Ryanair takes Aer Lingus challenge to UK Supreme Court as a human rights issue February 12, 2015 Ryanair is taking its legal challenge over Aer Lingus to the UK Supreme Court, claiming it is a human rights issue. The budget airline had previously been told by the Competition and Markets Authority to sell most of its 29 per cent stake in Aer Lingus, reducing its holding to no more than five [...]
Estate agent wars: Zoopla hit by the launch of rival website OnTheMarket in January February 12, 2015 Online property portal Zoopla's membership was hit last year as its customers prepared for the launch of new, estate agent-run rival OnTheMarket. Nonetheless, it dismissed the new website's impact as "short-term". OnTheMarket's "one other portal rule" effectively bans agents from advertising properties with more than one rival website, meaning many must choose between Zoopla and [...]
Redrow heralds record sales and profits after saving on dividend February 11, 2015 HOUSEBUILDER Redrow posted record sales and profits in the first half of the year thanks to the government’s Help to Buy scheme, a rise in house prices and strong demand for new homes. Group revenue in the six months to 31 December jumped by 54 per cent to £560.6m, driven by an 18 per cent [...]
Forget slowing UK house prices, Redrow just doubled its profits February 11, 2015 The figures Redrow, the British housebuilder, has revealed a bumper set of half-year results (to 31 December) this morning, showing revenue up 54 per cent to £560.6m and pre-tax profit up 92 per cent to £91.2m, in a rosy assessment of the market’s demand for new homes. The impressive results allowed the group to double [...]
Weak Eurozone dampens boost of low oil prices February 10, 2015 World growth will not surge on falling oil prices, analysts at Moody’s said today, because problems in the Eurozone and China’s economic slowdown will dampen any boost. The impact of lower oil prices may even have an adverse effect in some struggling Eurozone countries, said the author of the report. “In the Eurozone, the fall [...]
China’s Dalian Wanda to buy Infront for €1bn February 10, 2015 CHINESE property and leisure conglomerate Dalian Wanda has made a push into the sports and entertainment sectors after snapping up Swiss marketing firm Infront Sports & Media for €1.05bn (£780m). Dalian Wanda, which is led by China’s wealthiest man Wang Jianlin, is one of the country’s largest property players with over 60 five star hotels [...]
City Moves for 11 February 2015 | Who’s switching jobs February 10, 2015 Close Brothers James Mallinson has been appointed as director of Family Business, a role created as part of the asset manager’s expansion of its initiative to support family businesses. Mallinson has 10 years’ experience and was at In Partnership and St. James’s Place before Close Brothers. easyProperty.com The online property platform has appointed Robin Wilson [...]
Legal and General takes over lifetime mortgage provider February 9, 2015 THE UK’S biggest fund manager Legal and General has purchased mortgage provider Newlife Home Finance for £5m. Newlife Home Finance offer lifetime mortgages that allow customers to borrow against the value of their property and then pay the loan back once they die or go into long-term care. “Going forward we believe an increasing number of people [...]
Anti-business? The Labour Party’s real problem is that it’s anti-market February 9, 2015 The war of words between Boots and the Labour Party has led to much political soul-searching. The salient question seems to be: “is Labour anti-business?” This is not particularly interesting. “Business”, after all, is not some homogenous entity. Many claim to be the “voice of business,” but the loudest tend to be those representing the [...]
The cost of renting this medieval castle has fallen 14 per cent in 18 months February 9, 2015 It seems the cost of being an Englishman has fallen over the past two years, after the price of renting a castle has fallen 14 per cent. Or at least, that's if Bellister Castle is anything to go by: the property has just come up for rent, at a significant discount to last time it [...]