Cheesegrater skyscraper to get go ahead October 25, 2010 British Land is teaming up with Canada’s Oxford Properties to develop the Leadenhall Building in the City financial district, the second crisis-hit skyscraper project to be revived within a week. Britain’s second-largest property company yesterday said it had agreed terms to build the 47-storey scheme in a 50:50 joint venture with the real estate arm [...]
London office rents suffer as demand wanes October 25, 2010 OFFICE rents in London and other European capitals rose at a slower rate and demand fell in the last three months, prompting experts to warn that public spending cuts could stunt a recovery in deals. Demand for office space in London, Moscow and Stockholm drove a modest 0.7 per cent rise in prime rents between [...]
Digital sales boost Pearson October 25, 2010 Strong digital sales at publishing group Pearson helped boost its third quarter performance, pushing up its full-year forecasts. The group now expects full-year earnings to be 10 per cent ahead of 2009 figures, with profits in the last three months up eight per cent year-on-year. Sales at Penguin were up five per cent, education business [...]
BT doubles its apprentice scheme as demand surges October 25, 2010 COMPETITION to become Alan Sugar’s apprentice may be fierce, but it is nothing compared to the fight to become a BT apprentice. While contestants on the BBC show must fight off just 15 other candidates, graduates hoping to work at the former state telecoms provider have 24,000 to worry about. The demand for places is [...]
ANALYST VIEWS: WHAT DO THESE RESULTS MEAN FOR PEARSON? October 25, 2010 JONATHAN JACKSON | KILLIK & CO The group is well placed to benefit from the structural changes in its markets towards digital delivery, personalisation, subscription services and mobile devices. We remain positive on the shares. SAM HART | CHARLES STANLEY RESEARCH We expect the group to deliver solid earnings growth whatever the shape of global [...]
G20 agreement on currencies propels FTSE 100 up despite fall in bank stocks October 25, 2010 BRITAIN’S top shares ended higher yesterday, supported by strength in miners as metals and crude prices rose amid a weaker dollar after G20 finance ministers agreed to avoid competitive currency devaluations. At the close, the FTSE 100 was up 10.61 points, or 0.2 per cent, at 5,751.98, just below last Thursday’s six-month closing high. It [...]
Rose: Shoppers can cope October 25, 2010 Stuart Rose, chairman of bellwether British retailer Marks & Spencer, said consumers can cope with government spending cuts and retail sales will grow next year, even though trading will be tough. “I believe that consumers want clarity and what the chancellor did last week was give consumers absolute clarity about what to expect,” Rose said [...]
Italy’s Banco Popolare in rights issue October 25, 2010 Banco Popolare has joined European banks tapping investors to help meet new global rules with plans for a hefty capital hike, triggering fears bigger Italian peer Banca Monte dei Paschi di Siena will join them. Shares in Verona-based Banco Popolare, Italy’s seventh largest bank by market value, plunged 5.6 per cent yesterday to €4.06 after [...]
Impax sees strong rise in assets October 25, 2010 IMPAX Asset Management reported strong trading volumes yesterday, saying it expected full year revenue to be well ahead of last year on the back of an increase of 45 per cent in assets under management (AUM). It said AUM increased to £1.8bn this year compared with £1.2bn a year earlier. The Aim-listed investment manager added [...]
SGX and ASX announce plan for merger October 25, 2010 THE Singapore stock exchange (AGX) announced an $8.3bn (£5.2bn) takeover bid for the Australian stock exchange (ASX) yesterday, in an effort to boost its position in the region and compete with Hong Kong. The new exchange would be the second largest in the Asia Pacific region by number of companies listed, at 2,700 firms from [...]