Overseas investment in London property to hit pre-crisis levels January 13, 2014 OVERSEAS investment in London’s property market could top pre-recession levels by the end of this year, boosted by an influx of spending from Asian buyers. According to figures released today by law firm Mayer Brown, Asian investors doubled their investment in the central London market to £5.8bn last year, up from £2.91bn the previous year. [...]
Companies hit out at code for failing to stop late payments January 13, 2014 BUSINESSES are scathing about the government’s Prompt Payment Code scheme, with opinion split between those firms who believe it is ineffective and those who have not heard of it. The voluntary system is designed to combat late payments to firms, and attempts to encourage payments within 30 days for public sector contracts. The period for [...]
Deflation rolls on for nearly a year in Greece January 13, 2014 GREEK prices declined further during December, dropping at a slightly slower rate compared to the same month last year. Consumer price inflation for Greece last month was -1.7 per cent compared to December 2012, continuing the deflationary trend and marking nearly a year of shrinking prices. As recently as 2011, year-on-year inflation in the struggling [...]
Sales soar over festive season at Greene King January 13, 2014 BREWER and pub group Greene King yesterday reported a 3.8 per cent jump in its like-for-like sales during the first 36 weeks of its financial year, boosted by bumper food sales on Christmas Day. The results were helped by the two trading weeks covering Christmas and the New Year, during which Greene King reported sales [...]
Analyst Views: What did you make of Greene King’s trading update yesterday? January 13, 2014 DOUGLAS JACK | NUMIS SECURITIES Trading has strengthened slightly over the latest six weeks (to 5 January), with managed pub like-for-like sales increasing to 3.8 per cent from 3.5 per cent, aided by an improved trading backdrop. Total sales are up 8.2 per cent. We believe the risk to forecasts remains firmly on the upside. [...]
UBM chief to leave for McGraw-Hill in March January 13, 2014 UBM CHIEF executive David Levin will complete his departure from the events and information group on 1 March when he takes over as chief executive of McGraw-Hill Education in New York. Following his departure, UBM chairman Dame Helen Alexander will become executive chairman until a new chief executive is chosen. “We are making very good [...]
WPP takes a stronger hold of its Russian media investment firms January 13, 2014 GLOBAL advertising giant WPP has taken a majority stake in its WVI Group joint venture, comprised of Russian media investment businesses including GroupM, MediaCom and global marketing communications company JWT. WPP will hold an 80 per cent stake in the WVI Group following the deal, with an agreement to purchase the remaining 20 per cent [...]
New report hits out at MoD for staff shortages January 13, 2014 THE MINISTRY of Defence (MoD) has not done enough to prevent significant staff shortages in the Armed Forces and its management information is below the standard it needs to be, the Commons defence committee said today. After assessing the MoD’s annual report and accounts, the committee said that the government must do more to retain [...]
Chevron gets government green light to develop North Sea field January 13, 2014 CHEVRON yesterday said that it will develop the Alder gas field in the North Sea after receiving approval from the UK government. The US oil major said that the project has the capacity to produce 110m cubic feet of natural gas and 14,000 barrels of condensate, a light oil, with first output expected in 2016. [...]
Festive getaway boosts airports and Le Shuttle January 13, 2014 HEATHROW and Gatwick ended their busiest ever years on a high, with rising passenger numbers in December, while the Eurotunnel also enjoyed a bumper Christmas. Heathrow, Europe’s biggest airport by passenger numbers, yesterday said traffic was up 2.8 per cent to 5.8m passengers in December, taking its total growth for the year to 3.4 per [...]
