Lesson 21 Flashcards
Who owns properties in London?
Foreign companies
Why is property in London attractive for Elite Russian Investment?
Good investment for foreign purchases e.g. Russian Oligarchs
Increase property prices in London due to competition between wealthy overseas buyers
Change in the cultural diversity in London
Increase in cafes and other retail to meet needs of overseas owners
What are the costs of foreign ownership in the UK? (5)
May not have interest in British culture
Different expectations of tenets
UK lose income, sold property money goes out of country. Profit not spent in British economy.
Cultural erosion, different shops and culture
Many not record fiances
What are the benefits of foreign ownership in the UK? (4)
More money than local buyer
increased investment
boost taxes
Increased commission for estate agents
How did the takeover of HP sauce manufacturers by Heinz impact on an iconic brand?
The brand was passed from the Midlands Vinegar Companyto Smedley HP Foods Limited, acquired by a division ofImperial Tobacco, then sold to the Frenchcompany Danone SAin 1988 for £199million. However, manufacturing was kept in the UK. In June 2005,Heinzpurchased the parent company,HP Foods, fromDanone. In May 2006, Heinz announced plans to switch production of HP Sauce from Aston in Birmingham to its European sauces facility. The move was heavily criticised
