Lloyds Bank faces potential shareholder pay revolt after world’s largest proxy adviser ‘surprises’ lender May 19, 2018 Antonio Horta-Osorio, the chief executive of Lloyds Bank, is facing a potential shareholder revolt next Thursday over his multi-million pound pay packet for 2017. Institution Shareholder Services (ISS), the world’s biggest investor advisory group, has recommended a vote against Lloyds’ remuneration report at the lender’s annual general meeting on 24 May. Lloyds’ bonus framework was [...]
Last Week in the City: England has an 8.5% chance of winning the World Cup May 18, 2018 Garry White, chief investment commentator, looks at the market-moving events that have shaped the UK equity markets this week (14 to 18 May 2018). UBS has used its City analysts’ predictive firepower to try and work out the winner of the upcoming World Cup in Russia – and England came surprisingly high in its league [...]
Lloyds Bank share price rises after striking £4bn deal with Barclays to offload its loss-making Irish mortgage book May 18, 2018 Lloyds Bank today struck a deal to sell its multi-billion euro Irish property book to rival Barclays – a move that crystallises a £110m loss for the lender. Barclays, which is fronting the deal on behalf of a number of parties such as M&G Prudential, will pay £4bn for a mountain Lloyds’ residential mortgages from [...]
Big Tech must be tamed, for the sake of a fair society May 17, 2018 Just as the competitive oil rush gave way to Rockefeller’s new monopoly in the form of Standard Oil, so the internet’s infrastructure is being built around a handful of companies of immense and growing power: Google, Apple, Facebook, and Amazon, along with their Chinese equivalents, Tencent, Alibaba, and Baidu. There are real concerns that while [...]
Gordon Ramsay turns red as tough market takes a bit out of restaurant empire May 17, 2018 Gordon Ramsay’s restaurant empire has become the latest victim of a turbulent market, swinging to a multi-million pound loss last year. The celebrity chef’s network of high-end restaurants, including City favourite Bread Street Kitchen and three Michelin-starred Restaurant Gordon Ramsay, reported a pre-tax loss of £3.8m in the year to August 2017. The previous year [...]
London ranked as number one city for proptech in Europe behind Amsterdam, Berlin, Paris and Stockholm May 16, 2018 London is the best city in Europe when it comes to the usage of technology in the property sector, or so-called proptech, according to research from legal practice Osborne Clarke. The survey of technology experts from across Europe found that 42 per cent think London is the leading city for proptech, followed by Amsterdam, Berlin, [...]
London’s lack of rental supply is pushing rents up by five per cent annually May 14, 2018 London’s property prices are dropping, but a lack of housing is pushing rents up five per cent a year, according to a study from property group Haart. According to the study, the average property price in London fell by 3.7 per cent in April, down 3.4 per cent year-on-year. Meanwhile, rental stock is down 40 [...]
IWG share price jumps 20 per cent after talks of takeover from Lonestar, Starwood Capital and TDR Capital May 14, 2018 Shares in serviced office firm International Workplace Group (IWG) jumped more than 20 per cent this morning after it was revealed that the company was in talks for a full share takeover. The company confirmed on Friday that it had interest from three seperate private equity firms: Lonestar, Starwood Capital and TDR Capital over the [...]
Lloyds Bank launches fresh £2bn funding for sustainable investment under Clean Growth Finance Scheme May 14, 2018 Lloyds Bank today announced £2bn of fresh funding to help UK businesses invest more sustainably. The funding will be part of the Clean Growth Finance Scheme. Lloyds said: “The Clean Growth Finance scheme aims to deliver the most inclusive UK green funding in the market by providing the incentive of discounted lending to help businesses [...]
IWG open to talks with private equity firms over potential takeover May 13, 2018 Serviced office firm International Workplace Group (IWG) is understood to be receptive to a full-share takeover after it was approached by three separate private equity firms over a potential deal. Formerly called Regus, IWG is expected to start talking to Lonestar, Starwood Capital and TDR Capital over the potential sale. On Friday, IWG put out [...]