Highest London house prices dip: Kensington and Chelsea, Camden and Richmond fall as bottom end gets boost from first-time buyers July 19, 2015 Some of the capital’s most expensive residential areas saw house prices drop sharply this month, according to data released today, with high demand supporting the lower end of the market. In Kensington and Chelsea, London’s most expensive borough to buy in, prices dropped 7.2 per cent from June to July, according to Rightmove. [...]
Government to fast track plans for UK fracking July 19, 2015 Fracking could begin in the UK sooner than previously expected, following the government’s decision to award onshore oil and gas exploration licences in two stages, fast tracking the applicants whose proposals do not require extensive environmental assessment. The department for energy and climate change (DECC) will grant a number of licences from the fourteenth round [...]
Gaucho steak restaurant deal on the table amid flurry of sales in industry July 19, 2015 The Gaucho chain of steak restaurants, popular with hungry City workers, is up for sale. Bankers at Canaccord Genuity have been hired to work on the sale, with private equity firm ICG and Dutch entrepreneur Zeev Godik hoping to raise up to £150m. The industry has been ripe for deals in recent times, with brands [...]
BAE Systems on hunt for exports and replacement for Ian King July 19, 2015 Defence company BAE Systems is on the lookout for a new leader, but is yet to launch a formal recruitment process. The group is considering its options to replace current chief executive Ian King. A spokesperson for the company said yesterday: “We have not launched a formal succession process; we are simply scanning [...]
Afren’s future hangs in balance after Luxembourg suspension July 19, 2015 Oil firm Afren is facing an uncertain future as shareholders prepare to vote on the proposed financial restructuring of the company. The group is due to meet next week in order to establish its next move, having suffered a series of setbacks over the past 12 months. Trading on the London Stock Exchange [...]
Anglo American lowers the bar for chief executive Mark Cutifani July 19, 2015 Mining group Anglo American has lowered the bar at which chief executive Mark Cutifani reaches his performance targets, a controversial move as shares in the company this month fell to a 12-year low. Cutifani, who was paid £3.7m last year, makes around half of his yearly take-home pay through a long-term incentive plan (LTIP) based [...]
Oxford Street flagship John Lewis home unit to reopen after £14m makeover July 19, 2015 After eight months of closure and a £14m makeover, John Lewis’ home department at its flagship store is set to reopen to the public. The Oxford Street department store will open the doors to its updated home section in September, having added several new features including a “rug gallery” exclusive to the store. John Lewis [...]
Ladbrokes eyes up a quick move for Gala Coral July 19, 2015 Ladbrokes could strike a deal with online bingo company Gala Coral as early as this week, creating a high-street and internet gambling empire. Ladbrokes, valued at £1.2bn, is expected to issue new shares to buy Gala, which is owned by a collective of private equity investors including Apollo Global Management, Candover Investments and Cerberus [...]
Redundancy payouts decline as pressure to cut costs eases July 19, 2015 Redundancy payments have fallen to their lowest level since the recession, according to new figures published today. Redundancy payouts to workers totalled £3.5bn in the 12 months ending April 2015, down 10 per cent on the year before, commercial law firm EMW said. The number of payments has also dropped 10 per cent from 284,000 [...]
Upbeat Brits keen to splash holiday cash July 19, 2015 Confident Brits are preparing to splash out more while on holiday this year, according to survey figures published yesterday. Of over 2,000 holidaymakers surveyed by Sainsbury’s Travel Money, 33 per cent said they were planning to spend more abroad this summer, compared to 12 per cent who said they would spend less. Travel agents had [...]
