House of Fraser boss John King departs as department store reveals swathe of changes to top team following Chinese buyout February 18, 2015 House of Fraser chief executive John King is stepping down after eight years at the helm of the department store chain. King's departure comes just months after the business was bought out by Chinese consortium Nanjing Xinjiekou, and follows the retirement of former chairman Don McCarthy. King will be replaced by HoF's current [...]
Tesco: What assets has it sold off and what’s heading to the checkout as billion-pound South Korea sale considered? June 5, 2015 Streamlining, belt tightening, slimming down: call it what you will, but Tesco assets are making their way through the checkout at a swift pace, as the troubled supermarket attempts to raise funds for its turnaround. The latest item heading for the bagging area after reporting its biggest ever loss, is part of its large and [...]
Stephen Green: Priest, ethicist and bank boss February 9, 2015 Lord Green had a long and successful career at HSBC, spanning 28 years and leading him to become chief executive and then chairman. But despite questions over how much he knew about tax dodging, Green is not what people imagine a stereotypical financier to be. He was ordained as a priest in the Church of England [...]
Countrywide prepares for new acquisitions with £100m loans February 9, 2015 Estate agency Countrywide has increased its financing facilities from £150m to £250m, the FTSE-250-listed firm announced yesterday. Countrywide said the extra finance will be used for general corporate purposes, including funding potential acquisitions. The £250m revolving credit facility has been provided by its current banking syndicate, comprising Abbey National Treasury Services, AIB Group (UK), Barclays, [...]
City Moves for 07 April 2015 | Who’s switching jobs April 6, 2015 EMW The commercial law firm has announced several appointments. Caroline Hayward (pictured) and Robin Creek become principals in its real estate team. They both joined EMW from Harvey Ingram Borneos in 2012. Gurpreet Sanghera becomes a principal in its corporate team. In addition, Matthew Holman becomes an associate in the law firm’s commercial team, and [...]
Tottenham prepare £350m loan facility for new stadium project February 18, 2015 TOTTENHAM have a £350m loan facility in place for the construction of their new 56,000-seater stadium, it emerged yesterday during a High Court battle over the controversial plans. The bridging loan from HSBC is available to the club in the event of a funding shortfall for the arena, which they hope to open in 2018, [...]
Apple Pay: How does it work and is it any quicker? A guide for the new contactless payment system July 15, 2015 Apple Pay has finally arrived in the UK. Well, sort of. If you have the right iPhone and the right bank and you shop in the right place and if the sun is shining at just the right angle – then you can use Apple Pay (okay, we made the bit about the sun up). [...]
Burberry and asset managers lift FTSE to 7,000 – London Report April 9, 2015 BRITAIN’S FTSE 100 rose yesterday, as a recovery in emerging market-exposed stocks and gains in Burberry, driven by bid speculation, kept the index near all-time highs. The blue-chip index .FTSE closed up 1.1 per cent at 7,015.36 points. It hit a record high of 7,065.08 in March. With just weeks to go before the 7 [...]
Bankers to face new fitness test under FCA rules March 16, 2015 Financial services firms will be forced to vet thousands of staff each year and make sure they are “fit and proper” to perform their roles under a new framework being finalised by City regulators. The Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA) will today publish the final proposals for a new regime [...]
Pinewood studios launches £30m share issue and calls action on its blockbuster £200m expansion March 31, 2015 THE STUDIO home of James Bond, Harry Potter and Star Wars is going to the market to raise £30m through a share issue for an ambitious expansion plan, it said yesterday. Pinewood studios plans to place eight million shares at 375p per share, with N+1 Singer acting as sole adviser and bookrunner. The £30m will be [...]