FTSE 100 falls back as bank, mining and retail stocks slide January 19, 2011 BANKING and mining stocks weighed on London’s top share index yesterday as concerns over the global economic recovery resurfaced, while sentiment among retailers was dented after some disappointing updates. The FTSE 100 closed down 79.73 points, or 1.3 per cent lower at 5,976.70, ebbing away from Tuesday’s fresh 31-month high. “The market moved a long [...]
WHAT THE OTHER PAPERS SAY THIS MORNING April 14, 2011 FINANCIAL TIMES BOSCH WARNS JAPAN CRISIS WILL SLOW GLOBAL GROWTH The impact of last month’s Japanese earthquake will cut global economic growth by a quarter of a percentage point and could put a big dent in planed increase in car production this year, the head of the world’s largest car parts supplier warned. Franz Fehrenbach, [...]
LVMH makes Bulgari move to crack Asia March 7, 2011 LVMH will take over Italy’s Bulgari in a €3.7bn (£3.18bn) deal to fuel more sales in emerging markets. The offer could herald a flurry of consolidation in the luxury market, which has bounced back from the 2009 slump much faster than analysts expected. Bulgari shares were up 58 per cent at one point after yesterday’s [...]
Great Portland Estates portfolio lifted by strong London demand January 27, 2011 GREAT Portland Estates (GPE) said yesterday that rising property values helped push its net asset value up 3.8 per cent in the last three months of 2010. The FTSE 250-listed landlord now owns properties worth £1.55bn, which the firm said has been boosted by strong demand for leasing and investments in central London. Office rental [...]
Wall St fuelling new dot.com bubble April 4, 2011 WITH the benefit of hindsight, bubbles are shockingly easy to spot. From Dutch merchants staking fortunes on the price of tulip bulbs to Chinese investors fighting for empty properties, the idiocy is always self-evident – eventually. At the time, however, it seems to make perfect sense to throw good money after bad. Somewhere deep in [...]
US Embassy attracts £250m property scheme to Vauxhall February 3, 2011 TWO skyscrapers are being planned for Vauxhall, as developer CLS hopes to cash in on the multi-billion pound regeneration in the area. CLS aims to submit planning permission in late 2011 for two mixed-use towers of over 40 storeys at the Vauxhall Cross site, which is opposite Vauxhall Tube station and close to the new [...]
Rent soars for best West End window space August 22, 2010 WEST END retail rents are set to soar further in the wake of a record £700 per square foot lease secured by Spanish retailer Desigual. The fashion chain will pay the eye-watering sum for the lucrative window-side parts of the shop floor, as part of a deal with property investor Prupim last week. Desigual’s rent [...]
Shoppers hit as oil surges on Gulf fears March 7, 2011 HIGH STREET confidence faces a double battering, with the spiralling conflict in Libya pushing oil prices higher and new figures suggesting a 0.4 per cent like-for-like sales slump in February. Oil prices hit fresh highs again yesterday, coming after reports that fighting in Libya had closed the oil ports of Ras Lanuf and Brega. Brent [...]
Hannam left out in the cold for Glencore IPO March 7, 2011 BANKERS are already salivating over the sizeable fees associated with the upcoming flotation of the Swiss-based commodities group Glencore. The IPO, if it goes ahead (some think it may yet stumble), will be listed in London and Hong Kong and will bring in fees of £300m-plus to a group of banks that is likely to [...]
POLO COMES TO THE O2 AS PONIES AND PLAYERS LINE UP TO IMPRESS February 24, 2011 FOR the first time ever, polo ponies took to the floor at the O2 arena last night at the inaugural Gaucho International Polo event. Teams from England, South Africa, Argentina and Scotland (flying the flag for City A.M.) met in North Greenwich last night to bring a touch of the country to urban London, in [...]