OneSavings Bank reckons the Co-op Bank sale may fail and is ready to restart talks if it does March 16, 2017 Challenger OneSavings Bank will reignite its interest in buying part of Co-op Bank because it expects the beleaguered lender’s sale of itself to fall through. Co-op Bank previously opened its books to OneSavings, which today reported better than expected annual results. Negotiations were put on ice when Co-op Bank put itself up for sale, after its US hedge fund backers [...]
Investor relief at Dutch election: what next for stock markets? March 16, 2017 European stock markets have expressed relief at the Dutch election result. Traders had been anxious and share prices put under pressure in the run up to polling day yesterday. But centre-right Prime Minister Mark Rutte saw off a challenge from the Party for Freedom (PVV), led by anti-immigration nationalist Geert Wilders. The election had been [...]
Why the FTSE 100 rises when sterling falls – explained in two charts March 15, 2017 The FTSE 100's strong recovery after the Brexit verdict in last June's referendum caught some investors off guard. After an initial wobble, the index surged. Three months later, it was 10.4% higher. But why? There may have been some other factors at play in those months, but one of the strongest drivers in the [...]
JLL boss calls out government on business rates “disaster” March 15, 2017 The UK boss of JLL has hit out at the government's revaluation of business rates, calling the arrangements around the tax changes due to start in April a "disaster". Speaking at global property conference Mipim, Chris Ireland said that despite flaws in the system, he did not expect the government to make any significant changes [...]
Remember this tiny Chelsea house on sale for £600,000? It just sold for £100,000 above asking price March 15, 2017 Rumours of Chelsea's demise are greatly exaggerated, it seems – after a miniature house in the London neighbourhood sold for a whopping £713,823. That's more than £100,000 above asking price. The tiny home, which we wrote about back in February, was on sale at £600,000. Sounds like a bargain for a home in the heart of Chelsea overlooking [...]
Why the FTSE 100 rises when sterling falls – explained in two charts March 15, 2017 The FTSE 100's strong recovery after the Brexit verdict in last June's referendum caught some investors off guard. After an initial wobble, the index surged. Three months later, it was 10.4% higher. But why? There may have been some other factors at play in those months, but one of the strongest drivers in the fortunes [...]
“Paypal of renting” proptech startup Goodlord just landed millions more from investors Ribbit Capital, LocalGlobal and Global Founders Capital March 15, 2017 A startup aiming to be the Paypal of renting, making lettings easier for tenants, landlords and agents, has landed millions more in funding from top investors. Goodlord has landed £7.2m from Silicon Valley's Ribbit Capital and existing investors: Robin Klein's LocalGlobal and Global Founders Capital, the fund founded by Rocket Internet's Samwer brothers, following on from £2m raised in May [...]
Brexit could cost the construction sector thousands of workers and increase the skills shortage March 15, 2017 While the UK grapples with a skills shortage in the construction industry, new figures suggest Brexit will threaten eight per cent of the sector's workforce. Losing access to the EU's Single Market will put nearly 200,000 construction jobs at risk, a survey of construction professionals by the Royal Institution of Chartered Surveyors (Rics) will today reveal. According [...]
Why Great Britain’s inspirational Paralympians offer a unique and economic sponsorship proposition March 14, 2017 This month marks a year before the start of the 2018 Paralympic Winter Games in PyeongChang and expectations for Great Britain's performance in South Korea are high following our most successful ever summer and winter Paralympics. In Rio last year, we won 147 medals, coming second in the medal table. In Sochi in 2014, we topped [...]
Developer behind 33 Central turns away from regional cities after Brexit March 14, 2017 HB Reavis, the developer behind Wells Fargo's European headquarters, has turned away from investing in the UK's regional cities due to the Brexit vote. Last July, HB Reavis' sale of 33 Central was widely-feted as a coup for London following the EU referendum, and while the developer is confident about the capital's prospects in the future, it [...]