Paragon share price jumps as loan sale pushes up profits amid strong buy-to-let pipeline September 18, 2018 Challenger bank Paragon today announced a "reverse profit warning" after it sold a portfolio of loans, while it also sees a strong pipeline of buy-to-let loans. In an unscheduled trading update published today, Paragon said the premium for which it sold the assets will have a positive impact of seven pence per share on final [...]
British economy enjoys surprise July jump in activity to record strongest growth in almost a year September 10, 2018 The British economy surprised economists in July as output grew by 0.3 per cent, with a sunny services sector outlook alongside unexpected support from the construction sector contributing to the pick-up. The three months to July saw GDP expand by 0.6 per cent, picking up from 0.4 per cent growth in the second quarter of [...]
Leisure billionaire Trevor Hemmings sues former plaintiffs over unpaid RBS legal fees August 19, 2018 A vehicle controlled by the enigmatic billionaire Trevor Hemmings has accused a swathe of groups, including nine Lloyds subsidiaries, of attempting to “unjustly enrich” themselves dodging litigation costs related to a £200m claim against RBS. Manx Capital, a group owned by Hemmings, is leading thousands of shareholders in the claim, which has been fraught with [...]
Lendy Cowes Week: Wind provides lively conditions for Youth Day | City A.M. August 8, 2018 After two days of hard work with little wind, today was a welcome relief for many sailors at Lendy Cowes Week. Youth Day saw gusts reaching up to 25 knots, meaning plenty of action out on the Solent. Team Lendy built on some promising results in previous days to finish third in the Sunsail F40 [...]
Exclusive: Asian buyer nears £425m deal for Commerzbank HQ September 2, 2018 Commerzbank’s London HQ is set to be sold in a deal worth almost £500m to an undisclosed Asian buyer later this week, City A.M. understands. An agreement for 30 Gresham Street, which was put on the market by Samsung Life Insurance earlier in the summer, is reportedly nearing its final stages, as the burgeoning Asian demand [...]
M’s man Martin squashes the beef at Gaucho October 23, 2018 The boss of Gaucho has declared the days of London suits going out and “eating a kilo of steak” are over, as the restaurant chain prepares to rebound out of administration with a fresh, millennial-friendly look. Martin Williams, founder and chief executive of M Restaurants, is back in the saddle at Gaucho after leaving in [...]
Retailer The Works which is backed by private equity firm Endless and the founder of the Card Factory launches £100m London float | City A.M. July 13, 2018 Retail chain The Works plans to float on the London Stock Exchange later this month with a valuation of £100m. The offer price has been set at 160p per share and dealings are expected to start on 19 July. The Works sells arts, crafts, gifts, toys, books and stationery from more than 430 stores in [...]
Finalist November 9, 2022 Start-up of the Year supported by World Mobile Swash Swash is reinventing data ownership through new incentivisation streams and a collaborativedevelopment framework, governed by the ethos of Web 3. It enables individuals, developers, and businesses to cultivate new realities of data ownership and value creation. It is the largest data unionin the market with over [...]
Paragon buys Titlestone developer and loan book in £274m deal with Oaktree Capital Management July 3, 2018 Challenger bank Paragon today announced the purchase of £48m residential developer Titlestone and a £226m loan book from Oaktree Capital Management. Paragon, which offers mortgage and business lending, said the moves are part of a strategy to diversify into specialist lending markets. Titlestone advanced £274m in loans to small and medium-sized developers during the year [...]
Paragon buys Titlestone developer and loan book in £274m deal with Oaktree Capital Management July 3, 2018 Challenger bank Paragon today announced the purchase of £48m residential developer Titlestone and a £226m loan book from Oaktree Capital Management. Paragon, which offers mortgage and business lending, said the moves are part of a strategy to diversify into specialist lending markets. Titlestone advanced £274m in loans to small and medium-sized developers during the year [...]