Chancellor Rachel Reeves delivered Labour’s first Budget in 14 years, announcing £40bn of tax rises, Central London Alliance comments
Greater London property lull sinks lower as house prices per square metre fall for the first time in eight years August 18, 2018 Property growth per square metre has slowed down in Greater London, providing fresh evidence of a subdued housing market in the capital. Greater London property space suffered the lowest growth out of any region in the last 12 months, with house prices per square metre (psm) falling for the first time in eight years. House [...]
House of Fraser could have been sold for £1, EY letter reveals August 17, 2018 Beleaguered department store House of Fraser could have been sold for just £1 ahead of its acquisition by billionaire Mike Ashley's Sports Direct brand, administrators EY revealed today. The retailer saw a £14.6m drop in profits in the 13 weeks to the end of April, four months before it entered administration. Turnover also declined 7.7 per cent [...]
Taxing Amazon won’t save the UK high street August 16, 2018 A couple of years ago, a well-known retailer announced a bold new strategy for its online offering, including a proposal to shut down its website outside normal working hours so that shoppers could savour the times when it was open. It was, of course, an April Fool’s prank, but it has lingered in the memory far [...]
Property withdrawals overtake sales for first time in two years August 12, 2018 More properties are being taken off the market than are being sold for the first time in two years, a new report has found. The findings show that in the second quarter of this year, 51 per cent of properties taken off the market were withdrawn from sale, compared with 49 of residences which were [...]
Mike Ashley to turn House of Fraser into ‘Harrods of the high street’ after £90m acquisition August 10, 2018 Mike Ashley has promised to turn House of Fraser into the "Harrods of the high street" after buying the company for £90m. Sports Direct issued a statement confirming that the acquisition includes all the UK stores, the brand and all the stock. It comes after the department store chain announced this morning that it is [...]
New Homes: What’s going on sale this week in London August 10, 2018 Landmark Pinnacle, Canary Wharf From £542,750 You’ll be breaking records by buying an apartment in this 75 storey skyscraper, which claims to be the tallest residential tower in London. It also has the highest residential gym, roof terrace and a landscaped garden square halfway up. These are the last homes to go on sale, [...]
Prime time: Property prices soar for London’s most expensive homes August 10, 2018 Prices for central London’s most expensive properties have risen at their fastest levels in almost three years, amid signs that confidence is starting to return to the capital’s high-end residential market. Central London’s prime house prices rose 1.2 per cent over the second quarter of the year, marking the highest annualised growth since autumn 2015. [...]
Mike Ashley’s Sports Direct confirms House of Fraser acquisition | City A.M. August 10, 2018 Mike Ashley’s Sports Direct has bought House of Fraser for £90m. The acquisition includes all the UK stores, the brand and all the stock. It comes after the department store chain announced this morning that it is to appoint administrators after it failed to find a solvent solution. The price represents a heavy discount for [...]
House of Fraser appoints administrators EY after talks fail | City A.M. August 10, 2018 House of Fraser is calling in EY as administrators after talks with investors and creditors had “not concluded in a solvent solution”. In a statement to the Luxembourg Stock Exchange the department store said administrators had confirmed that the business would continue trading, including all stores and offices, while they attempted to complete a sale. [...]
The global financial crisis 10 years on: A timeline of the global events that shaped the crash from the credit crunch to the recession and beyond August 7, 2018 Ten years ago this week the credit crunch started to bite. Take a look back at the global events that shaped one of the biggest recessions in history. Early tremors: February to June 2007 Early signs of trouble build, but are mostly missed. The giant Freddie Mac, also know as the Federal Home Loan Mortgage [...]