Which London street is the most expensive to live on? Belgravia beats Kensington and Chelsea December 12, 2014 Grosvenor Crescent, near Buckingham Palace, has been named London's most expensive street to live on, according to new research by Lloyds Bank. Home buyers who want to live in one of the prestigious crescent's white Georgian townhouses will, on average, have to shell out a whopping £16.9m. It's located in high-end Belgravia, one of the wealthiest [...]
China’s industrial output slows as factories close to combat carbon emissions December 12, 2014 Manufacturing output in China slipped to a year-on-year rate of 7.2 per cent in November, failing to match the 7.7 per cent achieved in October and falling below the target of 7.5 per cent for the month. The figures, released by the National Bureau of Statistics, reflect the impacts of a widespread closure of [...]
London estate agent Knight Frank cuts ties with Zoopla over new website Onthemarket.com December 11, 2014 Property website Zoopla yesterday brushed off the break up of its partnership with London estate agents Knight Frank, with share price dipping by just 0.35 per cent. Knight Frank’s decision to cut ties with the online business comes ahead of a January 2015 launch of Onthemarket.com. Knight Frank is one of the founders [...]
UK house price lull could be over as lending picks up December 11, 2014 The recent slowdown in house price growth may have already ended, a new set of data shows. House price growth accelerated to 11.3 per cent in November from 11 per cent in October, according to figures released today by LSL property services. The growth rates were lifted by London and the south east. “After a [...]
Whitbread refreshed as Costa and Premier grow December 11, 2014 WHITBREAD yesterday said it was confident of delivering full-year results in line with expectations, after posting another strong quarter of growth from its Premier Inn hotels and Costa Coffee, as both businesses continued to win market share. In a statement, the group said its strong trading momentum from the first half continued into the third [...]
Stamp duty changes set to boost residential property sales December 10, 2014 The newly reformed stamp duty tax is set to boost residential sales, according to a Royal Institution of Chartered Surveyors’ (Rics) market survey released today. The surveyors are forecasting a sales boost of between two and five per cent. The reforms ended the so-called slab structure of stamp duty and reduced the tax burden [...]
City Moves for 11 December 2014 | Who’s switching jobs December 10, 2014 Baringa James Belmont joins the management consultancy as director of its new risk analytics service. Belmont has over 15 years’ experience in consultancy and industry, and has held senior positions at Barclays, Alliance & Leicester and PA Consulting. Linklaters The law firm has appointed Scott Campbell as managing partner for the United Arab Emirates. The [...]
Nike accuses designers who left for Adidas of stealing a “treasure trove” of confidential information and sues them for $10m December 10, 2014 The battle for sportswear supremacy has taken a Shakespearean turn after Nike sued three former designers who left for Adidas in September, accusing them of running off with a “treasure trove” of company designs and business plans. The American sportswear giant has filed a lawsuit in Oregon, where Adidas is headquartered, against Denis Dekovic, [...]
Met HQ sold for £370m to Abu Dhabi investor December 9, 2014 New Scotland Yard, the home of the Metropolitan Police, has been sold to a group of Abu Dhabi investors for £370m, in a dramatic shake-up of the Met’s estate. The Abu Dhabi Financial Group paid £120m more than the asking price for the 1.7-acre site in Victoria, which it plans to turn into a luxury [...]
City Moves for 10 December 2014 | Who’s switching jobs December 9, 2014 Lambert Smith Hampton The commercial property consultancy has appointed Kenneth Hogg as a director in its London valuation team. He has 24 years’ experience in commercial property, and joins from Davis Coffer Lyons. TSB Craig Bundell has been appointed head of credit cards at the bank. He joins from Mastercard, where he held the position [...]