Mandarin Oriental profit slumps despite Hyde Park hotel reopening August 1, 2019 The Mandarin Oriental hotel group reported a slump in profit today despite the reopening of its Hyde Park hotel, which was closed following a fire last year. The five-star hotel was badly damaged in the fire in June 2018 and was re-opened in April following a £100m renovation. Read more: Check out Mandarin Oriental’s refurbishment after [...]
Intu share price fall continues after dividend cancellation August 1, 2019 Shares in retail landlord Intu continued to fall this morning after the Trafford Centre owner yesterday cancelled its dividend as it fell to a £900m loss. Intu’s share price was down as much as 6.7 per cent at 44.6p this morning before recovering slightly to 45.45p. Read more: Intu share price crashes at it cancels [...]
Taylor Wimpey profits drop due to higher costs July 31, 2019 Shares in house builder Taylor Wimpey fell more than six per cent this morning as the company reported a drop in profits due to higher costs. The figures Profit before tax and exceptional items fell 9.4 per cent in the first half of the year to £299.8m from £331m in 2018. Read more: Taylor Wimpey [...]
Rentokil profit increase boosts shares July 31, 2019 Pest control and property care firm Rentokil’s shares have risen 4.5 per cent this morning after it posted a 12.4 per cent rise in profit in the first half of the year. Read more: Rentokil set to continue acquisition spree The figures The firm’s revenue grew by 8.5 per cent to £1.3bn in the first [...]
Growth falters as UK house prices stuck in ‘Brexit limbo’ July 31, 2019 UK house prices’ rate of growth slipped in July, falling to a “modest” 0.3 per cent annual rise to stay below one per cent for the eighth month in a row, according to Nationwide’s latest data. However, the 0.3 per cent month-on-month growth outstripped June’s 0.1 per cent to leave the average UK home worth [...]
Government urged to act to secure ‘home ownership dream’ July 31, 2019 The government has been urged to act to help first-time buyers as new forecasts revealed that by 2026 just a quarter of people aged between 25 and 34 will own their own home. A report by Santander found that home ownership within that age bracket will have dropped from 55 per cent 20 years ago, [...]
UK house price growth in southern cities hits seven-year low July 30, 2019 House prices in the UK’s southern cities grew at their slowest rate in seven years last month, according to new data released this morning. Average house price growth across southern cities is running at the lowest level recorded since January 2012, Zoopla has found, with values rising by just 0.7 per cent over the 12 [...]
UK mortgage approvals rise but consumer lending slows July 29, 2019 Britain’s housing market received a modest lift in June as mortgage approvals increased by more than analysts had expected, Bank of England figures showed today. Read more: UK mortgage approvals hit two-year high following Brexit extension Annual lending growth to UK consumers slowed from 5.7 per cent in May to 5.5 per cent in June, [...]
Hammerson makes £423m sale but retail troubles take a chunk out of income July 29, 2019 Hammerson this morning announced it has sold a 75 per cent stake in Parisian shopping centre Italie Deux for £423m. The retail property giant said the deal with Axa Investment Managers brought it to more than 90 per cent of its annual £500m disposal target. Hammerson also released its half-year results this morning. It reported [...]
Housing crisis is harming productivity, nearly half of UK businesses warn July 28, 2019 Britain’s housing shortage is having a harmful impact on the country’s productivity, nearly one in two businesses have warned. Some 43 per cent of UK companies with over 1,000 employees said that housing issues are having a negative effect on their business’ productivity, according to new findings released by the Centre for Social Justice. Read [...]