CRH shares jump as Trump plans to ramp up infrastructure spending in the US March 1, 2017 Shares in CRH have risen more than five per cent today as US infrastructure spending is seen growing further in 2017. The figures The Dublin-based group posted pre-tax profit up 69 per cent to €1.74bn (£1.49bn) while earnings before interest, tax, depreciation and amortisation (Ebitda) for the full year increased 10 per cent on a proforma basis to €3.13bn. Basic earnings per [...]
Theresa May says she’s had positive talks with banks over Brexit January 19, 2017 Prime Minister Theresa May has claimed positive talks with some of the world's top bankers in Davos, despite news that lenders are preparing to shift jobs from London. UBS, Goldman Sachs and HSBC have all suggested that roles in the capital could be under threat in the aftermath of Brexit. However, speaking to the BBC today, [...]
The government’s IT crowd is moving into the “tech cluster” October 4, 2016 The Government Digital Service (GDS) – the team behind government websites and other services – is moving into Derwent London's The White Chapel Building. GDS has pre-let the top two floors of the building – 53,700 square feet – paying an initial rent of £2.8m per annum. The move from GDS is part of the government's plan to [...]
South West Water owner Pennon flushes away concerns with steady performance November 25, 2016 Shares in Pennon nosed-up over one per cent this morning after growing earnings over the first half its financial year. The figures Revenues actually fell in the six months to 30 September from £689m to £686m. But earnings jumped by 5.9 per cent to £245m and profit before tax leapt 19.9 per cent to £128m. [...]
Government should let us make free choices, not subsidise our productivity February 7, 2017 Often the most misguided ideas in politics sound the most innocuous. If we were to hear a minister say that the government wanted to ensure that “every man or woman achieved their full potential”, it would be tempting to nod along unthinkingly. Who could disagree with such a positive-sounding goal? The problem is that things [...]
City Pub Company guzzles Christmas sales as it prepares to float this year January 18, 2017 City Pub Company has raised a toast to this Christmas after it nearly doubled like-for-like sales over the five-week festive period. The figures The pub owner and operator said sales for the period to 1 January were up 47 per cent compared with the previous year, while sales for the whole of 2016 were up 37 per cent. It also bagged [...]
City Moves for 19 December 2016 | Who’s switching jobs December 19, 2016 Fitch Fitch has appointed Sean Costello as head of its EMEA corporates banker team. Sean joins from Commerzbank where he was head of loan capital markets within their leveraged finance group. Sean joined Commerzbank in August 2005 from the leveraged loan distribution team at Bank of Scotland and prior to that, NIBC Bank and NatWest Capital Markets. With [...]
Housebuilder Persimmon shrugs off Brexit vote but says it’s staying cautious November 2, 2016 Housebuilders' shares were among the hardest hit after the Brexit vote – but it seems investors may have been over-cautious, after Persimmon reported a 19 per cent jump in sales. The figures In a trading statement this morning Persimmon, the UK's biggest housebuilder, said since it reported its half-year results at the end of August, sales have [...]
London Zoo’s aviary and an iconic City of London church right by Bank station have been added to the at risk buildings register October 21, 2016 An iconic City of London church and London Zoo's aviary are among the buildings added to the "Heritage At Risk" register by Historic England. The organisation said settlement in the tower of the Church of St Mary Woolnoth, right next to the Lombard Street exit of Bank Station, has caused cracks, while parts of the [...]
Business groups are demanding a raft of industrial strategy interventions to boost productivity October 30, 2016 Business groups are pushing the government to dramatically boost productivity through a raft of plans to back infrastructure growth, hiring and training. A government consultation has seen lobbyists deluge Greg Clark's Department for Business, Energy and Industrial Strategy with demands to boost the UK's economy. Theresa May's desire to publicly reintroduce industrial strategy to the UK's [...]