London’s Wealthy Seek Slice Of Downton As Prices Rise

Yet executives at Noble Corp. (NE) , a provider of deepwater oil drilling rigs, are in the process of moving headquarters from Baar to the British capital, citing the talented workforce and easy airline connections from Heathrow, Europes busiest international airport. On top of that, the U.K. tax rate is now competitive with Switzerland s historically corporate-friendly tax regime. Noble is part of a wave of overseas companies moving head offices to London, lured in part by the countrys declining corporate taxes. The relocations underscore Prime Minister David Cameron s efforts to make the country more attractive to foreign companies — and may help London become less dependent on the financial services industry, which has been retrenching since the 2008 crisis. There is definitely a swing back to the U.K. under way and I think there will be more, said Angus Winther, a senior adviser at investment bank Evercore Partners Inc. in London. There are huge advantages: you have a vast talent pool, infrastructure, language, and lowered tax rates. Last year 45 foreign companies moved their global or regional headquarters to London, up from just 25 in 2009, data from research group FDI Markets show. Among the moves this year: General Electric Co.s oil and gas unit, which is departing Florence, Italy .

Crest Nicholson Says U.K. Way Off Housing Bubble

pubdate:10/16/2013 15:46 EDT! commentPeriod:14! commentEndDate:10/30/13 3:46 EDT! currentDate:10/16/13 8:0 EDT! allowComments:true! displayComments:true! Protesting firefighters serenade Judi Dench at London premiere of Philomena CAPTION By Associated Press, LONDON Judi Dench has been serenaded by firefighters as she arrived for the London premiere of her latest film. Dench walked the red carpet in Leicester Square Wednesday for the London Film Festival screening of Philomena. Looking for things to do? Select one or more criteria to search Kid-friendly Get ideas The movie tells the true story of Irishwoman Philomena Lees quest to track down the son she was forced to give up for adoption 50 years earlier. Members of the Fire Brigades Union, drinking at a pub after a protest march against pension cuts, spotted the 78-year-old star, chanted We love you Judi and broke into a rendition of Beatles song Hey Jude. The Stephen Frears-directed film also stars Steve Coogan as Martin Sixsmith, a journalist who helped Lee in her search and wrote a book about her story. Copyright 2013 The Associated Press.

Protesting firefighters serenade Judi Dench at London premiere of ‘Philomena’

Men react as they struggle against a strong wind and rain caused by approaching Typhoon Wipha at a business district in Tokyo October 16, 2013. A once-in-a-decade typhoon threatened Japan on Tuesday, disrupting travel and shipping and forcing precautions to be taken at the wrecked Fukushima nuclear power plant.   REUTERS/Toru Hanai (JAPAN - Tags: DISASTER ENVIRONMENT TPX IMAGES OF THE DAY)

reached the most in nearly four years in July, according to the Royal Institute of Chartered Surveyors . That helped push the value of prime country homes up for the third consecutive quarter, Knight Frank said. House prices in affluent areas about an hour from London climbed 1.6 percent during the three months, while those in the remainder of the south of England climbed 1.2 percent, according to Savills. Homebuilders Rise U.K.s homebuilders have been among the biggest beneficiaries of revived housing demand. An index of the companies rose 0.9 percent today to close at the highest in two months. That extended its advance to 48 percent this year, compared with a 10 percent gain for the FTSE 100 Index . Persimmon Plc , the largest U.K. builder by market value, rose the most in almost two months on Oct. 9 after Goldman Sachs Group Inc. said the stock may increase by 70 percent within six months. Homebuilders are increasing productivity to satisfy new demand, which may be a mixed blessing for country estates. Prices are moving up against a background of four years of low supply in the country-house market, Bailey said. If this positive sentiment pulls in more supply, that will hang a question mark over the sustainability of this growth. For Hudson, waiting to sell his London home proved fortunate as prices rose in the capital, while he said they fell last year where he was looking.

London’s Tech City picks first 25 firms for help to grow

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