Globalisation beckons: UK finally exports more to China than Eire December 12, 2013 SLOWLY but surely, Britain is rebalancing its trade. In October, UK export volumes to EU member states were down by 5.5 per cent, compared to the 2010 average; exports to the rest of the world rose by 16.5 per cent, according to an analysis of the official data by Citigroup. This is beginning to have [...]
Most London homebuyers pay stamp duty of more than £7,500 August 5, 2013 TWO THIRDS of London home sales attract stamp duty of more than £7,500, according to research based on Land Registry data out today from the TaxPayers’ Alliance (TPA). Figures from the Nationwide show the average price of a London house hit £318,214 in July, meaning potential purchasers must be able to pay £9,500 in cash to the [...]
Six men arrested in City office in carbon credits boiler room raid September 23, 2013 CITY of London Police said yesterday that its fraud squad detectives had arrested six men after a raid on a suspected boiler room in the Square Mile, which was thought to be mis-selling carbon credits. It is believed that the boiler room had already made around £1m from cold-calling people across the UK, using high-pressurised [...]
What the other papers say this morning – 15 November 2013 November 14, 2013 FINANCIAL TIMES Ofgem clashes with energy firms Network charges, identified by energy suppliers as a reason for inflation-busting price rises, are not going up as much as companies say, according to the UK’s energy regulator. Energy suppliers have blamed higher bills on rising costs in three areas: the wholesale energy they buy on international markets; [...]
Chinese boost not big enough to hit Prada target September 17, 2013 ITALIAN luxury fashion house Prada posted a 7.6 per cent rise in first-half profits yesterday, lifted by solid growth in its key greater China market but the result was lower than what analysts had expected. The maker of luxury leatherware and Miu Miu-brand dresses said its net profit for the six months ended July was [...]
McQueen sales bask in royal dress success August 18, 2013 ALEXANDER McQueen sales reached “unprecedented levels” last year, thanks in part to the Duchess of Cambridge’s iconic wedding dress, which catapulted the brand further into the global spotlight. The fashion house – led by creative director Sarah Burton, who designed the dress worn by the Duchess in April 2011 – reported sales of £52.4m in [...]
London Report: FTSE roars back as fears of a US default diminish October 10, 2013 THE UK’S top share index bounced off three-month lows yesterday as signs of progress on ending the fiscal stalemate in Washington buoyed sentiment, with banks in particular leading the index higher. Shares in Ladbrokes jumped 2.9 per cent boosted by bid speculation after software firm Playtech, was rumoured to be behind the purchase of a [...]
Kitchen King lines up advisers for flotation September 8, 2013 THE OWNER of household appliances website AO.com – previously known as Appliances Online – is understood to have hired banks to work on a £300m flotation on the London Stock Exchange. John Roberts, the founder of DRL Limited, which owns AO.com, has reportedly hired Jefferies and JP Morgan to prepare the company for a listing. [...]
Damac steers London listing over the line December 3, 2013 The Dubai-based property group became the first major company from the region to float in London since 2007, yesterday. David Hellier went to meet its founder. FOR a man who had just spearheaded a main market share listing in London and had been to the London Stock Exchange for its market opening ceremony, Damac founder [...]
British insurer Abbey Protection sold to US company for £116m October 9, 2013 BRITISH insurance company Abbey Protection was yesterday sold to US firm Markel for £116.5m, ending its 21 year stint as an independent company. Aim-listed Abbey specialises in providing insurance products for legal expenses. The deal will result in a bumper £65m payday for the company’s management team, who collectively own around more than half of the company’s [...]