Deficit reduction target at risk as George Osborne borrows £11.6bn in August despite rise in tax revenues September 23, 2014 The UK government had to borrow £11.6bn in August as it failed to slash the budget deficit, putting chancellor George Osborne’s borrowing targets for the year at risk. In his March statement, Osborne aimed to cut £10bn off government borrowing in 2014-15, compared to the year before. But new figures from the Office for National [...]
Permira offloads remaining ‡1bn stake in Hugo Boss March 16, 2015 German fashion house Hugo Boss is parting ways with its investor Permira after the private equity firm launched a sale of its remaining €1bn (£720m) stake last night. Permira has been gradually cutting its holding in Hugo Boss after acquiring a majority stake in 2007. The investment vehicle Red and Black – which is 60 [...]
Private View: On the market in Battersea March 12, 2015 HONEYWELL ROAD £1.695m This good-sized family house is on a popular road that’s in the catchment area of Honeywell Primary School. It boasts a south-facing garden and five bedrooms spread across 2,200sqft of space, including a master bedroom with an ensuite bathroom in a converted loft space on the top floor. Contact sales agent Hamptons [...]
Taylor Wimpey upbeat as order book swells in Spring selling season April 23, 2015 TAYLOR Wimpey said yesterday that it has enjoyed a strong start to the spring selling season thanks to high levels of customer confidence, driven by improving job prospects and more competition in the mortgage market. The housebuilder, which has 24 regional businesses across the UK, said its total order book has grown by 24 per [...]
City Moves for 07 May 2015 | Who’s switching jobs May 6, 2015 Norton Rose Fulbright The law firm has appointed Richard Hughes as a partner in its London banking and finance practice. He joins from Simmons & Simmons in London. Hughes has over 25 years’ experience as a finance lawyer, and has also worked in-house. Silicon Valley Bank UK The financial services firm has appointed Gavin Hewitt [...]
Britain likely to reach a record low for inflation – London Report March 23, 2015 CONSUMER price inflation is likely to have fallen to a new record low of 0.2 per cent in February, moving Britain closer to deflation. Official figures out tomorrow look set to show the fall in the index, which comes after the previous low of 0.3 per cent in January. Howard Archer, of IHS Global Insight, [...]
In pictures: Flats at Canary Wharf’s Wood Wharf and Newfoundland neighbourhood open for registration today April 22, 2015 Fed up with your daily commute? Canary Wharf has a solution: it's just put 3,200 homes on sale, around the corner from its office development. Alright, so they're not actually built yet – but good things come to those who wait…. The flats are part of Canary Wharf's first expansion since the beginning of the [...]
UK House prices: Generation rent downbeat on buying outlook April 6, 2015 A generation of Britons still fear that they will never be able to buy a home despite the number of first-time buyers reaching a seven-year high in 2014, a survey reveals today. Some 79 per cent of 20- to 45-year-olds believe banks do not want to lend to first-time buyers, while 21 per cent think [...]
Turn failing council estates into city villages to provide the homes Londoners need March 23, 2015 There is no single solution to London’s housing crisis. But a key element is the systematic regeneration of the huge tracts of land owned by the capital’s 32 local authorities, much of it occupied by council estates in desperate need of renewal. Hundreds of new “city villages” should be created, improving the lot of existing [...]
London towers vs low-rise living: Westminster is luring investors seeking modern quality homes in a historical part of town February 26, 2015 It’s out with the old and in with the new in one of London’s most historic boroughs. Westminster, home to such venerable and enduring institutions as Westminster Abbey, Whitehall and the Houses of Parliament, is well known for its period housing stock. Small streets are generally lined with Georgian townhouses and bookended by 18th century [...]