Stock markets have retreated again over worries of further US interest rate rises after the Federal Reserve defied Donald Trump to increase rates for the fourth time this year.

The EU has confirmed it is “actively investigating” a potential breach of its diplomatic communications network, following reports that secret cables had been stolen by hackers.

The Bank of England has welcomed a “crucial and positive” move by the EU to help keep a key part of the financial system functioning in the event of a “no-deal” Brexit.

A handful of banks will be forced to write multimillion pound cheques to buy shares in the construction giant Kier Group after some of its biggest investors snubbed the chance to take part in a £250m fundraising.

GlaxoSmithKline (GSK) is to merge its consumer healthcare unit with that of rival Pfizer, to create a new market leader with almost £10bn in annual sales.

 

Santander has been fined more than £30m for “serious failings” in processing the accounts of dead customers, the Financial Conduct Authority (FCA) says.

REAL ESTATE TOP STORIES

Europe increases its property investment in Central London

Europe increases its property investment in Central London

Fresh figures reveal that the proportion of foreign money being injected into the capital’s commercial property market has hit an all-time high

Resurging demand from European buyers have helped drive Central London’s booming office space market in the last three months—out of which, foreign buyers accounting for a record 92% of total investment in the third quarter of 2018.

While overall levels of investment decreased from £5.2bn($6.7bn) in the second quarter of 2018 to £.4.1bn($5.3bn) in the third quarter, European investment more than doubled after hitting £1.7bn($2.2bn) in the three months to the end of September.

Asian buyers have largely dominated the last year, with their appetite for skyscrapers and major office blocks—however several landmark deals from major European investors have been noticed.

The Spanish billionaire founder of fashion chain Zara, Amancio Ortega, recently snapped up The Adelphi building for £550m using his real estate arm Ponte Gadea, while German investor Deka also splashed out £460m for Victoria’s Verde office development.

“London office investment volumes continue to be supported by a robust occupational market with low vacancy levels, and take-up well above the 10-year average. Attractive yields relative to other European cities, coupled with the comparative weakness of sterling, mean we have seen investors from all corners of the globe hungry to deploy capital in London,” stated CBRE’s head of London investment properties James Beckham.

He added: “There may be some hesitancy from a few investors over the next six months as we enter the latter stages of the Brexit negotiations, but total investment volumes for the year look set to be broadly on par with 2017, once again highlighting the strength of demand for London assets.”

The figures, released by CBRE, come after a report from Cushman and Wakefield showed that London has held its position as the top city for cross-border property investment this year for the ninth time in a decade

Leave a Comment