Trouble in store for House of Fraser as credit insurer pulls cover March 4, 2018 A credit insurer has pulled cover on House of Fraser, underscoring the difficulties faced by the department store following a disappointing set of Christmas figures. A spokesperson for House of Fraser said 20 of the business' 650 suppliers were affected by the credit insurer's decision. Those suppliers will now have to find new insurance, or [...]
Pub group Hawthorn Leisure to attract interest from competitors as private equity owner calls closing time on investment March 4, 2018 The 300-strong UK pub group Hawthorn Leisure is up for sale, according to industry sources, as its private equity owner looks to pass the group on. The young pub group, which was founded in 2014 by former Merrill Lynch banker Noah Bulkin with funding from Avenue Capital, is in the early stages of a process [...]
Last Week in the City: Trump threatens trade war March 2, 2018 This week US President Donald Trump threatened a trade war, a number of famous high street names, including Toys R Us and Maplin, got into serious trading trouble and upbeat assessments of the US economy from central bankers helped the US dollar to rally, reversing its recent trend. The FTSE 100 fell 0.2 per cent [...]
Guy Hands’ Terra Firma is set to battle with buyout behemoths for Network Rail railway arches properties March 1, 2018 Guy Hands, one of the UK’s most well-known buyout firm bosses, is set to make a £1bn swoop for Network Rail’s commercial property portfolio. Hands’s private equity firm, Terra Firma, will be battling against giants such as Blackstone, the billionaire Pears family’s Telereal Trillium and funds associated with Goldman Sachs, Sky News has reported, as [...]
Retail job losses could number 15,000 as industry strains under cost pressures March 1, 2018 At least 15,000 retail sector jobs have either been slashed this year or are now at risk as household names sink into administration, according to calculations by City A.M. Toys R Us and Maplin went into administration yesterday, putting more than 5,500 jobs in doubt. The double-whammy for the industry comes after fashion chain East [...]
Persimmon share price rockets as it sells more homes at higher prices February 27, 2018 Shares in housebuilder Persimmon jumped more than 13 per cent in early trading, after it unveiled a rise in profits and sales in 2017. The figures Pre-tax profits rose 25 per cent to £977.1m in the year to the end of December, while revenues rose nine per cent to £3.42bn. It sold 16,043 homes, up [...]
Opinion: London’s buyers market is a consequence of estate agents irresponsibly over-pricing properties February 23, 2018 The average London home is now sold at 4 per cent below its original asking price, according to the Hometrack Cities Index, up from just 0.5 per cent in 2014. Many are taking it as a sign that homeowners are desperately discounting their homes in an effort to sell, and that the capital has now [...]
The most famous houses in Jamaica and how to visit them February 22, 2018 When the plane comes into land in Montego Bay, the view isn’t quite the Caribbean I imagined during all those hours flying over the Atlantic. A line of mid-rise holiday resorts, uniform in their whiteness, bear down on the sea like a single gleaming fortress. At the end of the runway at Sangster International Airport [...]
HS2 chooses Lendlease to develop “a masterplan” for Euston revamp that could lead to 1,700 new homes February 22, 2018 HS2 said today the firm behind the 2012 London Olympic Athletes' Village will lead the massive revamp of Euston in a deal that could fuel the development of up to 1,700 new homes. Lendlease has been appointed the master development partner by the transport secretary and Network Rail, and will work to develop "a masterplan" [...]
Billionaire’s paradise: Ever wanted to own a private island in the Caribbean? Here’s your chance to be the Branson of the Bahamas. February 21, 2018 When asked what they would do if they had all the money in the world, most people put buying a private island at the top of the list. Sadly, these dreams usually go unrealised, because most people aren’t eye-wateringly rich, and because even if they were, they rarely come up for sale. It’s especially rare [...]