The Walbrook is about to strike gold February 23, 2010 FOR those who like playing the waiting game, Minerva is a good bet. As expected, it swung to a profit while its net asset value (NAV) per share also continued to edge up, to 102p in December from 95p a month earlier. There were no major letting announcements, however, which will come as a surprise [...]
Telecoms giants welcome cross-party findings that a phone line tax is unfair… February 23, 2010 Telecoms heavyweights have thrown their support behind select committee findings that a phone line tax would be unfair for consumers. The cross party business innovation and skills committee said yesterday the plans would tax the majority to provide super fast broadband to the few. The £6 annual tax has been expanded from its initial focus [...]
… while claiming new file sharing policy won’t work February 23, 2010 The government’s defense of its Digital Economy Bill calling for internet service providers to ban known file sharers has been rubbished by telecoms firms. An internet petition called for the rules, designed to stop piracy of content including films, books and music and backed by business secretary Lord Mandelson, to be scrapped as they could [...]
ANALYST VIEWS: WHAT DO PENDRAGON’S RESULTS MEAN FOR THE CAR MARKET? February 23, 2010 TIM RICHMOND | ARDEN Overall, these results are encouraging and represent the first step in the recovery story. We believe the shares are undervalued, but expect shares will perform when the other profit growth expected in 2010 becomes apparent. Used car margins are stable and are expected to remain so. ERIC WALLBANK | ERNST & [...]
Scrappage scheme helps Pendragon boost profits February 23, 2010 BRITAIN’S biggest car dealership Pendragon bounced back to profit last year – following a boost from the car scrappage scheme. The company posted underlying pre-tax profits of £10.1m for the 12 months to 31 December, compared with a loss of £33.6m in 2008. But it warned that the market would not be returning to pre-recession [...]
Approvals of home loans drop sharply February 23, 2010 MORTGAGE approvals fell sharply in January in response to inflated December activity and adverse weather conditions, the British Bankers’ Association (BBA) said yesterday. Data from the BBA showed that the number of mortgage approvals for house purchase fell to 35,083 last month from an elevated 45,650 in December, which had been boosted by the end [...]
CITY VIEWS: IS IT POSSIBLE FOR HOUSE PRICES TO DIP AGAIN IN 2010? February 23, 2010 MIKE MURTON | TRISYSTEMS “If people sit tight prices will go up because of the lack of available property on the market. It’ll be back to the good old days but not for the good old reasons. Mortgages and mortgage rates are likely to increase as banks pay back their government loans.” SANDRA BOYD | [...]
Rogoff warns of debt defaults February 23, 2010 The world economy will be rocked by several sovereign debt defaults in coming years, Ken Rogoff said yesterday in a speech in Tokyo. The former IMF chief economist said it was hard to call the timing of such an event, but warned that it would happen, noting countries would cut spending when interest rates rose.
US consumer confidence slumps February 23, 2010 Data released yesterday showed that US consumers are at their least confident in 10 months. Industry group The Conference Board said its index fell to 46 in February from 56.5 last month, its lowest reading since April 2009. Consumers cited concerns about current business conditions and the jobs market.
Fall in US Case-Shiller house prices February 23, 2010 The US Case-Shiller house price index, measuring property prices in 20 American cities, unexpectedly fell in December by 0.2 per cent on the previous month. However, on a seasonally-adjusted basis, prices rose 0.3 per cent – the seventh consecutive monthly rise. On an annual basis, house prices fell 3.1 per cent
