Aldermore chief executive Phillip Monks says the challenger bank has “plenty of headroom” to grow after posting 88 per cent surge in profits March 10, 2016 Shares in Aldermore Group are down by more than one per cent this afternoon, after spiking earlier today on the news that the British challenger bank had reported a better-than-expected 88 per cent jump in profit for 2015. The bank's chief executive, Phillip Monks, told City A.M. that while the share price moves were "perhaps a little [...]
EU referendum: Brexit could affect property prices – but the Chinese slowdown and a potential interest rate rise are greater causes for concern February 29, 2016 The date has been set and the die has been cast – after 40 years this June voters will have a chance to decide if Britain should stay in the EU and speculation on the possible impact of a Brexit has reached fever pitch. While politicians, businesses and industry experts are willing to throw their [...]
UK house prices: Britain’s property millionaires are set to triple by 2030 – as one in four London homes hit £1m February 18, 2016 Worried about how exactly to become a millionaire after the Adam Smith Institute's predictions this week that we will all be hitting the millionaire milestone by 2050? Not to fear – your property will do most of the work for you, according to new research out today that forecasts that the number UK properties worth at [...]
Bovis Homes ups dividend after record completions July 6, 2015 The surging housing market has buoyed Bovis Homes to post a record number of completions on new homes – enabling it to significantly increase its dividend. The figures: Bovis completed a record 1,525 new home legal completions in the first half of the year, up from 1,487 in 2014. The average price on legal completions [...]
Another Cadbury’s recipe change, Brexit blues, the Queen’s 90th birthday and the shareholder spring that never was: Here’s what got us talking this week April 22, 2016 Cadbury's left us open-mouthed with yet another recipe shake-up. A new job working for the Queen came with added perks. And London's iconic statues were given some help with their breathing. Forget the economy – won't someone think of our cheese? (Source: Getty) 1) Brexit boxing The Treasury published its 200-page report on the impact [...]
All the ingredients for growth: D&D London’s Des Gunewardena explains how the restaurant group is building a platform for long-term expansion July 11, 2016 Why has the City become such a vibrant restaurant destination? It’s two things, says Des Gunewardena, chairman and chief executive of D&D London, owner of such Square Mile stalwarts as Coq D’Argent, South Place Hotel, the Paternoster Chop House, and Madison. “A lot of people have started living in East London rather than West and [...]
From the best US barbecue restaurants to the Senior Bankers’ Regime: What got you reading this week March 11, 2016 1. US barbecue restaurants City A.M. readers are clearly experiencing wanderlust: our US roadtrip sampling 32 of the US' most mouth-watering barbecue restaurants stormed to the top of our rankings this week. Find out where was finger-lickin' good here. 2. Another supermarket sweep Asda and Morrisons' share of of the market fell further this week – while sales at [...]
EU referendum: Remain appears to have gained ground in the polls, but the reality is more muddled May 19, 2016 Polling data is flooding into the public debate on the UK's membership of the EU ahead of the referendum in June. The latest poll by Ipsos MORI put Remain ahead by 18 percentage points, while YouGov's showed 44 per cent of respondents wanted Britain to stay in EU compared with 40 percent who wanted the country to [...]
UK house prices: Mortgage lending has strongest start to the year since 2008 February 18, 2016 Mortgage lending had its strongest start to the year for eight years, according to figures released this morning. Gross mortgage lending hit £17.9bn in January, 21 per cent higher than the same month last year, the Council of Mortgage Lenders said. It is the largest amount of mortgage lending conducted in January since 2008 when £25.2bn [...]
UK house prices: Buy-to-let rush sparks surge in mortgage lending February 11, 2016 Buy-to-let landlords rushing to secure a property before April’s stamp duty hike has driven mortgage lending to its highest level in nine years, according to UK chartered surveyor e.surv. House purchase lending approvals reached 85,432 in January, an increase of 20.6 per cent since December 2015 and the highest number of monthly approvals since October [...]