Heijmans offloads Brit unit Leadbitter December 24, 2010 Dutch builder Heijmans has sold its British unit Leadbitter for 45m euros to cut debt and as it focuses on its domestic market following debt problems. Heijmans said on Friday it was selling to a joint venture formed by the unit’s management and French company Bouygues in a deal that will cut net debt by [...]
Capita in £128m double takeover December 23, 2010 Capita has bought two firms which specialise in public sector work for £128.5m. The outsourcing contractor, which is hoping to benefit from a deal bonanza as local councils farm out work to save money, spent £86m on SunGard Public Sector, which supplies IT, radio networking services and communication systems to the NHS, police forces and [...]
John Lewis sales up in Christmas run-in December 23, 2010 John Lewis sales were up 4.3 per cent from Sunday to Wednesday compared with the same period last year – with jewellery and watches helping to fuel the rise. The retailer has been giving regular trading updates which have been used as barometer for the performance of the sector. In beauty products Molton Brown’s “A [...]
Mortgage approvals slump to 20-month low December 23, 2010 The number of mortgages approved bymajor UK banks fell to a 20-month low in November, figures have shown. Only 29,991 of these home loans were approved during the month, the British Bankers’ Association (BBA) said. Meanwhile consumers’ debt repayments on credit cards and overdrafts continued to outstrip new borrowing. The BBA figures show that net [...]
World stocks hit two-year high December 23, 2010 World stocks hit their highest level since September 2008 while oil held near a two-year peak as favourable US data reinforced expectations economic growth will retain momentum into next year. Wednesday’s upwardly revised data showing the US economy expanded at 2.6 per cent in the third quarter, coupled with recent retail sales figures, pointed to [...]
National Express given extension on c2c franchise December 23, 2010 National Express has been awarded an extension on its franchise to run the c2c commuter line, which runs between London and Essex, for a further two years until 26 May, 2013. The c2c contract had been set to expire next year. Chief executive Dean Finch said the extension reflected National Express’s success in making c2c [...]
Morgan Stanley replaces JPMorgan as top underwriter December 23, 2010 MORGAN Stanley was the top underwriter this year, handling a total of $80.8bn (£52.5bn) from 322 deals and replacing JPMorgan in the number one spot. According to Thomson Reuters data JPMorgan slipped to third with 346 deals worth $62bn. Goldman Sachs stood second with $65.7bn from 237 deals, while Bank of America Merrill Lynch was [...]
Riversdale board recommends $3.9bn Rio Tinto bid December 23, 2010 Anglo-Australian miner Rio Tinto had $3.9bn (£2.5bn) to buy African-focussed rival Riversdale in agreed but investors are betting on a possible bidding war from rival suitors. Rio’s first big acquisition since its ill-timed Alcan buy in 2007 also needs the backing of at least one of Riversdale’s three large shareholders. Fund managers said they expected [...]
US GDP rise healthier than expected December 22, 2010 US economic growth was slightly stronger than previously estimated in the third quarter, but consumer spending was weaker and more of the goods produced ended up on warehouse shelves, official figures showed. Gross domestic product growth was revised up to an annualized rate of 2.6 per cent from 2.5 per cent, reflecting a higher than [...]
Northern Foods receives new approach December 22, 2010 Food manufacturer Northern Foods said it received an approach from food tycoon Ranjit Boparan, boosting its shares, although it reiterated support for a planned merger with Ireland’s Greencore. Responding to a media report, Northern Foods, the biggest maker of Christmas puddings, said that Boparan Holdings approached it on December 17 requesting information. However, it has [...]
