Uk Estate Agent Foxtons Makes $1.2 Billion Stock Market Debut

UK authorities clear Ramdev after second round of questioning

I believe a red alert was attached to my name,” Ramdev said. UK authorities clear Ramdev after second round of questioning Earlier, the yoga guru told reporters he had “never done anything unethical or wrong”. He said, “I have been travelling to the UK and the US for eight years and I have never been treated the way I have been treated this time. “Since Friday, I have been asking the UK officials to tell me what my fault is,” he said. Ramdev further said he had followed all rules and visa conditions of the British government. “I would only expect that the way we respect the UK, they will show India and Indians the same respect. I’ll accept whatever they decide.” He is in Britain to chair a series of ‘yoga shivirs’ and talks organised by the Patanjali Yog Peeth (UK) Trust. The UK Home Office refused to comment on what it described as an individual’s questioning over immigration issues. Ramdev’s spokesperson S K Tejarawala dismissed reports that he was detained for carrying some medicines. “He was not carrying anything with him except a small bag of personal effects. It is for the British authorities to explain why he was detained,” he said.

A Foxtons estate agent sign is seen reflected in the window at a branch in north London September 3, 2013. REUTERS/Suzanne Plunkett

By 1425 GMT they were trading at 271.5p. Foxtons sold 60 percent of its equity to become the latest UK property-related company to float on the back of a recovering housing market, following real estate agency Countrywide (CWD.L) and housebuilder Crest Nicholson (CRST.L) earlier this year. Both have seen their shares rise more than 50 percent since going public, but some investors said last week Foxtons was late to the party and too exposed to London. While Britain’s housing market has been boosted by signs of an improving economy as well as help from the government and the Bank of England to ease access to finance, the pace of recovery has raised concerns about a new property bubble. Data last week showed British house prices recorded their fastest rise in almost seven years. However, despite being wary of proposed further government stimulus measures, housebuilding analyst Tony Williams said London was not yet experiencing a market bubble and rising interest rates in coming years would act as a natural brake. “A bubble is when you have people buying and flipping within the space of months. What you have in London is a shortage of supply and a planning system that gums up the works,” he said. “This particular run will end some time between the back end of 2014 and 2016, as rising mortgage rates will cause the market to plateau,” Williams added. Foxtons, which last year earned more than half its revenue from its lettings business, is focused on expansion within London, home to 40 of its 42 branches, and has said it is aiming for five to 10 new branch openings a year between 2014 and 2018. But analyst Anthony Codling at brokerage Jefferies said that while estate agents were the best way to gain exposure to the UK housing market, prospects were better for nationwide firms. “We see more significant potential for house price growth outside of London than inside,” he said in a note. Jefferies worked on Countrywide’s float.

UK authorities clear Baba Ramdev after second round of questioning

The immigration officer later allowed Ramdev to enter the UK lawfully and carry on with his programmes. Ramdev alleged that he did not get support from the Indian government and he suspected that the British officials were misguided. “I am sad to state that my government did not support me. I was told there was a red alert attached to my name, which is only linked with terrorists and criminals. I will wait for full details but I have a doubt that my eight-hour detention yesterday was a result of the Indian government’s attempt to misguide the UK immigration department,” Ramdev told reporters outside the airport after being cleared. “While the Indian government may have played a villain’s role in this whole episode, Britain’s NRI community and Keith Vaz (British-Indian MP) stood by me,” he said. “I thank the UK government that they did not stay misguided for too long,” he said, adding that he had not been given any explanation for being detained. “I have never done anything illegal, immoral or unethical. So I kept asking them to let me know what my fault was. I was not informed about the reasons. But there was no bad behaviour on their part. At one point one of the officials did get angry but I stayed cool so there was no problem,” Ramdev said in reference to his detention. Ramdev is in the UK to chair a series of yoga shivirs and talks organised by the Patanjali Yog Peeth (UK) Trust.