Walkie Talkie tower seals fourth letting January 23, 2013 LAND Securities has bagged itself another tenant for its Walkie Talkie skyscraper in the City, the property giant revealed yesterday in an upbeat trading upbeat. Royal Sun Alliance is to take four floors at 20 Fenchurch Street, meaning thirty-four per cent of the building is now pre-let and a further 18 per cent is under [...]
Cheesegrater costs spell end for steel chief January 23, 2013 THE chief executive of steelwork manufacturer Severfield-Rowen resigned yesterday as it reported huge cost overruns on the Cheesegrater project, sending its shares tumbling. Cost overruns on the 122 Leadenhall project – known as the Cheesegrater due to its distinctive shape – adversely affected UK performance, the firm whose other work includes the Olympic stadium and [...]
Capco’s Earls Court scheme moves closer January 23, 2013 PROPERTY developer Capital & Counties (Capco) moved a step closer to realising its £8bn Earls Court scheme after signing a conditional land sale agreement (CLSA) yesterday with Hammersmith & Fulham council. The agreement gives Capco the go-ahead to use land – including the West Kensington and Gibbs Green estates – in the wider redevelopment of [...]
Ian Marchant resigns after a decade at SSE January 23, 2013 THE CHIEF executive of utility firm SSE resigned yesterday after a decade at the helm. Outgoing chief executive Ian Marchant, who will step down at the start of July, said yesterday that the “time is right for a change for both SSE and me”. He gave no detail as to what his future plans are, [...]
Healthcare Locums on the hunt for funds to meet covenants January 23, 2013 HEALTHCARE Locums, the troubled staffing provider for the health and social care sectors, yesterday warned that poor trading conditions meant it might not meet its banking covenants in March and June. The group, led by chief executive Stephen Burke, has approached its two largest shareholders, Tosca Fund and Ares Capital, which between them own around 72 [...]
EnQuest buys 8pc stake in Alba January 23, 2013 North-Sea focused EnQuest has snagged an eight per cent holding in the Alba oil field for £19.25m. EnQuest will acquire two of CIECO Energy’s companies, which together hold a total of eight per cent in the field. The oil producer will pay £18.75m in cash, plus a further £0.5m for the completion of certain project [...]
Iron ore output jumps at BHP January 23, 2013 Australian miner BHP Billiton posted a three per cent annual uptick in iron ore production in the last three months of the year, as it kept pace with Chinese demand. The FTSE 100 mining giant produced 42m tonnes of iron ore in the fourth quarter, from 41.1m over the same period in 2011. BHP reiterated its [...]
Output falls at Hochschild Mining January 23, 2013 Gold and silver output edged down during 2012 for South America-focused silver miner Hochschild Mining, although it said it hit all of its targets. Attributable silver production fell to 20.3m ounces over the year from 22.6m ounces for 2011. Gold output sank to 337,660 ounces over last year, from 377,000 ounces the previous year. Hochschild [...]
Close Brothers weighed down by slow market January 23, 2013 FINANCIAL services group Close Brothers yesterday delivered a good set of results for its lending and money management divisions but its market making side continued to disappoint. The 134 year old independent bank, listed on the FTSE 250, grew its loan book by boosting lending to small businesses. It increased its assets under management three [...]
Activist investors spend $12bn and push for change on boards January 23, 2013 THE WORLD’S biggest activist investors spent a third more building up disclosable shareholders last year, and used their influence mostly to gain boardoom seats, according to industry research. In a year that saw FTSE firms Xstrata, Intercontinenal Hotels and Alliance Trust attract activist interest, the biggest spent $12bn (£7.6bn) on disclosable stakes in 2012, from [...]
