Steel crisis: The government must save the people, but not the industry April 1, 2016 This has been a sobering week for Britain’s once mighty steel industry. The problems that have led to Tata’s decision to sell its loss-making UK operations have been building for decades, and as politicians take pot shots over who could have done more to save the industry in recent years, it’s worth remembering just how [...]
Insecurity of tenure, inadequate legal protection and a lack of publicly available information: The UK’s dysfunctional rental market is due a shake-up December 2, 2015 Insecurity of tenure, inadequate legal protection and a severe lack of publicly available information on individual rental properties are just some of the woes reported by this country’s nine million renters. But for me, by far the worst characteristic is the breath-taking amateurishness which underpins every aspect of the rental experience. The Private Landlords Survey [...]
Pension or property: Which is the better option for your retirement? August 31, 2016 The Bank of England’s chief economist Andy Haldane drew ire from the pensions industry for the second time this year, when he claimed that property was a better investment option for retirement than a pension in an interview with The Sunday Times this weekend. “It ought to be pensions but it’s almost certainly property,” Haldane said. [...]
EU referendum: Companies hunting for new London offices shrug off Brexit fears April 19, 2016 Companies were still on the hunt for new offices in London in the first quarter of the year, despite fears that economic jitters and the prospect of a Brexit could stifle demand. More than 3.1m square feet of space was snapped up, with Thomson Reuters' deal to decamp all of its staff to new 315,400 sq ft Canary Wharf headquarters lifting overall take-up [...]
Buy-to-let tax changes: A perfect storm for landlords and tenants March 11, 2016 Upcoming tax changes have ignited debate about the role private landlords should play in meeting the UK’s housing needs. Focus has fallen on buy-to-let but, as the Institute for Fiscal Studies, among others, has noted, landlords are taxed much less favourably than home owners. Following last year’s Autumn Statement, which outlined plans for an additional [...]
City Moves for 2 March 2016 | Who’s switching jobs March 2, 2016 Avon Rubber Avon Rubber has announced that Chloe Ponsonby has been appointed as a non-executive director with immediate effect. Chloe will chair the remuneration committee and will be a member of the audit and nominations committees. She is a partner at the Lazarus Partnership, an independent research and advisory firm. She has spent the past 10 [...]
Ladies who don’t lunch: Maike Currie talks to Hermes Investment Management’s Harriet Steel about success, failure and building things May 26, 2016 Most people detest building. Whether it’s a new build, extension or renovation, chances are it will feature somewhere on the list of life’s more stressful events, perhaps only a few notches below death, divorce, starting a new job and moving home. Harriet Steel, global head of business development at Hermes Investment Management, however, relishes it. [...]
Taylor Wimpey says it’s “well equipped” to handle Brexit uncertainty as order book fills up April 28, 2016 The boss of one the UK's largest housebuilders, Taylor Wimpey, has shrugged off concerns surrounding the EU referendum, claiming that it is "well equipped" to react to any changes in the market and that uncertainty in the run-up to the vote has had no effect on trading. Speaking at the company's annual general meeting this morning, [...]
BAE Systems hires Expro boss Charles Woodburn in new role of chief operating officer – and possible Ian King replacement? February 15, 2016 BAE Systems has appointed Expro boss Charles Woodburn in its newly created role of chief operating officer. Woodburn has been chief executive of the oil business – which is owned by a consortium including Goldman Sachs and Arle Capital Partners – for the last five years. He is also a non-executive director of Seadrill and has more than 20 [...]
London housing crisis? Deloitte and other businesses might soon have to build houses for staff January 21, 2016 The ever increasing cost of living in London has led one of the City's biggest employers to consider building its own housing for junior staff. Deloitte has already helped younger staff joining the firm with securing rental accommodation because of the struggles of finding somewhere affordable to live in the capital. But now it has said it may even need [...]