Lendlease gets okay for Heygate revamp February 6, 2013 AUSTRALIAN developer Lendlease was yesterday granted detailed planning permission by Southwark council for the first phase of its £1.5bn regeneration of the Heygate estate in Elephant & Castle after winning approval for the masterplan last month. The scheme has caused an outcry from critics after it emerged on Tuesday that Heygate was sold to Lendlease [...]
The Stig guest of honour at military dinner February 6, 2013 TO the Royal Automobile Club’s country campus on Monday evening, for the launch dinner announcing the 2013 Square Mile Salute banquet. The Capitalist can reveal that the third annual Square Mile Salute feast will be held at the Guildhall on 18 October, with food prepared by chef Albert Roux, co-founder of the Le Gavroche, and [...]
Volvo stalls as demand slump reduces output February 6, 2013 TRUCK maker Volvo yesterday warned of a rough start to 2013 after weak demand in its main markets left its factories running at half speed and pushed it into a much heavier than expected earnings fall in the fourth quarter. Sweden’s Volvo, which only weeks ago laid claim to having dethroned German Daimler as the [...]
Aer Lingus insists it can fend off Ryanair bid as its earnings soar February 6, 2013 IRISH flag carrier Aer Lingus yesterday insisted it could survive as an independent company and said the hostile takeover bid from rival Ryanair was unlikely to make it past European competition authorities. “It seems to me so farfetched, this proposition, that we don’t bother wasting our time on it,” Aer Lingus chief executive Christoph Mueller [...]
Fastjet flies into dispute over brand licencing in Tanzania February 6, 2013 FASTJET, the African budget airline backed by EasyJet founder Stelios Haji-Ioannou, has flown into turbulence over its use of the Fly540 name. Five Forty Aviation, which owns the brand, yesterday withdrew Fastjet’s licences to use the name in Angola, Ghana and Tanzania, claiming Fastjet owes $7.7m (£4.9m) in charges. Five Forty Aviation also said that [...]
Grainger posts rise in group sales February 6, 2013 Grainger said institutional investor interest in the residential market was growing thanks to government measures such as the launch of the £200m Build to Rent fund, as it posted group sales of £64.6m for the first four months of the year, up £2.2m on last year. The listed residential landlord said fee income rose to [...]
Quintain schemes make progress February 6, 2013 Quintain Estates said yesterday it was making good progress with its London schemes and in selling-off non-core assets, although markets outside London remain challenging. In an interim statement the developer said its near-term focus was achieving planning permission for its giant Greenwich Peninsula scheme and the opening of the London Designer Outlet at its Wembley [...]
Capita gets Carphone work February 6, 2013 Carphone Warehouse yesterday signed a £160m deal to outsource its customer services to Capita for the next ten years. Capita will be responsible for non-store customer contact such as helplines and tech support. Capita boss Paul Pindar said yesterday: “Capita’s significant experience in this area is evident through the work it does with the public [...]
UK house prices propped up by lending scheme February 6, 2013 THE HOUSING market has sprung back to life in recent months, Halifax said yesterday, while citing the UK government’s lending initiative. Prices dipped 0.2 per cent in January when compared to December, the company said. Yet a three-monthly measure of house prices – used to iron out month by month fluctuations – rose at its [...]
City A.M. shadow MPC votes 7-2 against more QE February 6, 2013 ALLISTER HEATH | CITY A.M. “No change. There is no longer any lack of money supply, and the services sector purchasing managers’ index business survey suggests we may just about escape a triple-dip, if we are lucky. The real problem in the UK is that ultra-loose monetary policy is keeping zombie firms alive, slowing the [...]
