London & Stamford slumps into the red on higher costs November 24, 2011 LONDON & Stamford Property swung to a loss in the six months to September, thanks to a jump in exceptional costs and losses on derivatives. The firm, which owns One Carter Lane and Fleet Place in the City, posted a pre-tax loss of £3.4m, compared with a profit of £23.2m in the same period last [...]
W HOTEL SOLD TO QATARI INVESTOR November 24, 2011 THE W Hotel in Leicester Square has been sold to Qatari investor Al Faisal Holding for just under £200m, the developer said yesterday. McAleer & Rushe, the Northern Irish firm that built the 192-bed hotel and 11 flats, said the sale was completed yesterday, with Jones Lang LaSalle and Steerforth Partners advising.
Property developer Helical Bar swings back into full year profit November 24, 2011 HELICAL Bar swung to a first-half pretax profit, while its underlying net asset value slipped lower, and said it expected to sell more non-core assets in the coming months. The company, led by property veteran Michael Slade, posted a pre-tax profit of £4.1m for the six months, up from a loss of £3.2m. “The group [...]
HTC plummets after it cuts sales outlook November 24, 2011 HTC, the world’s number four smartphone maker, warned it would see no revenue growth this quarter, in a further sign that bigger rivals Apple and Samsung are stealing sales. The Taiwanese company, which is valued at around $16bn (£10bn), had previously forecast fourth-quarter revenue would grow 20-30 per cent from a year ago. The surprise [...]
What a difference a month makes November 24, 2011 WHAT a difference a month makes. At the end of October, HTC said it expected fourth quarter revenues to jump by almost a third; yesterday, the Taiwanese firm shocked markets by saying sales in the last three months of the year would in fact be flat. In cash terms, HTC has chalked down its estimates by [...]
Future shares tank as ailing publisher falls to annual loss November 24, 2011 SHARES in Future, the troubled magazine publisher, plunged by almost a fifth yesterday, after it fell to an annual pre-tax loss of £18m. The firm, which publishes magazines as diverse as Total Film, Cycling Plus and Simply Knitting, scrapped its dividend until at least 2013 after revenues at its ailing US division tumbled by 16 [...]
Mediaset in a takeover bid for Endemol November 24, 2011 MEDIASET, the media empire owned by former Italian leader Silvio Berlusconi, yesterday confirmed it has made a joint bid for TV producer Endemol. The company has made a joint bid with Clessidra, an Italian asset manager. Pier Silvio Berlusconi, the ex-Italian PM’s son and Mediaset chairman, told reporters yesterday that the two firms had put [...]
MPC member says economy may contract November 24, 2011 CONTRACTION may be underway, the Bank of England’s Ben Broadbent warned as the Office for National Statistics revealed more information on the composition of the third quarter GDP figures yesterday. Growth was confirmed at 0.5 per cent in the last three-month period, as production industries increased output by 0.4 per cent and the services sector [...]
CITY VIEWS: IS THE UK A SAFER HAVEN THAN GERMANY? November 24, 2011 ROBERT DANES | RBD BUSINESS SOLUTIONS “It’s no safer than Germany that’s for sure – I think it was just their lucky day yesterday. I think Germany is the power house, but I think it’s a question of whether it bails out everybody else or goes its own way… Whatever happens in Europe is going [...]
Neets up again as young jobs hunt continues November 24, 2011 RECORD numbers of under-24s are not in employment, education or training (Neets), Department for Education figures revealed yesterday. Now 1,163,000 16 to 24 year olds are Neets, up 137,000 in the year, taking the proportion to 19.2 per cent. Over one fifth (21.5 per cent) of 19 to 24 year olds fall into the category, [...]
