Quintain sells GreEnwich property for £97m August 9, 2010 QUINTAIN Estates and Development has sold Pier Walk in its Greenwich Peninsula development near Canary Wharf to a unit of Germany’s largest fund manager DekaBank. Deka Immobilien GmbH paid £97.1m in cash for the property, representing a six per cent uplift on the last independent valuation on 31 March and an investment yield of 5.9 [...]
Dragon Oil profit up 31 per cent August 9, 2010 OIL and gas company Dragon posted a 31 per cent rise in profits in the first half of the year – lifted by a higher oil price and oil production which jumped eight per cent. The company, which focuses on Turkmenistan, posted profit of $137.6m (£86.2m) for the first six months of the year, compared [...]
BP oil spill bill hits £3.8bn as leak plugged August 9, 2010 BP has so far paid out a total of $6.1bn (£3.8bn) in the Gulf of Mexico crisis, the company has said. The bill includes the cost of stopping the flow of oil into the ocean and earlier containment measures. Payouts to the Gulf states hit by the spill are also on the bill. Meanwhile a [...]
AstraZeneca pays out $198m over drug claims August 9, 2010 AstraZeneca has agreed to pay $198m to settle 17,500 US personal injury claims related to its schizophrenia and bipolar disorder drug Seroquel. A further 2,900 additional cases have been dismissed. The Anglo-Swedish drugmaker said the payouts would not affect its recently raised forecast for 2010 “core” earnings per share of $6.35 to $6.65, since any [...]
Property developers hit by new downturn August 9, 2010 THE outlook for UK commercial development activity over the next three months turned negative for the first time since July 2009, hit by a lack of funding and concern over public sector demand, a report said. Developers surveyed last month feel most pessimistic about new building activity for offices, followed by retail and leisure properties, [...]
US employment falls August 6, 2010 The US Labour Department has reported that the economy has cut jobs for a second month in a row. Overall employment fell by 131,000 in July. Meanwhile private sector employment rose by less than expected with 71,000 jobs created. The unemployment rate remained at 9.5 per cent, lower than the market’s expectations of 9.6 per [...]
Spanish economy grows by 0.2 per cent August 6, 2010 The Bank of Spain has announced that the Spanish economy has grown for a second successive quarter. Growth has accelerated with a 0.2 per cent rise in GDP from the first quarter of 2009 when it rose by 0.1 per cent. The provisional figures will be confirmed by the Spanish government later in the week. [...]
Inmarsat reports £94.3m profit and places new order August 6, 2010 The British satellite telecoms company Inmarsat placed an order for three new Ka-band satellites from Boeing, after announcing higher than expected pre-tax profit of £93.4m for the first half of the year, up 56 per cent on the same period last year. The company, which is the world’s largest provider of satellite services to the [...]
Apple to open its biggest store in Covent Garden August 6, 2010 APPLE is to open its biggest ever store in Covent Garden on Saturday (August 7). The three storey historic building will have separate rooms for all Apple products and more stock than any other shop. Staff will be equipped with iPod Touches to scan purchases without a till, for the first time. There will also [...]
UK industrial output dips August 6, 2010 UK industrial output fell by 0.5 per cent in June compared the previous month, according to official figures. The Office for National Statistics said industrial output fell 0.5 per cent in June, confounding forecasts for a 0.2 percent rise, after oil and gas output fell 6.0 percent on the month, its biggest fall in just [...]
