Sprint Nextel boosts Clearwire December 1, 2011 Sprint Nextel, the number three US mobile provider, agreed to pay up to $1.6bn (£1.02bn) to Clearwire in the next four years, including a network pact and a potential equity infusion, easing concerns about a liquidity crisis. Clearwire saw its shares rise 18 per cent after it said that it will be able to make [...]
Property firm St Modwen sees big year December 1, 2011 PROPERTY regeneration company St Modwen expects its full-year results to buck the economic downturn, coming in at the upper end of forecasts. The company, which owns the Elephant and Castle and Edmonton Green shopping centres in London, said in a trading update that sales and buyer interest in its new sites have both been high, [...]
Local Shopping REIT value dips December 1, 2011 THE LOCAL Shopping REIT saw its net asset value decline by 6.2 per cent in the year to 30 September, due to a £3.7m valuation decline in its portfolio. The company, which owns local neighbourhood shops across the UK, however, said its business is performing well as like for like rents grew by 0.7 per [...]
Almacantar’s plan hit for six December 1, 2011 Marylebone Cricket Club (MCC) has bowled over UK developer Almacantar’s plans for a top-end, £400m residential development near Lord’s Cricket Ground in London, and will fund the project itself. MCC said the England and Wales Cricket Board’s decision to award the club a string of major matches for the period 2013-16 had given its committee [...]
Toyota teams up with BMW to go green December 1, 2011 AUTOMOBILE giants BMW and Toyota announced a deal yesterday that will see the companies work together on developing environmental technologies, and said they intend to form a broader partnership in the mid to long term. The car-makers have signed a memorandum of understanding, under which BMW will supply diesel engines to Toyota for the European [...]
SOTHEBY’S WATCH SALE TO RAISE £1.4M December 1, 2011 WATCHES by George Daniels, Rolex, Patek Phillipe and Cartier are among 346 to be auctioned at Sotheby’s on 13 December. One Daniels’ piece is expected to raise over £40,000.
Train firms told to be more open December 1, 2011 TRAIN companies will be punished if they fail to keep passengers informed of delays to their trains, under a new code of practice announced yesterday by the regulator. The Office of Rail Regulation said from February 2012 it wants to amend its code of practice, committing companies to provide jargon-free information about any disruptions to [...]
EU looks at slot rules for airlines December 1, 2011 AIRLINES will need to make greater use of their flight slots in the EU from 2014 or risk losing them under legislation proposed by the EU’s executive, a move it said would help avoid a capacity crunch at Europe’s airports. The plan would also introduce slot trading between airlines across the EU. The EC said [...]
Norsk warns over demand in aluminium December 1, 2011 NORSK Hydro warned that it sees growth in global aluminium demand slowing next year as a result of economic turbulence that is creating a weak market and pushing many industry players into the red. Hydro, one of the world’s top aluminium producers, said it saw demand for primary aluminium outside China rising between three and [...]
London 2012 IMAGE OF THE WEEK December 1, 2011 LONDON 2012 | DESIGNS ON THE FUTURE Coca-Cola, the longest continuous sponsor of the Olympic movement, has today announced its plans to create a pavilion for the Olympic Park. The architectural designers of the pavilion have been revealed as the critically acclaimed, emerging London duo Pernilla Ohrstedt and Asif Khan (above). Ohrstedt and Khan are [...]
