UK growth threat as construction sector output falls for the first time since May 2013 October 9, 2015 Output in the UK construction industry fell unexpectedly in August – its first fall since May 2013. Figures by the Office for National Statistics published this morning showed construction fell 4.3 per cent in August compared with the month before, and 1.3 per cent compared with the same month in 2013. The news came as [...]
John Lewis and BlackRock to convert Beechwood shopping centre into £30m Cheltenham store October 9, 2015 Cheltenham's Beechwood shopping centre is being converted into a new £30m John Lewis department store, the retailer confirmed today. John Lewis, BlackRock and Cheltenham Borough Council are combining forces (and resources) to transform the centre – which is currently home to rival department store Debenhams and high street staple Next – over the next two [...]
Elon Musk: Apple hires the engineers Tesla fires October 9, 2015 Elon Musk has lashed out at Apple, suggesting the company is the “Tesla graveyard” which hires his company's rejects. The outspoken chief executive and billionaire investor has hit back at suggestions Apple has been pinching Tesla’s engineers as it pushes into the car sector, saying in an interview with German newspaper Handelsblatt that Apple is where you go [...]
USC workers win case against Mike Ashley’s Sports Direct October 9, 2015 Workers at fashion chain USC that was put into administration by parent company Sports Direct earlier this year have won a legal battle against the firm, giving them redundancy pay that could run into thousands of pounds each. Staff had complained that they were given just 15 minutes notice before they lost their jobs. In [...]
Lloyds share sale: More than 120,000 investors clamour for £2bn retail shares through Hargreaves Lansdown alone as Treasury reduces stake October 9, 2015 Demand for Lloyds Banking Group shares among individual investors is expected to dwarf that of Royal Mail's sell-off. Earlier this week, the government revealed plans for a £2bn retail sell off of shares, offering investors a discount of five per cent of market price. Those who keep their holding for more than a year will receive [...]
Emerging market debt threatens global economy according to IMF warnings October 8, 2015 The global economy is struggling under a mountain of debt and heading for a fresh financial crisis, the International Monetary Fund (IMF) has said. Emerging market debt is chief among the “triad” of risks facing the globe, as these economies have over-borrowed by $3.3 trillion (£2.15 trillion) in the last decade, the IMF said in [...]
Dunelm share price climbs as furniture chain announces acquisition of pillow firm Fogarty October 8, 2015 Shares at Dunelm climbed higher yesterday after the furniture chain announced a rise in first quarter sales and announced it has acquired 200-year-old pillow group Fogarty. The FTSE 250 homeware retailer, which sells everything from curtains to bed linen, said like-for-like sales rose by 4.4 per cent to £171.8m in the three months to 3 October. [...]
City Moves for 09 October 2015 | Who’s switching jobs October 8, 2015 KNIGHT FRANK The property consultancy has announced the appointment of Rob Macnab as partner in its City leasing team. He joins from Kinney Green, where he was an equity partner specialising in the midtown office market. Macnab has worked for clients including O&H Group, Aberdeen Asset Management and DTZ IM. AXA INVESTMENT MANAGERS Tom Clapham [...]
Dow crosses 17,000 for first time in weeks – New York Report October 8, 2015 Signs of dovishness in the Federal Reserve September meeting minutes which shed light on its decision to keep interest rates near zero helped to maintain an upward momentum in US stock markets. The Dow Jones industrial average rose 137.86 points, or 0.82 per cent, to 17,050.15, the S&P 500 gained 17.56 points, or 0.88 per [...]
Galliford Try share price rises as it wins contract for Luton and Dunstable University Hospital October 8, 2015 Galliford Try has stepped up its presence in the healthcare market after winning a contract to help with the £150m redevelopment of Luton and Dunstable University Hospital. The company's share price closed up by 1.01 per cent following the announcement. The housebuilder and construction group said has been appointed as preferred supply chain partner under ProCure [...]
