Crest Nicholson sells stake in Surrey film studio for £45m May 14, 2021 UK property developer Crest Nicholson has sold its 50 per cent stake in a film studio joint venture for £45m. Crest Nicholson, which usually focuses on house building, said it has entered into an agreement with JV partner Aviva to sell its share of Longcross Studio in Surrey. The transaction, which is expected to complete [...]
Yet more places to eat and drink: 70 bars and restaurants open now May 13, 2021 It’s just days until we can once more sit in a restaurant and dine like civilized human beings, albeit socially distanced ones. But where to book? To help you make this most difficult of decisions, we’ve collected a bumper list of 70 places to meet up with friends and support the hospitality industry. With spots [...]
UK housebuilder Countryside’s sales soar as property market booms May 13, 2021 UK housebuilder Countryside reported soaring sales and profit in the first half of the year as the housing market boomed following the lifting of Covid restrictions. The property developer said adjusted revenue was up 42 per cent in the six months ended 31 March, reaching £755m compared to £530.9m in the previous year. Adjusted operating [...]
Beazley sees premiums rise but flags $70m loss from US storms May 13, 2021 Insurance firm Beazley today said that its gross written premiums jumped nearly a fifth in what it labelled a “positive” start to 2021. The firm said that gross premiums written increased by 16 per cent to $971m in the first quarter, up from $840m in the same period last year. It added that its estimated [...]
UK house price growth accelerates as supply of new homes coming to market dwindles May 13, 2021 UK house price growth accelerated last month due to a slowdown in the supply of new homes coming to market, according to the latest research. A survey carried out by the Royal Institution of Chartered Surveyors (Rics) showed that 75 per cent of respondents reported an increase in UK house prices. The figure is up [...]
City Moves: Who’s switching jobs in the Square Mile this week? May 12, 2021 City A.M.‘s Millie Turner provides a roundup of the most important hires and job moves across the City, every Wednesday afternoon. Email citymoves@cityam.com to be featured. Capital Group strengthens UK sales team Investment firm Capital Group, which has £1.7 trillion assets under management, has expanded its UK financial intermediaries team this week by hiring a new managing [...]
Brexit hit: City of London suffers £2.3 trillion derivatives loss in a single month May 11, 2021 The City of London suffered a loss of £2.3 trillion in a single month in its lucrative derivatives trading market, with Wall Street trading platforms the ones that benefitted. U.S. swap-execution facilities pulled in more trades across euros, pounds and dollars in March while London experienced an exodus compared to last July, while venues in [...]
46 of the best London home delivery restaurant kits reviewed May 11, 2021 Restaurants with terraces may be open again, but bagging a reservation is another matter. With the best part of a year’s worth of pent up demand, that outdoor space is at a premium and those who don’t book ahead are likely to be disappointed. But don’t panic: you can get restaurant quality food delivered straight [...]
Wall Street closes lower as inflation jitters spark broad sell-off May 11, 2021 US stocks closed lower today as rising commodity prices and labor shortages fed fears that despite reassurances from the US Federal Reserve, near-term price spikes could translate into longer-term inflation. While all three indexes pared their losses from session lows, the sell-off was fairly evenly dispersed across the sectors. The Dow Jones Industrial Average fell [...]
Myth-Busting: Money printing must create inflation May 11, 2021 London ranks ninth on the UBS Global Real Estate Bubble Index for residential properties. Like in many other countries, property prices in the United Kingdom reached an all-time high in 2020. A global pandemic with sudden mass unemployment should have forced UK citizens to sell their homes, but the furlough policies, stamp duty holidays, and record-low interest rates [...]