Edge sees losses narrow as it cuts costs and ups its output June 25, 2014 CANADIAN gas and oil exploration company Edge Resources yesterday declared that its pre-tax loss had narrowed significantly in its last financial year due to higher output of oil and liquid natural gas, as well as expense cutting. Based in Alberta and Saskatchewan, the company announced that its pre-tax loss had narrowed to $1.8m (£1.1m) for the [...]
Premier Oil has new CEO June 25, 2014 OIL Exploration firm Premier Oil yesterday announced the immediate appointment of Tony Durrant as its new chief executive. Durrant, who joined the FTSE-250 company in 2005 and had been finance director since then, replaces Simon Lockett, who is stepping down after nine years in the post. Premier Oil chairman Mike Welton said that the board [...]
Toyota gears up for 2015 launch of hydrogen car June 25, 2014 Japanese car giant Toyota yesterday lifted the lid on plans to launch a hydrogen fuel-cell car into the Japanese, European and US markets throughout next year. Based on a concept car Toyota displayed at last year’s Tokyo Motor Show – dubbed FCV – the fuel-cell car will hit Japanese forecourts at around ¥7m (£40,500). However, a [...]
Babcock and Balfour Beatty win £160m Sellafield waste contract. June 25, 2014 BABCOCK International and Balfour Beatty said yesterday they had won a £160m contract to build a new silo maintenance facility at the site of Sellafield nuclear power plant as part of the ongoing decommissioning process. The contract will be led by Cavendish Nuclear, a wholly owned subsidiary of Babcock, which will have 55 per cent [...]
Northgate races forward with 22 per cent pre-tax profit jump June 25, 2014 VAN rental company Northgate yesterday announced that it had beat market estimates with a 22 per cent rise in full-year profit as a result of more businesses leasing its vans in Spain and the UK. While revenue from vehicle hires in the UK grew marginally and those in Spain fell slightly, Northgate said the number [...]
Wind blows in record profits at Crown Estate June 25, 2014 CROWN Estate chief executive Alison Nimmo said the company had “hit a sweet spot” last year as the regeneration of its prized West London properties and offshore wind helped deliver record full-year profits. The Crown Estate’s net profit, which goes into the Treasury’s coffers, rose to a record £267.1m in the year to 31 March [...]
Land Securities buys Bluewater shopping mall stake for £656m June 25, 2014 LAND Securities has bought Lend Lease’s 30 per cent stake in Britain’s fourth largest shopping centre Bluewater for £656m after a heated battle for the site. The acquisition is a coup for property giant, which has been selling several of its regional shopping centres in order to make way for acquisitions in the south east [...]
Grainger hires ex-Segro boss as chairman June 25, 2014 BRITAIN’S largest residential landlord Grainger said yesterday it has lined up the former chief executive of Segro Ian Coull to become chairman. Coull, 64, will join the board as a non-executive director on 23 September and will be put forward as chairman at the annual general meeting in February next year. Robin Broadhurst will step [...]
Mansion tax would hit twice as many houses today as in 2009 June 25, 2014 THE NUMBER of houses which would be hit by a mansion tax has doubled in the past five years, alongside the rapid recovery in prices, especially in the capital. Research released by consultancy Knight Frank yesterday indicated that a tax on residential properties which cost more than £2m would hit twice as many homes today [...]
City Moves for 26 June 2014 | Who’s switching jobs June 25, 2014 JLL The professional services and investment firm, specialising in real estate, has appointed Michael Davis to lead a business unit focused on London’s emerging markets. He joins from Cushman and Wakefield, and has particular experience in the TMT, leisure and creative sectors. Sanlam Securities The corporate finance and broking arm of Sanlam Private Investments has [...]