Bahrain race controversy has failed to hurt Formula One’s sponsors April 24, 2012 LAST week’s Bahrain Grand Prix has been the source of much controversy, but has the negative coverage impacted the event’s associated sponsors? Prior to last Sunday’s race, a YouGov poll found that just 29 per cent of Britons thought the Grand Prix should go ahead, compared to 42 per cent would have cancelled it (another [...]
Redrow to raise £80m to help fund expansion April 24, 2012 SHARES in housebuilder Redrow rose by almost eight per cent yesterday after it said it would raise about £80m to increase investment in London and outside the capital, in a move that could raise the stake of its executive chairman to above 40 per cent. The company, one of the smaller London-listed housebuilders, said it [...]
Benetton signs up for shares in Brunello Cucinelli’s Italian IPO April 24, 2012 ITALIAN clothing group Benetton said yesterday it had bought two per cent of cashmere specialist Brunello Cucinelli, which is in the process of listing its shares in Milan. Cucinelli has priced its initial public offering at €7.75 per share, the top of the planned range. The offer was covered around 17 times at the highest [...]
Capita placing to pay for new acquisitions April 24, 2012 CAPITA yesterday fired the starting gun on a new round of acquisitions funded by the placing of 40m shares while it reported a sales jump of 17 per cent. The outsourcer said it placed around 40m new shares – equivalent to 6.5 per cent of its existing issued share capital and valued at about £274m. [...]
London house market leading price recovery April 24, 2012 LONDON’S housing market has the strongest prospects in the country, according to a new survey, and official figures yesterday showed sales across the UK may be rising gradually. Almost 40 per cent of Britons think house prices will rise over the next year, compared with just 20 per cent who expect a drop, leaving the [...]
HALDANE WARNS OVER FINANCIAL ARMS RACE April 24, 2012 COMPETITION between banks leads to a “financial arms race” where behaviour that might be best for individual firms – such as seeking the highest return on equity – damages the overall stability of the financial system, the Bank of England’s Andrew Haldane warned yesterday, arguing for macroprudential policies which could defuse such races.
Capital’s firms more optimistic April 24, 2012 ■ Business confidence in London has risen to its highest level since the recession, according to the London Chamber of Commerce and Industry’s (LCCI) latest quarterly economic survey. Almost half of firms expect their prospects to improve over the next 12 months, pushing the index up to a net 23 per cent, a 43 per [...]
US housing slump set for long run April 24, 2012 ■ US house prices rose slightly in February, new data showed yesterday, but may not really recover for decades, a top economist warned. The Case Shiller index showed a 0.2 per cent gain in February – its first increase in 10 months. However the index’s co-creator, professor Robert Shiller, warned a weak labour market and [...]
Local backlash over benefits April 24, 2012 THE CAP on housing benefits is driving Newham council to ask other areas – including Stoke, 160 miles away – to take its low-income renters off its hands. With 32,000 people on its waiting list, the council claims the £300 per week cap on housing allowance is too low for it to house everyone. “Newham [...]
Families chop income safety April 24, 2012 FALLING numbers of families are protecting their financial security with life insurance, critical illness or income protection, Scottish Widows warned today. Only 38 per cent of people have life insurance, down six percentage points on the year, while only five per cent have income protection cover, down from seven per cent a year ago, and [...]
