Here’s what the property sector is expecting in this week’s Budget – from stamp duty to landlords to luxury homes March 7, 2017 It’s that time of year again: the days are getting longer, the trees are blossoming, and the one-time-only Spring Budget is rapidly approaching – with homeowners and landlords alike steeling themselves for more punishment from the chancellor. The good news is it looks unlikely there will be much to punish homeowners or lower house prices [...]
Donald Trump has taken credit after Exxon Mobil unveiled plans to spend $20bn in the Gulf Coast March 7, 2017 Exxon Mobil has said it will invest $20bn (£16bn) over a 10-year period to expand its presence in the US Gulf Coast – and Donald Trump has taken credit. Following the announcement, a White House issued statement appeared to copy an entire paragraph from the oil firm's press release. Last night the world's largest listed energy company said it will [...]
Shawbrook has turned down an £825m takeover offer March 7, 2017 Challenger bank Shawbrook revealed today that it had rejected an £825m takeover bid by a private equity consortium. Shawbrook announced that Pollen Street Capital and BC Partners had paired up to offer 330p per share after the bank's board rejected an initial offer of 307p per share, but the board said: "Taking into account the [...]
Ashtead future boosted by infrastructure expansion and hopes of interest rate hikes in the US March 7, 2017 Equipment rental firm Ashtead's share price fell over two per cent today, despite hopes of it being boosted Donald Trump's proposed infrastructure expansion. The figures Underlying rental revenue in the first nine months of the firm's financial year grew by 13 per cent to £2.2bn with earnings similarly growing from £869m to £1.1bn. Operating profit was [...]
Crossrail chairman Sir Terry Morgan takes over from Roy Griffins at London City Airport March 7, 2017 Crossrail's Sir Terry Morgan CBE is joining London City Airport as chairman. Today he takes over from Roy Griffins, who has held the post for over 10 years, as the airport gears up for construction on its £350m development programme, due to be completed by the end of 2021. It will enable the airport to welcome [...]
House price growth has nearly halved over the past 11 months March 7, 2017 House prices grew by just 5.1 per cent year-on-year in the three months to February, the lowest annual rate since July 2013. The figures from Halifax show that quarter-on-quarter house prices edged up 1.7 per cent, with the UK average house price now standing at £219,949. Read more: These are the three London areas where [...]
Just Eat share price jumps as takeaway firm reports 42 per cent increase in orders March 7, 2017 Just Eat has reported a jump in order numbers in 2016, which in turn pushed revenues and profit up. The figures Orders were up 42 per cent to 136.4m, from 96.2m in 2015, and up 36 per cent on a like-for-like basis. Revenues increased 52 per cent to £375.7m from £247.6m, and underlying earnings before [...]
Over 400 flights have been cancelled as French air traffic control strike is set to cause a second day of chaos March 7, 2017 More than 400 flights have been cancelled across Europe due to the French air traffic control strikes that started yesterday, and the worst could be yet to come. In addition to the Brest and Bordeaux control centres which were on strike yesterday, the Marseille sector will now be involved in the action too. The five-day strike lasts [...]
Budgens is closing more than 30 stores March 7, 2017 More than 30 Budgens stores are set to close as Food Retailer Operations Limited (FROL) has gone into administration, putting 815 jobs at risk. FROL operates 34 Budgens stores, having bought them from the Co-op in July last year. Nine outlets were closed over the weekend, and the final 25 will close their doors over the [...]
Supermarket sales grew at their fastest rate since June 2014 in the last 12 weeks March 7, 2017 Supermarket sales were growing at their fastest rate since June 2014 over the past three months as inflation started to bump up prices for key items such as tea, butter and fish. According to data from Kantar Worldpanel, supermarket sales grew by 2.3 per cent year-on-year for the 12 weeks ending 26 February. Kantar said [...]