Dominic Chappell faces MPs’ questions on BHS collapse as retailer’s management appear at BIS select committee hearing June 8, 2016 Former BHS owner Dominic Chappell, the majority shareholder of Retail Acquisitions, which bought BHS for £1 last year from Sir Philip Green, is giving evidence on the retailer's collapse this morning. The business, innovation and skills (BIS) select committee has already heard explosive evidence about the sale of BHS to Retail Acquisitions and its subsequent demise – with [...]
Great Portland Estates hails strong lettings demand despite fears over Brexit February 10, 2016 Great Portland Estates said strong demand for its offices helped it to strike another 15 lettings in the third quarter despite increasing uncertainty ahead of the EU referendum. The West End-focused developer has had a busy three months after signing Italian fashion giant Benetton to its flagship store at 73-89 Oxford Street and leasing the last two remaining floors at 240 Blackfriars [...]
Bellway on track for jump in profits after selling homes at record high prices February 10, 2016 Housebuilder Bellway has kept its shareholders happy. The company said it was on track to deliver a significant rise in sales and earnings for the first half building more homes and selling them at record prices. The family-owned company, which builds homes across the country, completed 4,188 homes in the first half of the year to 31 January, up 11.6 [...]
Institute of Directors boss slams Arcadia chairman over BHS collapse in open letter to MPs June 3, 2016 A day after its collapse, the boss of one of the UK's largest business lobbying organisations has said he "can't defend" the running of BHS – and added that "serious questions need to be asked of almost everybody concerned". In an open letter to MPs Frank Field and Iain Wright, chairs of the Commons Select [...]
UK house prices: Why Help to Buy, Starter Homes and other government initiatives won’t boost housebuilding in the UK February 9, 2016 There's nothing like a target to focus the mind. Last year, the newly elected Conservative government set themselves several in an attempt to tackle the housing crisis and get more new homes built over the course of this parliament. The numbers are ambitious. The government says it wants a million new homes built in England [...]
Ladies who don’t lunch: Maike Currie talks to Christine Johnson about bonds, bubbles and being a rebel July 14, 2016 "I am definitely a bond person,” says Christine Johnson, head of fixed income at Old Mutual Global Investors. We’re having lunch at Spring restaurant in Somerset House and I am beginning to understand what Christine means when she says that as a fund manager you need to “live your job”. She likens her personality to [...]
Goldman Sachs to pay settlements in excess of $5bn over pre-crisis dealing of mortgage-backed securities January 14, 2016 Goldman Sachs has today warned its earnings in the final three months of 2015 will take a $1.5bn (£1bn) hit after-tax due to a settlement with regulators. The firm has agreed to pay to resolve actual and potential claims by the US Department of Justice, the New York and Illinois Attorneys General, the National Credit [...]
The LCCM, Amy Winehouse’s former music school, is moving to The Music Box on the Southwark – and you could too March 15, 2016 Hear the stars of tomorrow rehearsing in the comfort of your own home by investing in the latest cultural centre around the South Bank. The latest apartments have gone on sale at The Music Box, a new housing development that incorporates the London Centre for Contemporary Music (LCCM). The school, which counts Amy Winehouse among its alumni, [...]
Steel crisis: Four things that could happen to Tata steelworks next March 31, 2016 The government has been forced to hold a crisis meeting, while dissatisfaction among unions, business groups and the opposition continues to rise. With thousands of British jobs at stake, what could happen to Tata's embattled UK business? Full or partial sale In an ideal world, Tata would be able to find a buyer for its stricken [...]
Canary Wharf homes are now a reality – get them while they’re hot March 3, 2016 When the first homes went on sale at 10 Park Place on the Canary Wharf estate, there were buyers queuing a day early for them. When developer Galliard launched Maine Tower nearby, around £140m of property sold out within four hours, the equivalent of £580,000 worth of sales every minute. Now, it’s Telford Homes’ turn [...]