaker-led consortium abandons £2.9bn offer for Intu, sending shares crashing November 29, 2018 Intu’s share price nosedived by 36 per cent this morning after a consortium ditched plans to pay £2.9bn for the shopping centre empire, blaming market uncertainty. Intu had repeatedly extended the deadline for the offer from a consortium led by billionaire shareholder John Whittaker, but today the consortium said it would abandon the takeover attempt. “Given the [...]
Venezuela is a brutal lesson to the UK’s socialist apologists November 28, 2018 I know it is very hard to believe, but at some point we shall stop talking about Brexit. We shall get back to discussing what we can do to improve our lives and those of others. And we shall look for inspiration from other countries to learn lessons from catastrophic failures or discover truly amazing [...]
Entrepreneurs should be selective with their investors November 27, 2018 It’s not a secret that London is the fintech capital of Europe. Startups and tech entrepreneurs can flourish here because of the concentration of world-class financial services, and the access available to funding from a variety of key players. However, the nature of investment in tech startups is undergoing a process of significant and positive [...]
Spain’s ‘Airbnb for long-term rentals’ taps King’s Cross as its new global headquarters November 26, 2018 Spanish property tech startup Spotahome has picked out London’s King’s Cross as its new global headquarters, thanks to the UK’s reputation as a great source of highly-skilled digital talent. Spotahome’s chief executive Alejandro Artacho told City A.M. that he believes the capital to be the best place to channel growth and take the business global. [...]