Heathrow hits out at regulator as profits soar October 21, 2013 HEATHROW warned yesterday that its investors are not prepared to put in “a penny more” to improve the airport unless the regulator allows them to generate a better rate of return. The airport, which yesterday posted a 22 per cent rise in profits, is furious at the Civil Aviation Authority’s move to cap any rises [...]
Balfour Beatty to electrify more track on the new Crossrail route October 21, 2013 BALFOUR Beatty has won a £64m contract to electrify a western stretch of the Crossrail route, the firm announced yesterday. Balfour Beatty will work on electrifying 12.5 miles of the Great Western Main Line between Stockley Junction and Maidenhead, starting in December and due to be finished in late 2016. As well as preparing this [...]
Shortage of cash pushes haulier Charles Gee into administration October 21, 2013 TRANSPORT and logistics group Charles Gee fell into administration yesterday after tough trading hit the firm’s cash flow. The 125-year-old group started as a shipping charter firm in Gracechurch Street in the City of London, but has since diversified into air freight, road haulage and logistics. Recent “acute cash flow pressures” have forced management to [...]
Forty infrastructure projects sign up for government financial aid October 21, 2013 THE GOVERNMENT is one step closer to guaranteeing the riskiest stages of forty planned infrastructure projects, Treasury minister Danny Alexander has said today. The scheme will offer guarantees worth up to £40bn in an effort to reduce the risk for investors. Forty have passed the first hurdle, proving they are eligible for the guarantees, and now face [...]
SB.TV channel valued at £8m October 21, 2013 Jamal Edwards, the 23-year old founder of popular SB.TV YouTube channel, has brought on board his first private equity backer in an investment that values the business at £8m. The investment, from Miroma Ventures through founder Marc Boyan, will be used to accelerate SB.TV’s push into youth lifestyle broadcasting, ecommerce, events and merchandising. Miroma has [...]
Grafton makes €20m Belgian buy October 21, 2013 Grafton said yesterday it has agreed to buy Belgian merchanting business for €20.5m (£17.4m) as it looks to expand its foothold in Europe. The building supplies group, which changed its primary listing from Dublin to London last week, has made around five acquisitions in Belgium over the last 18 months and runs the business there [...]
Lend Lease submits Heygate plan October 21, 2013 Lend Lease submitted detailed plans yesterday to Southwark Council for the first 360 homes of its £1.5bn regeneration of Elephant & Castle. The application is for the first phase of development on the Heygate Estate, where Lend Lease plans to build 2,500 new homes over the next 15 years. The buildings will range from three [...]
Postal service goes to the dogs October 21, 2013 THE POST-IPO spike in Royal Mail’s share price may have the newly-floated company feeling bullish, yet it must now beware an unexpected pack of four-legged competitors approaching its turf. With forecasters expecting a chilling winter, one courier firm has been trialling the use of trained huskies to deliver packages throughout the City. The zealous hounds were [...]
Any other business – 22/10 October 21, 2013 He has long had the nickname “Goldenballs”, and has certainly pulled together a pound or two with his legendary footballing (and marketing) prowess. Now David Robert Joseph Beckham OBE is being granted yet another shot at money-making. Beckham, who is listed as “professional footballer, retired”, is to be made a “freeman” for his contribution to [...]
Eurozone public debt reaches 90 per cent of GDP October 21, 2013 OFFICIAL figures released yesterday show that the Eurozone’s public debt pushed past 90 per cent of GDP in 2012, despite falling government deficits. Between 2009 and 2012, government debt as a percentage of the currency union’s GDP has swelled from 80 to 90.6 per cent, while government deficits have dropped from 6.4 to 3.7 per [...]
