Offshore wind projects get £4m March 18, 2014 The government yesterday said it has awarded over £4m to four offshore wind projects, which will use the funding to streamline the design and installation of offshore wind turbines, to reduce costs. It claims the 2-B Energy project in Fife, which received £2.8m, could bring down the cost of offshore wind by as much as [...]
Surging exports send UK to top spot in Europe March 18, 2014 THE UK recorded the strongest export growth in the European Union last year, and outstripped every other large economy by a wide margin, according to official figures released yesterday. UK exports surged 11 per cent to €407.9bn (£341.97bn) over the year, while imports dropped eight per cent. In comparison, Germany’s exports stayed flat and France’s [...]
Piraeus becomes first bank in Greece to issue debt since 2009 March 18, 2014 A GREEK bank is returning to the debt markets for the first time since 2009, as Piraeus begins to take orders on a bond issue with the backing of several major international banks. Piraeus has appointed HSBC, Goldman Sachs, BNP Paribas, Credit Suisse and Deutsche Bank as the lead managers of the issue, which is [...]
New car sales ramp up across European Union in February March 18, 2014 EUROPEAN car sales rose for the sixth month in a row in February, showing signs of recovery after a prolonged slump in the market that has persisted since the start of the recession. Motorists registered eight per cent more cars than they did a year ago, taking 861,058 cars out of European Union showrooms. However, [...]
Greece clinches new deal on bailout aid March 18, 2014 GREECE and its international lenders struck a deal to unlock the next tranche of loans under its rescue package yesterday, ending six months of negotiations. The deal paves the way for Greece to repay nearly €10bn of bonds due in May. The agreement is also a much-needed shot in the arm for Prime Minister Antonis [...]
Berkeley says new homes to pass 2007 peak March 18, 2014 SHARES in Berkeley Group jumped 2.3 per cent higher yesterday after the housebuilding giant said that it is on track to complete 30 per cent more homes this year than at the peak of the market in 2007. The group credited the government’s Help to Buy mortgage scheme for boosting demand. The scheme provides taxpayer-funded [...]
Ladbrokes chief takes home £4.7m after challenging year March 18, 2014 LADBROKES chief executive Richard Glynn received a total remuneration package of £4.7m last year, an 85 per cent increase on what he took in 2012, despite the bookmaker’s operating profit falling 33 per cent. Finance chief Ian Bull also saw his package from Ladbrokes rise from £735,000 in 2012 to over £2.1m last year. Ladbrokes [...]
Spirit Pub shares rise as Britain’s warmer winter buoys drink sales March 18, 2014 THE UK’s warm winter weather helped the Spirit Pub Company, operator of pubs such as John Barras, Fayre & Square and Flaming Grill, report a boost in food and drink sales yesterday. Like-for-like food sales across the group jumped 6.7 per cent in the eight weeks to 1 March, while total sales rose 6.1 per [...]
Wolf raises £99m to fund UK mine March 18, 2014 Wolf Minerals, the London and Australia-listed specialty metals company, yesterday said that it has raised $182.7m (£99.2m) to complete the construction of the Hemerdon Tungsten-Tin Project in Devon, which will be the first metals mine to open in the UK for over 40 years. Berwin Leighton Paisner acted on behalf of Numis Securities, Investec and [...]
Xaar boss departure sparks fears March 18, 2014 Xaar chief executive Ian Dinwoodie yesterday announced he would retire from the printing technology group in 2015. The news of Dinwoodie’s departure came alongside 2013 pre-tax profits of £40.1m, up 123 per cent from 2012. Dinwoodie’s departure announcement sparked a 9.3 per cent drop in Xaar’s share price to 905p. “My decision is entirely a [...]