Melrose meets with GKN shareholders to pursue £7bn bid, as interest from buyout house Carlyle could prompt a bidding wa January 14, 2018 Melrose, a London-listed company which acquires and turns around manufacturing companies, is set to meet with shareholders of engineering giant GKN tomorrow to pursue a £7bn bid. But the process could soon turn into a bidding war, as sources have told City A.M. that US buyout house Carlyle has also been sniffing around GKN. Melrose [...]
Wells Fargo has cashed in on Donald Trump’s tax reforms January 12, 2018 US banking giant Wells Fargo said today it benefited to the tune of $3.35bn (£2.46bn) in the fourth quarter of last year, after Donald Trump slashed corporation tax. The lender said although it had incurred costs of $370m on adjustments to leveraged leases, low income housing and tax-advantaged renewable energy investments, as well as a [...]
Focus On Hammersmith: W6 has benefitted from the regeneration of Shepherd’s Bush and the sky high prices in Chelsea January 12, 2018 For many years, Kensington and Chelsea was thought to be the last word in west London property for well-heeled individuals. But if the increasing migration over the border to Hammersmith is anything to go by, its time may be over. Increasingly, upsizers and families are fleeing the Royal Borough for W6 to find similar properties [...]
City Moves for 12 January 2018 – who’s switching jobs at Glenny, Belstaff and Fever-Tree? January 12, 2018 Today’s City Moves cover investing, fashion and soft drinks. Take a look at these movers and shakers: Glenny Glenny has announced a high-profile senior appointment, making Philip Colman a divisional partner in its investment team. He has over 10 years’ experience working in the London and the south east business space markets with a focus [...]
The City of London is bracing itself for a raft of UK retail collapses in 2018 January 12, 2018 Retailers painted a gloomy picture of the high street this week as several big names failed to cash in on the Christmas shopping season. Gloomy financial updates from household favourites such as Marks and Spencer (M&S), Debenhams, and House of Fraser prompted analysts to signal several retail collapses may be on the cards in 2018. [...]
Investment trust winners of 2017 January 11, 2018 Investment trusts enjoyed healthy investment returns last year, with funds focused on Japan delivering some of the best returns in 2017, according to data for trust sectors. Investment trusts are an alternative to more commonly held open-ended funds or unit trusts, offering some advantages. This is explained here: investment trusts vs open-ended funds. Here we [...]
The global economy looks strong but confidence in Britain is weak and getting weaker January 9, 2018 Optimism among British manufacturers about the state of the global economy is at a four-year high. So says a survey from the manufacturers' organisation EEF. It found 40% of factories are planning for growth this year compared with 19% who are forecasting a decline. Sales are expected to grow at home, according to 62% of [...]
Persimmon boss Jeff Fairburn bags more than £100m bonus after year of strong sales January 9, 2018 Persimmon boss Jeff Fairburn is in line to collect a bonus of more than £100m after the housebuilder posted a nine per cent growth in annual sales. “Modestly” ahead of consensus expectations, Persimmon profits were boosted by average selling prices rising three per cent. Annual revenues were £3.42bn as Persimmon increased legal completions by 872 [...]
Focus On Angel: House prices have almost doubled in this central part of Islington in the last ten years January 4, 2018 Though the name has pious connotations, the Angel is actually named after a pub. Well, the 17th century Angel Inn was a hotel, too, then a restaurant, but is now a Co-Op Bank. Although there is a JD Wetherspoons pub called The Angel next door. As an incredibly central part of the London borough of [...]
London house prices dropped in 2017: This is how the experts reacted January 4, 2018 London house prices fell last year for the first time since the financial crisis, and the capital was the worst performing UK region for property price growth for the first time in 13 years. House prices in the capital dropped by 0.5 per cent in 2017, according to the most recent Nationwide house price index, [...]