Hammerson and Westfield plans for Whitgift Centre win approval November 25, 2013 PLANS for the £1bn redevelopment of the Whitgift Centre in Croydon were given the go-ahead by the council’s planning committee last night. Developers Westfield and Hammerson have been granted outline planning consent to convert the tired 1960s shopping centre into a 1.5m square feet retail and leisure destination with 600 new homes. The scheme, which [...]
Japanese firm buys Canopius in £594m deal December 18, 2013 JAPANESE insurance group NKSJ yesterday confirmed its £594m deal to buy Lloyd’s of London underwriter Canopius, becoming the latest firm to make inroads into the City’s historic insurance market. NKSJ will buy Canopius, its biggest ever acquisition, through its Sompo Japan subsidiary. The purchase means a windfall for Bregal Capital, whose funds own just over [...]
Merlin plumps for 315p price for new shares November 7, 2013 SHARES in the Madame Tussauds owner Merlin Entertainments will start trading today following a sales process that had to be brought forward because it was going so well. Advisers to the float, which include Goldman Sachs, Barclays, Citigroup, Morgan Stanley and Lazard, yesterday agreed a price for the new shares of 315p, valuing the firm [...]
Pictures: Husky delivery service trialled in the City October 21, 2013 After Winter deliveries have been disrupted by adverse weather in previous years, same day courier CitySprint is now trialling a novel new delivery method in the City – packages via sled dog team. Trained huskies have been used in London today in an attempt to see if they could help minimise disruption caused by extreme [...]
The Long View: Celebrate your festive commercialism – it’s an act of love in a free society December 19, 2013 IT’S A SHAME all the shopping has to spoil the true meaning of Christmas. Or so we get told at this time of year, usually by the same prophets of good cheer who want us to celebrate the season by donning hair shirts and cutting back on the booze. How wrong they are. And how [...]
Bonmarché rises on AIM debut November 20, 2013 OVER-FIFTIES clothing chain Bonmarché kicked off its first day of trading yesterday on London’s junior market after an initial public offering that raised £40m. Shares closed up at 220.5p last night, above the original offer price set last week of 200p a share and valuing the retailer at £110m. Some analysts have criticised the company [...]
Sunday shoppers give London retailers a run for their money July 22, 2012 AS THE Olympic torch wound its way around the streets of London yesterday, the city’s shopkeepers did their best to tempt milling spectators through their doors by using new powers to extend their Sunday trading hours. Recent profits at several high street names have fallen flat as the expected Jubilee Jump failed to materialise, and [...]
We’re seeing respectable growth for a New Normal but real risks still remain February 1, 2014 UK ECONOMIC growth is looking up. The 0.7 per cent GDP increase in the fourth quarter of 2013 might not have been as strong as some commentators were expecting, but it means economic activity is up a full 2.8 per cent on a year ago. It’s not as strong as the 3.3 per cent growth [...]
We’re seeing respectable growth for a New Normal but real risks still remain January 28, 2014 UK ECONOMIC growth is looking up. The 0.7 per cent GDP increase in the fourth quarter of 2013 might not have been as strong as some commentators were expecting, but it means economic activity is up a full 2.8 per cent on a year ago. It’s not as strong as the 3.3 per cent growth [...]
City Moves for 27 November 2013 | Who’s switching jobs November 26, 2013 Aecom Patrick Flaherty has been appointed managing director for the UK and Ireland at the technical and management support services firm. He joins from Fluor, where he was managing director of its UK operations and led its infrastructure business. Axa Investment Managers The asset management division of Axa has announced the appointment of John Porter [...]