Costco plans $3bn special payout ahead of fiscal cliff tax increases November 28, 2012 RETAILER Costco Wholesale yesterday said it will pay a special dividend worth some $3bn (£1.9bn) to investors, sending cash to its shareholders ahead of a likely increase in the dividend tax. The retailer also posted monthly same-store sales that beat analysts’ expectations. Several companies have declared one-time cash dividends in recent days ahead of a [...]
General Motors pushes further East with $1bn factory expansion November 28, 2012 GENERAL MOTORS and its Chinese joint-venture partners yesterday announced plans to build a $1bn (£620m) auto assembly plant in the city of Chongqing in a bid to remain the leader in the world’s largest auto market. GM, SAIC Motor and Wuling Motors said they will begin construction of the plant early next year, pending government [...]
Great Portland secures West End letting November 28, 2012 GREAT Portland Estates revealed yesterday that its joint venture with Scottish Widows Investment Partnership has signed up its first tenant at its office development in the West End. The Great Wigmore Partnership has signed a pre-let deal with actuarial firm Lane Clare and Peacock to take the first three floors at 95 Wigmore Street on [...]
Andy Coulson wins fee appeal November 28, 2012 Andy Coulson, the former director of communications for David Cameron, yesterday won a legal battle against the owner of the Sun and the now-defunct News of the World, where Coulson was an editor. News Group Newspapers will now have to pay Coulson’s legal fees related to allegations of illegal activity after he successfully appealed a [...]
Telefonica cuts debt with swap November 28, 2012 Spain’s Telefonica said yesterday it would slash €776m (£626m) from its €50bn debt after receiving 97 per cent uptake in a swap of preference shares for stocks and bonds. The cash raised will take the Spanish telecoms group closer to its year-end leverage target of 2.35 times operating income. The firm, which must slash debt [...]
Ford set to delay new minivans November 28, 2012 Ford may delay the next versions of the Galaxy and S-MAX minivans as it plans to shut a factory in Genk, Belgium, where the vehicles are made, German magazine Auto Motor und Sport reported yesterday. Ford said on 24 October that it plans to close the Genk factory employing about 4,300 workers by the end [...]
United Utilities gets boost from higher pricing November 28, 2012 UNITED Utilities yesterday said price rises had enabled it to report higher revenues yesterday, keeping the UK’s largest listed water utility on track to meet its targets. Revenue increased 3.8 per cent to £823m in the six months to the end of September, thanks to a 5.8 per cent price increase permitted by British water [...]
Talvivaara production under scrutiny after mine restart stalls November 28, 2012 NICKEL miner Talvivaara yesterday postponed the restart of mining in Sotkamo, Eastern Finland by half a year to mid-2013, raising concern over its future metals production. The Finnish company, which pioneered a technique to extract nickel using bacteria, has been hit by a series of problems in the past year, including waste water leakage, production [...]
Smith & Nephew buys skin heal firm in bid to dominate sector November 28, 2012 MEDICAL technology firm Smith & Nephew yesterday continued its push into the wound healing market by striking a $782m (£487.5m) deal to buy a US company specialising in spray-on treatment for cuts and grazes. The FSTE 100 listed company will buy the assets of Texas-based Healthpoint Biotherapeutics in a $782m all cash deal as it [...]
Telford quadruples profit on the back of Olympics success November 28, 2012 EAST London developer Telford Homes yesterday reported a fourfold increase in pre-tax profits driven by a step up in demand for its properties on the back of the Olympics. The group has sold £60m of new homes at its Stratford Plaza development near Westfield shopping centre which is due to be completed in 2015. Some [...]
