Mike Ashley calls for online sales tax to revive high street December 3, 2018 Sports Direct billionaire Mike Ashley has urged the government to tax online retailers as he put up a spirited defence of his own retail operation in front of MPs today. In a fiery appearance in front of a parliamentary committee the retail tycoon said “web boys” that make over 20 per cent of their retail [...]
The “79 per cent chance” the Santa Rally is real December 3, 2018 Stock markets have risen in 79 per cent of Decembers over the last three decades adding some substance to the myth of the “Santa Rally”, Schroders research has found. The “Santa Rally” is a supposed effect of the Christmas feel-good factor, helping stock markets rise at the end of the year, although many seasoned investors remain [...]
Six-bedroom Mayfair mansion snapped up for £39m December 3, 2018 A Grade-II listed mansion in Mayfair has been bought for £39m. According to documents filed with the land registry it was acquired by a British Virgin Islands-registered company for £38.8m at the start of November. Fees and stamp duty mean the total cost of the house will be closer to £45m. The six-bedroom house has a [...]
Mike Ashley acquires Intu property despite row with retail landlord over House of Fraser stores November 30, 2018 Mike Ashley has acquired a new property from Intu despite a public bust up with the retail landlord in which he threatened to withdraw 17 of his stores from their shopping centres. The billionaire has bought a long leasehold on the former BHS site in Derby from Intu, according to the Press Association. It comes just two [...]
Focus On Acton: This once ‘unloved’ part of west London is transforming thanks to the imminent arrival of Crossrail November 30, 2018 For some places in London, the housing market is a complicated beast; riding high in some streets, but not in others; a tale of two postcodes; a slow-burning demographic change subtly altering the character of an area; the promise of new transport links. In Acton, it’s more straight-forward; it was once an unloved pocket of [...]
New Homes: Our pick of the new builds and conversions going on sale in London this weekend November 30, 2018 New developments on the market this week Fitzroy Gate, Old Isleworth From £1.4m Why shouldn’t Christmas shopping include browsing for a new home? There’s a festive-themed open day tomorrow from 10am to 4pm at this seven acre development in south west London. There are three show homes to peruse and 39 Victorian and neo-Georgian style [...]
Kleinman: Brutal winter could ground Flybe despite buyer interest, Truell’s trump card and wheel turns for auditors November 30, 2018 If only achieving take-off for Flybe’s profits was as easy as it seems to be for its share price. Not content with a 70 per cent uplift after I reported that Virgin Atlantic was in talks to buy the regional airline, the stock soared again on Monday as investors boarded on hopes of a bidding war [...]
Mortgage approvals rise to nine-month high while consumer borrowing growth slows, says Bank of England November 29, 2018 Mortgage approvals rose to a surprising nine-month high last month, while consumer borrowing increased at its slowest pace since May 2015, the Bank of England said today. While the Bank said mortgage market activity was “broadly stable” in October, households borrowed an extra £4.1bn against their homes and the number of mortgages approved rose to [...]
City Moves for 29 November – who’s switching jobs at CBRE, Co-operative Bank and Genesis? November 28, 2018 Who’s moving jobs? CBRE Global real estate advisor, CBRE, has appointed Colin Elliot to lead its corporate capital markets business, part of CBRE Capital Advisors. The appointment is a key strategic hire for the Capital Advisors team as it looks to optimise the potential for growth of this important business sector, providing strategic financial advice [...]
Mayfair art dealer Mark Weiss gets green light to inspect Sotheby’s exchange over $10.7m fake Frans Hals painting November 26, 2018 A Mayfair art dealer who is locked in a legal battle with Sotheby's over a fake Frans Hals painting today won the right to inspect internal documents shared between the auction house and art experts. The New York-based auction house is suing Mark Weiss Ltd for repayment of the $10.7m (£8.3m) selling price after the painting, purported [...]