Crest Nicholson shares soar after housebuilder hikes profit expectations November 3, 2020 Shares in Crest Nicholson soared this morning after the housebuilder hiked its profit forecast following strong sales after coronavirus lockdown restrictions were lifted. The FTSE 250 firm said adjusted profit before tax is expected to be significantly ahead of the previous forecast of £37.9m, at around £45m. The London-listed developer’s share price surged more than [...]
Wall Street opens higher while the FTSE 250 closes at a new record June 1, 2021 Wall Street opens higher as FTSE 250 closes at a new record
Bertelsmann snaps up Simon & Schuster in $2.2bn deal November 25, 2020 The German media group behind Penguin Random House has acquired US publisher Simon & Schuster for $2.2bn (£1.6bn). Bertelsmann today confirmed it had secured the deal with owner Viacom CBS following a closely-fought bidding war. The takeover cements Bertelsmann’s position as the world’s largest book publisher, and strengthens its footprint in the US — its [...]
Aggressive valuations: London home sellers overprice their properties by 40 per cent October 19, 2021 Home sellers across London are overpricing by as much as 40 per cent when it comes to the price at which they list their homes on the country’s major portals, versus the reality of what buyers will pay, according to new data shared with City A.M. this morning. The figures show that across Britain, the [...]
Stamp duty holiday: Property experts split on benefits of tax break extension February 24, 2021 The government is reportedly planning to extend the stamp duty holiday to June, with buyers set to save £1.75bn on 300,000 additional transactions, according to the latest research. There are an estimated 628,000 sales in total still currently in the legal process across the country – including those agreed last year – data from Rightmove [...]
Housing secretary upholds approval of £250m Richmond urban village January 18, 2021 The housing secretary has granted property developer Avanton the go-ahead for a new 453-home urban village in Richmond. Avanton acquired the site in 2018 but its planning permission was initially refused by Richmond Council the following year. Mayor of London Sadiq Khan intervened to grant permission in October 2020 after Avanton announced plans to make [...]
Focus on Wood Green: First-time buyers flock to this up-and-coming North London locale November 15, 2019 Known to many Londoners as the gateway to a night out at the Alexandra Palace, Wood Green is situated on the border between North East and North West London, just within the North Circular. It is also home to Wood Green Animal Shelter, one of the largest in London which was recently the subject of [...]
‘Next chapter’ starts for Cazoo as firm lists via New York SPAC : CityAM August 27, 2021 Used car platform Cazoo made its long-awaited stock market debut today as the firm went public in New York with a valuation of $8bn. The float, which makes serial entrepreneur Alex Chesterman’s latest project the most valuable US listed UK firm, came after it completed its merger with SPAC Ajax I. Also Read: Cazoo goes [...]
City A.M. TV: Daily Market Snapshot (video) March 22, 2021 City A.M. TV: Daily Market Snapshot (video)
Individuals rush to sell assets as capital gains tax bill rockets to £10.1bn December 23, 2020 The UK’s capital gains tax (CGT) bill has hit £10.1bn, up more than fourfold from £2.5bn a decade earlier, prompting people to sell their assets. Despite the increase of nearly £7.5bn in a decade, more CGT could be demanded from the taxpayer. The Office for Tax Simplification recently recommended the Chancellor increase CGT rates in [...]