City Moves for 04 December 2013 | Who’s switching jobs December 3, 2013 Baker Tilly The professional services firm has appointed Suneel Gupta as partner in its South Asia advisory group, with a focus on the UK Asian business market and cross-border work between India and the UK. He was previously a partner at BDO, and qualified at PwC. State Street Global Advisors State Street’s asset management business [...]
Christmas sales to be strongest since crisis October 14, 2013 Christmas sales this year are forecast to be the best since the pre-recession levels of 2007, according to a report released by Verdict Retail. Consumer spending is expected to reach £88.4bn in the fourth quarter, a 2.2 per cent increase from last year. Online sales are set to reach £11.6bn, a 12 per cent rise [...]
Flash estimate sees US GDP stronger than expected November 7, 2013 US GDP increased by 2.8 per cent annually in the third quarter, according to a flash estimate, after expectations of a 2.0 per cent rise and following second quarter growth of 2.5 per cent. The increase, says the Bureau of Economic Analysis, primarily reflects positive contributions from personal consumption expenditures, private inventory investment, exports, residential fixed investment, [...]
Redrow and McCarthy & Stone lifted by housing market jump November 12, 2013 REDROW boss Steve Morgan yesterday hit out at the country’s planning system and said the effort in obtaining detailed consent was holding it back from building more homes. The housebuilder posted a 52 per cent jump in private reservations to 1,400 homes in the first 19 weeks of its financial year since the beginning of [...]
Angry fans count cost of ticket resale platforms February 6, 2014 WOULD you spend £1,000 on 90 minutes of entertainment? That’s the figure Tottenham fans are charging each other for tickets to next month’s derby with Arsenal at White Hart Lane – and it’s all perfectly legal. With demand outstripping supply in Tottenham’s relatively small 36,000-capacity stadium, many are forced to look to the club’s official [...]
Kickstart institutional investment to build new homes for generation rent October 29, 2013 INVESTORS have long enjoyed a love/hate relationship with property. An asset class dominated by commercial real estate, it delivers diversification and a reasonable yield in the good times. But in difficult times, upward-only rent reviews vanish, and fund managers are left wrestling with high voids and bad debts. Residential real estate, meanwhile, has largely been [...]
Bovis Homes’ 45 per cent reservations increase boosted by Help to Buy November 8, 2013 Bovis Homes has reported an impressive 45 per cent like-for-like increase in reservations, at 2,390 in the 44 weeks to 1 November 2012. The strong growth was, said the housebuilding company, boosted by access to "higher loan to value mortgages and Government support in the form of the Help to Buy scheme contributing to an already [...]
Council house sells for record £2.96m October 28, 2013 A COUNCIL house near London’s South Bank was sold at auction yesterday for a record £2.96m, making it the most expensive ever sold in the UK. The Grade II-listed property at 21 and 23 Park Street near Borough Market was put up for sale by Southwark Council, to help fund the building of new council [...]
Housing supply fears as growth hits record low November 7, 2013 OFFICIAL figures yesterday showed that the net supply of housing in England this year rose by the lowest number since records began over a decade ago. Net additions rose by just 124,270 in 2012-2013, a fall of eight per cent since 2011-12 and 44 per cent below the 2007-08 peak, according to the figures from [...]
City landmark Royal Exchange close to being sold for £80m November 11, 2013 THE OWNERS of the Royal Exchange are understood to be close to signing a deal to sell the historic landmark next to Bank station for £80m. The Irish Bank Resolution Corporation, formed in 2011 by the merger of troubled Anglo and Irish Nationwide, hired property advisers CBRE last month to market the long leasehold in [...]