City workers fuel Midtown housing boom May 12, 2014 HOUSE prices in the area dubbed Midtown have outpaced the greater London market in the first three months of the year due to a surge in demand from buyers working in the capital’s financial sector, new research out yesterday shows. According to property consultants CBRE, the price of a property in Midtown – between the [...]
Air conditioning pioneer Volution Holdings airs out plans for listing June 11, 2014 The British manufacturing firm that installed extractor fans for Sir Winston Churchill during the Second World War is heading to the London stock market after unveiling plans for a £300m listing. Volution Holdings, which owns Vent-Axia – the engineering firm famed for supplying ventilation to 10 Downing Street during the war – will raise £72m [...]
North east takes top spot in Lloyds Bank’s UK economic growth survey June 9, 2014 THE UK economy is picking up pace around the country, according to firms reporting that output is climbing even after 19 consecutive months of growth. Lloyds Bank’s latest purchasing managers’ index (PMI) for English and Welsh businesses hit 59.8 in May, up from April’s figure and at the highest in five months. Growth is also [...]
CNBC Comment: Putin’s bravado masks financial stress May 26, 2014 VLADIMIR Putin’s pivot to the East can no longer be in any doubt. Attending the St Petersburg Economic Forum (the annual meeting he set up to rival Davos) last week, high profile US attendees, like Lloyd Blankfein of Goldman Sachs, were notably absent. The most high-profile foreign delegates were from China, like vice premier Li [...]
Rio quits United but set to play on May 12, 2014 MANCHESTER United defender Rio Ferdinand last night vowed to carry on playing after announcing that he is to end his 12-year spell at Old Trafford this summer. Ferdinand, 35, was not offered a new contract by United chiefs but insisted he still felt “fit and healthy, ready for a new challenge and looking forward to [...]
What the other papers say this morning – 25 June 2014 June 24, 2014 FINANCIAL TIMES China’s new plan to rival World Bank China is expanding plans to establish a global financial institution to rival the World Bank and the Asian Development Bank, which Beijing fears are too influenced by the US and its allies. In meetings with other countries, Beijing has proposed doubling the size of registered capital [...]
Managerial casualties remind Bruce to enjoy Arsenal cup final May 13, 2014 TOTTENHAM’S decision to sack Tim Sherwood has only made Hull manager Steve Bruce even more determined to savour Saturday’s FA Cup final against Arsenal. Sherwood’s dismissal came 24 hours after the end of Pepe Mel’s short-lived reign at West Brom and following a season in which Premier League managerial casualties reached double figures. “I’ve been [...]
Shaftesbury announces £135m loan with Canada Life Investments April 22, 2014 West end landlord Shaftesbury has announced a £135m 15-year loan with Canada Life Investments (CLI) and completion of refinancing with Lloyds Banking Group. The loan is set to be repayable in full maturity in May 2029, and has been secured on properties held in a subsidiary company. The deal will have a fixed interest rate [...]
The sanction spiral: Russia and Europe may fall into recession July 21, 2014 A trade “tit-for-tat” would hit both sides extremely hard EVEN before the tragic Malaysia Airlines plane crash in Ukraine last Thursday (allegedly the work of Moscow-backed separatists), Russia was already reeling from the US’s tightening of the screws. The country’s Micex stock index tumbled 2.3 per cent to 1,440.63 last week after news that financial [...]
F1 hasn’t worked: QPR owner Tony Fernandes quits formula one with Caterham sale July 3, 2014 QPR owner Tony Fernandes has sold his struggling Caterham Formula One team, bringing to an end to the Malaysian millionaire's failed foray into motor racing. The Oxfordshire-based F1 team has been sold to an unnamed consortium of Swiss and Middle Eastern investors, it was announced yesterday, with retired Dutch driver Christijan Albers taking over its [...]