Sold! Sotheby’s shareholders approve $3.7bn sale of historic auction house September 5, 2019 Sotheby’s shareholders have approved the $3.7bn (£3bn) sale of the auction house to French-Israeli billionaire art collector Patrick Drahi. Read more: Going, going, gone: Sotheby’s sold for $3.7bn to telecoms mogul The sale today garnered the approval of over 90 per cent of shareholders in Sotheby’s, the New York-headquartered auctioneer which was founded in London [...]
Weakening Chinese economy weighs on London markets October 18, 2021 A weakening Chinese economy weighed on London markets this morning as investor sentiment soured on concerns the global supply chain crisis will last longer than expected. The capital’s premier FTSE 100 edged down 0.12 per cent to 7,226.20 points during the opening session. China’s economy was dragged down by energy shortages, soaring commodity prices and [...]
Budget Day: All eyes are on Rishi Sunak’s tax and spending plans October 27, 2021 With all the briefings that have been taking place since the weekend there would appear to be little in the way of surprises when the Chancellor of the Exchequer gets up to speak later today. Most of the content appears to have already been pre-briefed much to the displeasure of the Speaker of the House [...]
Berry Bros lifted as Brits develop taste for fine wines during lockdown November 14, 2021 Berry Bros & Rudd, the UK’s oldest wine and spirits merchant, has benefitted from Brits developing a taste for fine wines during lockdown. Established in the 17th century Berry Bros’ flagship store has been located on St James’s Street since 1689 and has supplied the royal family since the reign of King George III. Its not [...]
Branding and product partnerships push football clubs into the fintech arena, and vice versa March 10, 2022 The fintech industry has never been fiercer. Funding levels have reached astronomical levels, as new ideas percolate throughout the financial ecosystem, meaning more and more fintechs are becoming experts and pioneers in a very specific aspect of the financial landscape. By adopting a collaborative as opposed to a competitive mindset, firms are given a platform [...]
UK house prices: Experts predict sharp recovery after coronavirus lockdown May 1, 2020 UK house prices could rebound after the coronavirus lockdown eases, after they grew at the fastest pace since 2017 before the crisis, Nationwide said today. The value of British homes grew at their fastest rate since February 2017 before the coronavirus lockdown brought the market crashing to a halt, Nationwide data released today showed. UK [...]
Canary Wharf skyscraper faces uncertain future as China cracks down on builders October 6, 2021 Many development projects in London are in limbo as Beijing is cracking down on overleveraged firms and casting a pall of uncertainty on their ability to bankroll their ventures. Greenland, a major Chinese real estate developer which rushed to London in post-recession boom along with many others, is reportedly struggling to finish ‘Spire’, which when [...]
Foxtons sees revenues rocket amid stamp duty-driven housing boom April 14, 2021 Foxtons has seen impressive revenue growth in the three months to 31 March, at a time when house prices are at an all-time high amid the stamp duty holiday. Group revenue at the estate agent in the first quarter of 2021 stood at £28.5m, up 24 per cent on the same period last year. [...]
The Christmas Day Quiz: City A.M. tests out your grey matter December 24, 2022 It’s the Christmas Quiz you’ve been waiting for! Each year City A.M. publishes Deloitte’s economics team’s festive brainteasers, produced as part of their regular Monday briefing. Grab a pen – the answers are at the bottom, and come packed with plenty of extra details… 1. The nineteenth century Scottish historian and philosopher Thomas Carlyle dubbed [...]
Actors on how to save Vault Festival: ‘Batman and DC Comics could cough up £150k’ March 17, 2023 Vault Festival, the UK’s second-biggest arts festival behind the Edinburgh Fringe, has lost its premises for 2024 and beyond as its landlords are favouring more commercial work. Here, two professional actors reflect on how Vault Festival shaped their careers – and how it’s vital for all new actors, writers and directors and must be saved. [...]