We can reform London’s rental sector without demonising landlords May 27, 2014 THE SHADOW of Peter Rachman, the epitome of the rogue landlord, still lingers over the rented sector. Yet deregulation in the late 1980s means it is incomparable with the rent-controlled, deteriorating rump stock of old. Today’s rented sector houses a phenomenally diverse 2m Londoners. There isn’t a typical renter. Every income group is represented equally, [...]
Bonmarche profits soar June 13, 2014 Women's retailer Bonmarche has enjoyed a massive rise in profit before tax of 66 per cent, to £8m for the year ended 29 March. Like for like sales grew by over 10 per cent, with revenue climbing 12 per cent to £164m. The company's market share of women's value sector also rose by a hefty [...]
Gatehouse Bank appoints new boss to grow the firm in London May 21, 2014 GATEHOUSE Bank, the Shariah-compliant lender, yesterday unveiled a new boss to take over from current chairman and chief executive Fahed Faisal Boodai, who will remain in his role as executive chairman. Henry Thompson, who has been working in Shariah-compliant finance at Arcapita as head of legal, will take over the role with immediate effect. “I [...]
Cinven clinches €510m fibre broadband move June 9, 2014 PRIVATE equity group Cinven has won a hotly contested auction to buy a Spanish fibre broadband company and take advantage of sector’s blossoming role in Europe and emerging markets. The group, based in Paternoster Square, will pay €510m (£413m) to carve out the telecoms unit of Gas Natural Fenosa, a Spanish utility company. The unit, [...]
London Report: Housebuilders drag on FTSE 100 after near-record highs June 23, 2014 BRITAIN’S top equity index fell yesterday for the first time in a week as declines in housebuilding shares weighed on the market, which had been approaching record highs. The blue-chip FTSE 100 index, which had risen for the last four sessions, ended down by 0.4 per cent, or 24.64 points, at 6,800.56 points – some [...]
We’ve discovered the UK’s tech unicorns – now we must nurture their growth September 7, 2014 After creating its first product in the 1970s, it took Apple years to become one of the world’s most valuable companies. But in today’s technology sector, a new breed of tech firm is emerging – the unicorn. The unicorn is a startup that grows exponentially to reach a billion-dollar valuation within a few years of [...]
NHS hospital trust on verge of ending private finance contract June 9, 2014 INVESTORS behind a private finance initiative (PFI) contract used to build Hexham General Hospital in Northumbria in 2002 will be bought out of their contract by the local NHS trust. Northumbria Healthcare NHS Foundation Trust is on the verge of securing a £115m loan from the local council, Northumberland county council, to effectively refinance the [...]
Apple and IBM team up to create new business apps July 16, 2014 Apple and IBM are partnering up to co-develop business-centric apps for iPhones and iPads, which they intend to make available later this year. The new class of “made-for-business apps” will target specific industry issues and opportunities for clients in sectors such as retail, healthcare, banking, travel and insurance. The two companies intend to [...]
Forget the licence fee: Why Game of Thrones damns the case for a universal BBC July 21, 2014 Ahead of the 2016 Charter Review, the BBC is bunkering down to defend its funding through the licence fee. Last week alone saw director-general Tony Hall and head of policy James Heath robustly justify the continuation of the £145.50 annual charge for all those households who watch any type of live TV. It would be [...]
Why business must work with politics for the good of society – ACCA Comment September 17, 2014 The relationship can be dysfunctional, but collaboration works to the benefit of all. On the day that Scotland votes on the most tightly contested constitutional issue the United Kingdom has ever faced, questions have been raised about the relationship between business and politics. The two are undeniably intertwined; arguably business and politics are [...]