Construction in London dodged recession’s bite October 8, 2014 CONSTRUCTION in the capital has been invulnerable to the financial crisis and the following recession with growth now predicted to surpass its trend level. The last three months will have seen activity soar above its pre-crisis trend, according to data from Scape, a government owned construction company. The remaining figures are from the Office of [...]
August slowdown dampens sales but Marston’s remains on track October 8, 2014 MARSTON’S pub chain and brewer yesterday said it expected 2014 profit to be broadly in line with expectations, and added it would build at least 25 new managed pub-restaurants in the new financial year. In a full year trading update to 4 October Marston’s full-year underlying sales at its core managed pubs were up 3.1 [...]
Land Securities’ Moorgate Crossrail scheme October 8, 2014 Land Securities unveiled plans yesterday for a 500,000 square feet of office scheme above the new Crossrail station at Moorgate in the City. The developer launched a public exhibition for the scheme at 21 Moorfields and expects to submit plans next month. Land Securities has a three-year option to buy the site which expires at [...]
Put your house on it …price boom ends October 8, 2014 HOUSE price growth slowed in September, an influential report from Halifax showed yesterday, adding to evidence that activity in the UK’s rampant property market was moderating. Prices rose 0.6 per cent last month and 9.6 per cent in the past year. But this still-substantial growth marks a continued slowdown from the annual growth of 10.2 [...]
EasyHotel says it is trading in line with full-year expectations October 8, 2014 Budget hotel chain easyHotel yesterday announced that its trading for the year ended 30 September was in line with management expectations in both its owned and franchised hotels. Part-owned by easyJet founder Sir Stelios Haji-Ioannou, easyHotel said it had achieved a number of milestones, including the opening of its 125-bedroom Glasgow easyHotel, the refurbishment of the [...]
HSS tools up for future deal October 8, 2014 TOOLS company HSS Hire Group is weighing plans to list on the stock market next year after boosting sales by a third this year due a boom in corporate outsourcing. The company’s owner, Exponent Private Equity, is exploring options for the company, such as an initial public offering or a trade sale, after turnover rose [...]
RBS to return to net lending October 8, 2014 SIX YEARS after it collapsed and was bailed out, RBS is at last ready to increase its small business lending, the bank said as it unveiled a new £1bn fund for small- and medium-sized enterprises (SMEs). Net lending to firms fell by £1.1bn in the first half of the year as old and bad debts were [...]
London Mining digs for cash as shares tank 75pc October 8, 2014 WEST AFRICA-focused London Mining shares tanked yesterday by 75 per cent, after it warned investors that their holdings were on the verge of being worthless. In a statement, the company said: “Under the structures currently proposed, the board believes that there will be little or no value remaining in the equity of the company and [...]
Fastjet shares dive after bird strikes in Tanzania hit services October 8, 2014 LOW-COST African airline fastjet yesterday announced that “an unprecedented” four bird strikes in two weeks had forced it to delay or cancel several of its Tanzanian flight services last month. In an operational update to the London Stock Exchange, the airline said it had “encountered an unprecedented total of four bird strikes in two weeks, [...]
City Moves for 9 October 2014 | Who’s switching jobs October 8, 2014 Fidelity Worldwide Investment Peter Horrell has been appointed managing director of the investment firm’s UK business. He has spent the past 24 years at Barclays, where he was most recently chief executive of wealth and investment management. Sovereign Land The retail and leisure developer and asset management firm has appointed Luke Winstanley as senior analyst. [...]