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Category Archives: Market Trends & News

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House of Fraser’s survival bid creates anger and fear ...

They are ghosts from the retail past: Hugh Fraser, James Howell and John Rackham. Long-dead retail entrepreneurs who made their fortunes opening local department stores when they represented an exciting future. But last week the stores, still affectionately called Frasers, Rackhams and Howells by local shoppers who resisted attempts to rebrand them, were on a brutal closure list announced by stricken department store chain …

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House of Fraser landlords up in arms over CVA rent cut...

A group advising House of Fraser landlords has hit out at proposals that would see them “take all the pain” while shareholders benefit from £70m pumped into the ailing department store chain. House of Fraser is proposing to close of 31 of its 59 stores, and as part of a rescue plan is seeking creditors’ permission to slash rent bills at these outlets, as …

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House prices rise by 1.5% in May – Halifax | Money

House prices rose by 1.5% in May according to Halifax, partly reversing a steep fall the month before, but leaving average values flat over the year so far. On a quarterly basis, house prices were up just 0.2% in the three months from April to May compared to the previous quarter, while the annual inflation rate stood at 1.9%. Monthly data from Halifax has …

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Persimmon pay panel chief unable to tell MPs firm̵...

Persimmon’s executive pay row was reignited on Wednesday after the head of the housebuilder’s remuneration committee said she did not know how much the average worker was paid by the firm. MPs on the business, energy and industrial strategy (BEIS) committee were stunned by the admission from Marion Sears, who was giving evidence after Persimmon angered shareholders earlier in the year by handing its …

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UK house prices fall in May as pressure on household b...

House prices fell in May as a faltering economy, pressure on household budgets and the prospect of interest rate rises dogged the market. Figures from Nationwide show prices declined by 0.2% month-on-month, the third fall in four months. On an annual basis, price growth slowed to 2.4% from 2.6% in April. Robert Gardner, the building society’s chief economist, said: “There are few signs of …

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Skyscrapers wreck cities – yet still Britain builds th...

I love towers and hate towers. I love those of Siena and San Gimignano and the skyscraper clusters of Manhattan and Dubai. I admire the design of London’s Canary Wharf, and of the Shard, if only it had not been dumped on Bermondsey. I do not love the ugliness now being scattered at random along the banks of the Thames or the squalor of London’s …

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Landlords to fight use of CVAs by retailers seeking re...

High street landlords are gearing up for war with retailers, whom they accuse of railroading them into agreeing to rent cuts via increasingly controversial company voluntary arrangements (CVAs). Struggling businesses including the department store chain House of Fraser, the children’s retailer Mothercare and the Carluccio’s Italian restaurant chain are all seeking CVAs, where property owners accept lower rents to help a tenant avoid financial …

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Bovis Homes hit by shareholder revolt over pay of inte...

Bovis Homes has suffered a sizeable shareholder revolt over the pay package it awarded its interim chief executive for fighting off two hostile takeover bids and steadying the business after a scandal over badly built homes. At the housebuilder’s annual meeting at the Spa Hotel in Tunbridge Wells, 37.6% of shareholders voted against the Bovis remuneration report but it was passed with the backing …

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House prices tumble in London against rises across res...

House prices in London tumbled in March, with the annualised rate of inflation dropping to minus 0.7%, the steepest fall since 2009, according to official Land Registry figures for March. The falls in the capital contrast with continued rises across the rest of the UK, with the overall rate of house price inflation at 4.2%, with the highest rise in Scotland at 6.7%. Property …

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Turning Queen Mary’s House into luxury flats would lea...

The response of Stephen Clark, spokesman for planning on London’s Camden council, to the marketing of Queen Mary’s House as potential luxury flats (NHS privately planning to turn London hospital building into block of luxury £10m flats, 19 May) is mealy-mouthed to say the least. His concerns should extend beyond the fact that the hospital has not applied for planning permission and that the council …

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