Tech firms’ confidence will help us build a UK Facebook or Google February 4, 2015 Tech City’s UK’s Tech Nation report today confirms what many of us in the tech sector have long known to be true: the UK’s digital businesses are flourishing and are set to become even more vital to our economy in the next few years. Fortune favours the brave, and we have the potential in this [...]
Southbank gets the thumbs up from Ignis Property Fund with £30m purchase January 12, 2015 The Ignis Property Fund has bought a slice of the Southbank’s regeneration, having acquired the freehold of both a residential and commercial space in Southwark for £30m. The investment firm has bought 1 America Street and 29 Great Guildford Street, an office and residential building on an island site, from the Trustees of the SE10NE Co-ownership. [...]
Political uncertainty: The greatest threat to Britain’s thriving small businesses January 21, 2015 In the depths of the financial crisis, we were approached by a small house builder in the South East who was looking for finance to refocus his business towards the higher end market. A gamble at the worst possible time, you might say. But five years on, and his business is thriving. It’s a small [...]
Selling public land is just the start: Three steps to solve London’s housing crisis November 19, 2014 WE HAVE got to the stage that, if you don’t know there’s a serious housing shortage in London, I’d assume you must be living in a cave. This shortage comes with increasingly obvious social and economic ramifications. London First recently published research showing that more than half of workers (56 per cent) have difficulties paying [...]
The finance sector is doing digital better than any other industry January 14, 2015 The financial services industry can give itself a pat on the back. Customers are seriously happy with the digital services on offer from banks, building societies, insurance companies and other financial institutions and they also love doing their banking online just as much as they love doing shopping. The surprise findings from a new report [...]
UK construction growth slows December 2, 2014 Output in the UK's construction sector grew by a its smallest since October last year last month, figures published today show. The Markit/CIPS Construction Purchasing Managers' Index fell to 59.4, from 61.4 in October – although it still remained way above the 50 mark which denotes contraction. Analysts suggested the contraction was down to weaker [...]
Virgin Money share price jumps as underlying profit more than doubles after IPO March 5, 2015 The figures Shares in recently-listed challenger bank Virgin Money rose almost five per cent in late morning trading, after it posted figures showing full-year underlying pre-tax profit soared 127 per cent thanks to its swelling mortgage loan book. The challenger bank, which floated in November, said underlying pre-tax profit was £121m in 2014, up from [...]
Jaguar to create 1300 UK jobs with the launch of its first SUV at the Detroit Motor Show January 11, 2015 Jaguar Land Rover will create 1,300 jobs when it drives into the sports utility vehicle sector next year, with the launch of its own 4×4 SUV to be unveiled at the Detroit Motor Show later today. The new model is based on the C-X17 concept car which was first showcased at the Frankfurt motor show [...]
Alliance Trust tells Elliott Advisors directors: You’re male, pale & stale March 19, 2015 Alliance Trust is preparing a campaign against the three industry veterans its biggest shareholder is trying to get voted on to the board, City A.M. understands – arguing that the experienced bosses do not match the firm’s modern, creative model. Activist investor Elliott Advisors is engaged in a fierce battle of wills with the FTSE 100 [...]
Is London FinTech recession-proof? January 21, 2015 The global financial tech capital faces few challenges. London's financial technology (FinTech) sector is booming. In the last few weeks alone consulting services giant Accenture opened its third London FinTech accelerator programme – whose alumni includes one of the capital’s most promising FinTech startups Digital Shadows. And last week the Canary Wharf Group added [...]