KKR halves Pets at Home stake and eyes Tesco June 9, 2015 PRIVATE equity giant KKR has nearly halved its stake in Pets at Home just as it emerged yesterday that the firm has been invited to bid for Tesco’s South Korean business. US-based KKR bought Pets at Home from private equity rival Bridgepoint in 2010 for £995m. The pet care and products retailer floated on the [...]
City Moves for 10 June 2015 | Who’s switching jobs June 9, 2015 Lloyds Bank Commercial Banking Adrian White has been appointed chief operating officer, commercial banking at the bank. He was previously managing director and head of SME banking. White has over 30 years’ experience in the banking industry. Rothschild Peter Hindle has been appointed director in Rothschild’s wealth management business. He joins from Credit Suisse, where [...]
These are the 20 London streets where estate agents are making the most money June 9, 2015 It turns out London’s streets really are paved with gold – for estate agents, anyway, who have earn £10m in fees for sales in London’s 20 most expensive roads over the past 18 months. According to research from website HouseSimple, 80 properties sold in the top 20 prime locations sold for an average of £5.3m, [...]
London’s next mayor must harness the City to tackle the housing crisis – David Lammy June 8, 2015 Not a day goes by without a politician talking about the London housing crisis, and rightly so. It is the biggest challenge our city faces, causing serious problems for almost all sections of the capital, from businesses to renters and families to first time buyers. Politicians have a frustrating tendency to talk about housing with [...]
Global turbulence to rock UK: Trouble in the Eurozone, Fed rate hikes and a Chinese slowdown could hit markets June 8, 2015 Yesterday, the Confederation of British Industry (CBI) revised its UK economic growth forecasts to 2.4 per cent and 2.5 per cent for 2015 and 2016 respectively, down from 2.7 per cent and 2.6 per cent. It wasn’t troubles at home that concerned the business organisation. The CBI cited economic instability in Greece, a sluggish Eurozone, [...]
Young, rich and foreign: Why Mayfair’s typical resident means it’s one of London’s trendiest neighbourhoods June 8, 2015 Gone are the days when London's exclusive Mayfair postcode was reserved for retirees – now the west London zone has turned into a “resort” for 20- and 30-somethings, many of whom hail from overseas. Nearly 60 per cent of people who live in Mayfair are aged under 44, with more than half of residences [...]
City Moves for 08 June 2015 | Who’s switching jobs June 7, 2015 Dalriada Trustees The independent trustees firm has appointed Richard Favier as a trustee representative. He is a former head of restructuring and insolvency at the Pension Protection Fund, and left the PPF to set up his own consultancy in 2013. Favier is a member of the International Insolvency Institute. Arthur J Gallagher The international division [...]
Derby Day Letter: A warm welcome to race-goers from London’s business paper June 5, 2015 Welcome to race day. Today’s special Saturday print edition celebrates one of the greatest and most exciting sporting events of the year. I’m delighted to continue our wonderful relationship with Epsom Downs and Investec again at this year’s event. Here at City A.M., we are truly passionate about the Investec Derby as well as horse-racing [...]
BBC sells White City site to Stanhope and Japanese firm Mitsui Fudosan for £87m June 5, 2015 THE BBC has announced the sale and sublet of its Media Village site in an £87m deal with Stanhope and Mitsui Fudosan. Following an 18-month negotiating process, four acres of freehold land will be sold and six buildings in White City leased as part of the deal. The BBC says it will make £33m in [...]
BBC sells White City site for £87m to Stanhope and Japanese firm Mitsui Fudosan June 5, 2015 The BBC has announced the sale and sublet of its Media Village site in an £87m deal with Stanhope and Mitsui Fudosan. Read more: BBC offers James May and Richard Hammond £1m to stay Following an 18-month negotiating process, four acres of freehold land will be sold and six buildings in White City leased as part [...]