Brompton Bicycle moves up a gear with new factory in West London August 18, 2015 Commuters’ favourite folding bike Brompton Bicycle is opening a new manufacturing and distribution hub at SEGRO’s Greenford Park, in Park Royal, West London. At just over 86,000 sq ft, the unit will be transformed into a manufacturing and distribution hub where highly skilled craftspeople will continue to manufacture the bikes and accessories. Will Butler-Adams, the [...]
Royal Dutch Shell gets final permit to drill for oil in Arctic Ocean August 17, 2015 The US Federal government has given Royal Dutch Shell a final permit to search for oil under the floor of the Arctic Ocean – an activity it has been banned from carrying out for two decades. The Anglo-Dutch oil and gas company has already been drilling in the area just off the northwest coast of [...]
Britain gets into shape as spending on gyms soars August 17, 2015 Britain's obsession with fitness has showed no signs of slowing over the past year as spending on gym memberships soared 44 per cent. Budget fitness chains such as Pure Gym and the Gym Group have helped to shake-up the sector over the last five years by offering cheap memberships, scrapping contracts and catering to people [...]
Four things we know about Quindell’s new chief executive Indro Mukerjee August 17, 2015 Quindell today announced the appointment of new chief exec Indro Mukerjee, two months after the departure of Robert Fielding. Mukerjee, who takes the helm on 7 September, said he plans to focus on improving its offering to customers, as well as boosting shareholder value. Here are four things we know about the insurance outsourcer's new boss. He was [...]
Quindell share price edges up as it appoints Indro Mukerjee as chief executive August 17, 2015 Shares in embattled insurance outsourcer Quindell rose 2.15 per cent after it announced it had appointed a new chief executive, two months after the departure of Robert Fielding. Read more: Four things we know about Quindell's new chief exec Indro Mukerjee will start his job on 7 September. His appointment came as the company's business and [...]
Government hires Lazard and Savills as multi-million pound sale of 36.5 per cent stake in King’s Cross Central kicks off August 17, 2015 The government has kicked off the sale of its 67-acre site around London's King's Cross station. Investment group Lazard and high end estate agent Savills are handling the deal. Interested parties have been urged to contact Lazard by 7 September. The decision to sell the government’s 36.5 per cent stake in King’s Cross [...]
Network Rail is poised for £1bn sale of properties including Vinopolis site and Brixton arches August 16, 2015 Network Rail has taken the first step towards selling off its £1bn commercial property portfolio after hiring bankers to conduct a review of its estate. The government-backed organisation, which runs all of Britain’s rail infrastructure, confirmed that it is working with boutique investment bank Rothschild to explore ways in which it can “make more [...]
Morrisons nears deal to offload M Local stores August 16, 2015 Morrisons is in talks to sell its convenience stores to the investment firm behind the rescue of Monarch Airlines as the struggling supermarket chain focuses on reviving its core business. The Bradford-based retailer is said to be nearing a deal with a team of industry executives led by Greybull Capital to offload its M Local [...]
Bob Diamond snaps up stake in New York trading outfit South Street August 16, 2015 Former bank chief turned investor Bob Diamond has snapped up a stake in New York-based repo-trading outfit South Street Securities, diversifying his portfolio since his exit from Barclays three years ago. Diamond, who was pressured to bow out of Barclays in the wake of the Libor scandal, has been actively engaged in his emerging markets [...]
Wood Group to slash thousands of jobs amid oil price plunge August 16, 2015 Top oil contractor Wood Group has been forced to slash thousands of jobs as tumbling commodity prices continue to ravage key North Sea producers. The FTSE 250-listed firm cut more than 4,000 jobs in six months, with at least 1,000 in Britain, its half-year results are expected to show tomorrow. Earlier this year, Wood Group [...]