Bellway sees resilient UK market ahead February 7, 2012 BELLWAY said the UK housing market remained “resilient” ahead of the key spring selling season, but warned that the growth rates were set to slow. The housebuilder sold 2,455 homes in the first half of the year – up five per cent on the same period in 2010 – while the average selling price climbed [...]
House sellers knock £20,000 off prices to drum up interest February 7, 2012 OVER a third of properties for sale in the UK have been reduced in price at least once since coming onto the market, research from Zoopla showed yesterday, as owners struggle to sell. The average discount now stands at £19,580, or 7.5 per cent of the asking price, and more than £1,000 higher than the [...]
ONE HYDE PARK LOOKS FOR RETAIL BUYERS February 7, 2012 The developer of One Hyde Park, the luxury residential and retail complex in London’s Knightsbridge is looking to sell one of its stores on the ground floor for at least £21m. Project Grande, a joint venture between CPC Group and the Qatar Prime Minster, has appointed Savills to sell the space rented by the Abu [...]
ArcelorMittal thinks output will pick up February 7, 2012 ARCELORMITTAL, the world’s largest steelmaker, yesterday forecast an improvement in the first half of 2012 from a weak end to last year, with a clear pick up in North America but still concerns about Europe. The company, which makes around seven per cent of global steel, said yesterday steel shipments would return to the level [...]
Toyota raises full year outlook February 7, 2012 TOYOTA Motor raised its full-year profit forecast by more than a third yesterday as it cuts costs, trims spending and expects Japanese government schemes to boost sales, though the guidance was still some way below analysts’ expectations. Japan’s number one carmaker now expects operating profit – earnings from its core operations – for the year [...]
Coca-Cola’s cost savings add an extra fizz to strong results February 7, 2012 COCA-COLA reported better-than-expected quarterly results yesterday and announced a new cost-savings program yesterday that it will use to boost its brands and mitigate higher commodity costs. Coke’s results were “solid” given the weak global economy, said Consumer Edge Research analyst Bill Pecoriello. Coke’s new productivity programme is targeting annual savings of $350m (£220.3m) to $400m [...]
Anglo chief confident in Chile fight February 7, 2012 ANGLO American’s shareholders are “very supportive” of the company in its legal battle against copper producing giant Codelco in Chile, chief executive Cynthia Carroll said yesterday. “We are very confident about our legal position. We have acted within our rights and we are in no doubt about that,” Carroll said at a mining industry gathering. [...]
SWATCH CATCHES LUXURY MARKET BOOM February 7, 2012 STRONG demand for expensive watches in China helped Swatch Group clock up an 18 per cent rise in 2011 profits and build some sales momentum for the current year. Net profit at the Swiss-based group, known better for its colourful plastic watches than for ownership of high-end brands such as Omega and Breguet, rose 18.1 [...]
What do you think of the government’s plans to reform the UK’s National Health System? February 7, 2012 AS health secretary Andrew Lansley’s controversial plans to reform the NHS return to the House of Lords, we’re asking our Voice of the City panellist what they make of the government’s proposals to overhaul Britain’s health services. The bill has received widespread opposition from doctors, nurses and other health workers, but Lansley insists he has [...]
Lagardere in €900m writedown February 7, 2012 France’s Lagardere said it will take a writedown of €900m on the value of its problem-plagued sports business and its stake in pay-TV unit Canal+ as it reported stagnant revenue for 2011. The media-to-aerospace conglomerate reported full-year revenue of €7.66bn in line with analysts estimates yesterday and confirmed its forecast of core media operating profit [...]
