Sunday Times Rich List 2017: The wealth of Britain’s billionaires has boomed despite Brexit, but Mike Ashley, Sir Philip Green and Selfridges owning Weston family lose millions May 7, 2017 The wealth of Britain’s richest has rocketed with more billionaires than ever before, new figures reveal. Brexit failed to derail the rise of the super-rich and the collective cash of the world’s wealthiest topped a whopping £658bn – that’s up 14 per cent on last year. There are now 14 more billionaires in Britain than [...]
The Land Rover Defender is gone, but the next great British success story is just waiting to emerge January 29, 2016 The Land Rover Defender is a great example of UK manufacturing’s worldwide appeal. From the drawing table to the production line, UK manufacturers have a reputation for excellence, high standards, and iconic designs. British manufacturing is not playing not to lose; it is playing to win. The UK’s financial and legal services industries may contribute [...]
Government cuts discount rate: Insurance sector says “crazy” decision will cost the industry billions February 27, 2017 The UK's insurers were left reeling this morning after the government announced changes to a key insurance sector discount rate, costing them hundreds of millions of pounds. Direct Line said annual profits for 2016 would be cut by up to £230m, while motor insurer Admiral estimated it will take a hit of up £100m and is to [...]
Forget the noise about ‘Leavers’ and ‘Remainiacs’: There are reasons for hope as EU negotiations draw near February 23, 2017 In just just a few days the UK will embark on one of the longest multilateral negotiations in its history as the Prime Minister invokes Article 50 and the process of withdrawal from the EU begins in earnest. To read the headlines or remain glued to Twitter (an increasingly bad idea for my blood pressure), [...]
Sadiq Khan slams Boris Johnson’s “toothless” Concordat housing scheme at Mayor’s Question Time June 22, 2016 Sadiq Khan has slammed former mayor Boris Johnson's flagship housing scheme for failing to stop new London homes being sold as "golden bricks" to overseas investors. Johnson's Concordat scheme, which was launched in 2014, was pitched as the solution to stopping major developers advertising London homes abroad first for overseas buyers, who had months more [...]
Over 50 business leaders have called for an “urgent” decision on airport expansion almost exactly a year after an official report lent its support to a new Heathrow runway June 27, 2016 Over 50 business leaders have called on the government to urgently make a decision on expansion of capacity at London's airports, a year after an official report backed a new runway at Heathrow. Prior to last week's Brexit vote, reports had suggested that a decision could be made as soon as 7 July. However, following [...]
Jaguar Land Rover will create 10,000 jobs by building its electric car in the UK November 25, 2016 Take that, Brexit naysayers. Not only has the chief executive of Jaguar Land Rover said he wants to build his electric car in the UK – creating thousands of jobs in the process, reports suggested. In a speech at a meeting of political and automotive leaders last night, Ralf Speth said the company is planning to double production to [...]
Wanted: A bold government housing strategy that delivers for the young rather than the old December 6, 2016 If Brexit wasn’t dominating British politics, then one other issue would be: the lack of housing. If you know someone under 30, living in London and able to afford their first home, then your friend belongs to the country’s richest percentile. For most people, even for those on what used to be a decent median income, owning [...]
British Land issues £350m convertible bond to fund One Sheldon Square Paddington and Surrey Quays acquisitions June 2, 2015 British Land, one of the UK's biggest developers, has launched a £350m convertible bond. The senior, unsecured convertible bonds, due in 2020, will be used to fund its acquisition of two central London properties and future spending. The developer splashed £210m on increasing its ownership of One Sheldon Square in Paddington in April, and bought [...]
Government comes under fire for Green Investment Bank sale after claims Macquarie is planning asset-strip January 11, 2017 The government has come under scrutiny today over the privatisation of the Green Investment Bank. The Commons Environmental Audit Committee today raised concerns about the proposed sale to Australian investment bank Macquarie, which is believed to be the favoured bidder. It was reported over the weekend that Macquarie is planning to strip the bank of its [...]