Unilever share price rises as it reveals plans for business review in wake of collapsed Kraft Heinz deal February 22, 2017 Consumer goods giant Unilever has pledged to shake-up its business on the back of a £113bn botched takeover attempt by rival Kraft Heinz. The FTSE 100-listed consumer products group issued a statement to the Stock Exchange in the wake of a collapsed potential deal with US rival Kraft Heinz, which is part-owned by Warren Buffett and [...]
This London developer has slashed its land value by 20 per cent February 22, 2017 London developer Capital & Counties Properties (Capco) has cut the value of its Earl's Court development by 20 per cent. In its results for the year, the company said the value of its Earl's Court site had fallen from £1.4bn to £1.1bn. However, analysts were expecting it to be worse. JP Morgan has predicted a 30 [...]
This one graph explains the horrors of London house prices – and why London renters are trapped February 22, 2017 If thinking about the London housing market is likely to give you a brain haemorrhage, do not read this. New figures from the Office for National Statistics (ONS) show just how ridiculous house price rises have been in the capital over the last six years, and why London renters are also being screwed. Read more: [...]
Property groups warn £20bn of development finance at risk from government’s finance bill February 21, 2017 The property industry is calling on the government to change its finance bill, warning that measures to clampdown on multinational tax avoidance will also put £20bn of finance for UK developments at risk. The UK government is cracking down on tax avoidance in its annual finance bill by limiting companies claiming interest as a tax-deductable [...]
In full: The letter Sadiq Khan sent to chancellor Philip Hammond on business rates February 21, 2017 London mayor Sadiq Khan has joined forces with a host of business groups to write to chancellor Philip Hammond, warning him about how business rate changes will hit the capital. Business rates changes will come into effect on 1 April, and the new taxes are tied to rents across the UK. As rents have jumped [...]
Clarks looks to revamp its property portfolio February 21, 2017 Clarks is looking to revamp its presence on the high street with a review of its property portfolio, conducted by consultancy Harper Dennis Hobbs. As part of the review, Harper Dennis Hobbs will be examining Clarks' 550 outlets to see if the company is in the right locations, and has the right type of stores. [...]
Sadiq Khan “shocked” at business rate rises that threaten small firms February 21, 2017 London mayor Sadiq Khan has said he is "shocked" by the business rate rises set to hit the capital, and has told chancellor Philip Hammond the tax changes could wipe out firms across the city. He has warned that the changes to commercial property taxes, which will come into effect on 1 April, could force the closure [...]
Galliford Try commits to building more homes February 21, 2017 Galliford Try's share price edged upwards this morning after the housebuilder's profit jumped, and it said it had a confident outlook on the year ahead. The figures For the six months to the end of 2016, group revenue grew four per cent, up from £1.18bn to £1.24bn. Galliford's profit jumped 19 per cent, from £52.9m to [...]
Business rates fight intensifies as government accused of misleading MPs February 20, 2017 The row over business rates is heating up with businesses hitting back at the government's claim that they will receive a tax cut. The government has retaliated at the business groups that are demanding reform to business rates, saying that three in four businesses will receive a rates cut, or won't be affected. Read more: The business rates backlash [...]
West End property hit despite surge in interest from Chinese buyers February 20, 2017 The value of commercial property transactions fell in January despite a surge in interest from Chinese buyers. According to numbers from real estate agents Savills, £841m worth of commercial properties were transacted in January this year, down from £895m in the same month last year, representing a fall of around six per cent. However, Chinese buyers are [...]
