The latest London Office Marketplace News http://www.devono.com/ 2008-11-22T00:00:00Z Troubled Icelandic bank Kaupthing is now closer to finding a partner for its central London development scheme.The lender is said to be in discussion with Elliot Bernard, Chelsfield Partners, Stanhope and Great Portland Estates.The bank itself could be taken over by Danish lender FIH, with the new owner possibly taking over its assets, Iceland Revi... http://www.devono.com/News/Kaupthing-gets-closer-to-finding-partner/18889638/ 2008-11-21 00:00:00 More flexible contracts are essential to boost the commercial property sector and prevent companies from vacating offices in London and other parts of the UK.That's according to the Forum of Private Business (FPB) which says that the commercial property market is facing a tough time and needs to be less ridged. Other reasons behind the market diffi... http://www.devono.com/News/Commercial-property-'needs-flexible-contracts'/18867830/ 2008-11-10 00:00:00 Offices in London can breath a small sigh of relief after the Centre for Economics and Business Research said that there is "starting to be some light at the end of the tunnel" for the financial crisis.However, the group warned that businesses should still be aware that there is still a long way to go in terms of the economic downturn.Eco... http://www.devono.com/News/'Light-at-the-end-of-the-tunnel'-for-financial-crisis/18861391/ 2008-11-05 00:00:00 A Ukrainian company has purchased one of the most pricey addresses in London, 1 Old Bond Street in Mayfair. The address, which is home to Watches of Switzerland and Ralph Lauren, has reportedly been sold for £1.4 millionProperty Week has reported that the price reflects a net yield of 3.8 per cent based on the rent of over £520,000 a year... http://www.devono.com/News/1-Old-Bond-Street-bought-by-Ukrainian-investors-/18836985/ 2008-10-21 00:00:00 American firm Poker Royalty has opened its first London office in response to an increase in gaming in Europe and Asia. Some of the world's most famous poker players are represented by Poker Royalty, including Daniel Negreanu, Patrik Antonius and Phil Hellmuth. The new office will be lead by Jim Erwood, who will become director of European Operatio... http://www.devono.com/News/Las-Vegas-poker-giant-opens-London-office-/18834509/ 2008-10-20 00:00:00 Office space in London us suffering more than its European counterparts in the global credit crisis. That is the opinion of Moody's Investors Service, which has said that a combination of rising vacancies, falling demand and a surplus of space has lead to the situation. Canary Wharf is baring the brunt of the problems, it said, deteriorating faster... http://www.devono.com/News/London-offices-suffering-in-economic-troubled-times-/18834493/ 2008-10-20 00:00:00 The FTSE 100 has again been hit by fears of a global recession.The index of leading shares dived to 4,079 yesterday and opened this morning even lower, having dipped under the 4,000-level.Asian markets weakened last night, with significant falls in Hong Kong (-7.6 per cent) and Japan (-11.4 per cent).Christian Gattiker at Bank Julius Baer told the ... http://www.devono.com/News/FTSE-hit-by-recession-fears/18829380/ 2008-10-16 00:00:00 The chancellor has pledged to do all he can to ensure that the financial system in the UK remains stable. Speaking in the House of Commons, Alistair Darling says that he will take action to provide support for banks and the banking sector as a whole. He confirmed that more than £40 billion is set to be injected into the financial system in ord... http://www.devono.com/News/Darling-'will-do-everything'-to-stabilise-financial-system/18813490/ 2008-10-06 00:00:00 Additional jobs are to be lost at the London offices of Lehman Brothers in Canary Wharf. A day after 750 jobs were axed at the firm, more are set to face the dole queue after no buyer could be found for the fixed income division of the investment bank. Speaking to the London Evening Standard, one analyst said that up to 200 positions were likely to... http://www.devono.com/News/More-Lehman-jobs-to-be-lost-in-London-/18806363/ 2008-10-01 00:00:00 HSBC has announced it is to cut 1,100 jobs, 500 of which are to go in London. The banking giant, which has its London officein Canary Wharf, said it was having to cut staff due to the global economic situation – putting an end to rumours it was to expand. Worldwide, HSBC employs 335,000 people, mainly in the UK, US and Asia and reports suggest... http://www.devono.com/News/UK-banking-giant-announces-job-cuts-/18799504/ 2008-09-26 00:00:00