McDonald’s could face a hefty fine if found guilty of abusing its market position after an EU antitrust complaint is filed by consumer groups January 12, 2016 Three Italian consumer groups have co-signed an antitrust complaint against McDonald's, alleging the fast food giant has abused its dominant market position in Europe. If found guilty, McDonald’s could face a maximum fine of as much as 10 per cent of its global revenue, as well as any additional measures the Commission deems necessary to secure fair [...]
Morrisons’s share price soars 10 per cent as supermarket returns to growth after 16 quarters of decline January 12, 2016 Morrisons's share price soared 10 per cent this morning after posting better-than-expected Christmas results, as it starts to win back customers. The figures Like-for-likes excluding fuel were up 0.2 per cent for the nine weeks to 3 January – its first quarterly growth in 16 quarters – while total sales excluding fuel were down 1.2 per cent. This [...]
Savills hikes full-year forecasts but warns that rising rates could dent deal volumes in 2016 January 11, 2016 Savills has reported a stronger-than-expected finish to 2015 but warned that increasing uncertainty over the economic outlook and rising interest rates is likely to dampen deal volumes this year. The estate agency said its investment management division enjoyed a particularly strong end to the year thanks to the sale of portfolio of buildings around one of [...]
The highest flyer: Harriet Green talks Everest, flying cars and building a hi-tech business aged 18 with Gilo Cardozo January 11, 2016 To tell the truth, drones don’t really interest me at all – I like manned aircraft,” says Gilo Cardozo, founder of aviation firm Gilo Industries. He’s not being flippant – he’s got an army of specialist engineers working on engines for unmanned aircraft – but someone so passionate about his work can afford to be slightly [...]
Shooting for the stars: The7stars co-founder Jenny Biggam on Iceland and independence January 11, 2016 There is a consensus among marketers that “content is king”. In traditional media, however, the division between programming and advertising has always been quite clear. But on Saturday evening, Suzuki began a £20m two-year deal to sponsor Ant and Dec’s Saturday Night Takeaway, using skits in the style of the show to promote the car [...]
London house prices: First-time buyers pay £91,000 deposit as fewer get on the property ladder in 2015, according to Halifax January 11, 2016 First-time home buyers needed an average deposit of £91,409 to buy a house in the capital last year, according to figures from a major British lender. The figures, published this morning by Halifax, showed London deposits were nearly three times the national average at £32,927. The deposits paid by first-time buyers nationally rose 13 per [...]
Fixing the sink estate we’re in: Institutional cash is already building homes in London January 10, 2016 Despite London’s status as a safe haven for investors, for many living on crumbling housing estates it’s anything but. For decades politicians have ignored the link between poor housing are various social ills. While Tony Blair did much to help cities, he did little for housing. Today’s plans to redevelop sink estates by harvesting institutional capital should therefore be [...]
Focus On Croydon: The affordable South London hotspot that’s getting a £1bn facelift January 8, 2016 If there’s one thing we learnt from the London property market in 2015, it was not to underestimate the outer boroughs. Some of the largest house price growth increases were to be found in these supposed backwaters. Growth in places like Haringey and Hillingdon far outstripped traditionally prime areas like Kensington & Chelsea and Camden, [...]
Investec: Challenger banks including OneSavings Bank, Aldermore are undervalued as investors are spooked by worries over buy-to-let regulation January 7, 2016 Concerns over increased regulation of the buy-to-let residential property market have prompted investors to undervalue some of Britain’s leading challenger banks, analysts at Investec have claimed. In a new note out today, Investec analysts upgraded their recommendation on OneSavings Bank, a FTSE250-listed lender, from “hold” to “buy” off the back of recent share price fluctuations. [...]
Warnings over global instability gather pace as George Soros compares climate to 2008 January 7, 2016 Warnings over global stability gathering are pace, with legendary fund manager George Soros comparing the climate to that of the financial crisis in 2008. Speaking in Sri Lanka, Soros warned China is struggling to move away from export-led growth towards a more sustainable, domestic consumption-led economic model. The billionaire investor said the People's Bank of China's [...]