Queens Park Rangers’ £6bn west London revamp to create homes, jobs and a new stadium September 3, 2014 A vast area of west London looks set to undergo a massive regeneration programme that could see 24,000 homes being built and 55,000 new jobs created. Hundreds of acres of brownfield around Old Oak Common, near the site of Wormwood Scrubs prison, could be transformed as a result. The £6.2bn plan is being spearheaded by [...]
Vote No to Scottish independence urges Lloyd’s of London boss John Nelson September 3, 2014 The chairman of Lloyd’s of London last night urged Scots to vote No in the independence referendum which is just two weeks away, warning a Yes vote would be a blow to the City. At the insurance market’s annual dinner, John Nelson threw his weight behind a united UK, telling guests he would be “extremely [...]
Standard Life signs £2.2bn deal to sell Canadian arm September 3, 2014 Edinburgh-based insurer Standard Life last night announced it has clinched a C$4bn (£2.2bn) deal to sell its Canadian operations to Toronto-based insurer Manulife Financial. The sale will see Standard Life shareholders receive a £1.75bn windfall, or 73p per share, as part of the deal that also sees the two firms agree a collaboration agreement that [...]
David Rudlin’s garden city plan to double size of UK towns wins Wolfson’s £250,000 prize September 3, 2014 The Wolfson economic prize and the £250,000 that comes with it were awarded to urban planner David Rudlin last night, for his design of a new garden city. The prize was offered to the best design of a new city, set up by Lord Simon Wolfson and organised by think tank Policy Exchange. Rudlin, who [...]
Perform Group’s board rejects £700m Len Blavatnik offer September 3, 2014 Directors at London-listed internet sports distribution firm Perform Group yesterday rejected the £701.6m takeover bid by Ukrainian-born billionaire Len Blavatnik’s investment group Access Industries. Perform – which floated in 2011 and supplies video clips, live action and sports news and data to media groups and online bookmakers – saw its shares soar 26.35 per cent [...]
Balfour sheds US design arm September 3, 2014 CANADA’S WSP Global is set to buy Balfour Beatty’s US design division Parsons Brinckerhoff for £820m, the business arm that had been a stumbling block for Balfour’s failed £3bn merger with rival Carillion. The deal will allow WSP to expand in the UK and give it a stronger presence in growth regions. Balfour said it [...]
US economic growth steady September 3, 2014 THE US recovery is on a relatively strong footing, the Federal Reserve said last night, as its car industry shows strong growth and banking conditions improve. In its Beige Book report of anecdotal information on business activity collected from contacts across the US, the Fed said six of its 12 districts reported “moderate” economic growth. [...]
Services surge ahead yet UK’s industry slows September 3, 2014 BRITISH services are reporting the fastest growth this year so far, even as the country’s manufacturers report a slowdown, suggesting that the recent expansion may be unbalancing. The August survey of the services sector conducted by the Chartered Institute of Purchasing & Supply (CIPS) and Markit came in at 60.5 – the strongest since November [...]
FTSE 100 touches a 14-year high after Ukraine cease fire rumours September 3, 2014 THE FTSE 100 opened at a 14 year high yesterday morning, driven upwards by strong UK services data and rumours of a ceasefire between Ukraine and Russia. The index climbed to over 6,897 yesterday morning, the highest level since 2000, before settling at 6,873.58 later in the day, having risen by 0.65 per cent on the [...]
Carl Icahn sells stake in discounter Family Dollar and earns $200m September 3, 2014 Activist investor Carl Icahn yesterday sold his stake in deep discounter Family Dollar, earning $200m (£121m) in the process, Reuters reported, citing sources familiar with the issue. The sale comes after Icahn pushed Family Dollar’s management into putting it up for sale, igniting a bidding war. In July, rival Dollar Tree offered to pay $8.5bn [...]