New chair for British Land as profits increase November 20, 2012 BRITISH Land, the UK’s second-largest property company by market value, said yesterday that its chairman will step down at the end of December, as it reported a solid growth in profits for the first half of the year. Underlying profit before tax at the real estate investment trust rose 3.8 per cent to £137m in [...]
What is your outlook on British land after these results? November 20, 2012 KEITH CRAWFORD | PEEL HUNT British Land’s arguably overleveraged position constrains improvement opportunities whilst Land Securities majors on medium-run developments… Land Securities, despite the previous two dull results, offers relative appeal and we think is the better stock over the medium and long term. MARK HUGHES | PANMURE GORDON You own British Land in the [...]
CBRE buys property firm EA Shaw November 20, 2012 CBRE has snapped up West End property agent EA Shaw just two months after buying Franc Warwick. The group said the agency, which provides services to clients including Shaftesbury and Soho Estates, will become part of CBRE’s central London business led by head of central London, Adam Hetherington. It will continue to operate from its [...]
Henderson sells £184m portfolio November 20, 2012 Henderson Global Investor has sold 24 remaining assets in its debt-laden CMBS Caspar regional property fund for £184m to buy-out firms Mountgrange and Patron Capital, the property asset manager announced yesterday. Mountgrange and Patron have in turn sold on seven of the warehouses and sites based in London and the south east, to CBRE Global [...]
L&G secures big retail lettings November 20, 2012 Legal & General Property yesterday revealed it has secured Swedish retail giant H&M and restaurants Wasabi and Kim Chee Korean as tenants at its Covent Garden estate on the Strand. The group said it has also signed New Look, Pandora and Sports Direct to its Jackson Square shopping centre in Bishop’s Stortford, which it bought [...]
Divi doubles at EasyJet thanks to record profit November 20, 2012 EASYJET is treating its shareholders to a dividend twice as big as last year, after posting a 28 per cent rise in pre-tax profits to £317m. The budget airline brushed off the fuel cost and traffic concerns that dog the rest of the industry to deliver an 11.6 per cent jump in revenues to £3.85bn [...]
Bernanke says fiscal cliff could see US topple back into depths of recession November 20, 2012 FALLING over the fiscal cliff could shock the US back into recession, Federal Reserve chairman Ben Bernanke warned in a speech yesterday evening. The fiscal adjustment, though necessary in the long run, would be too much for the weak recovery to absorb in one dose, Bernanke told an audience at the New York Economic Club. [...]
Do you think you are being unfairly treated by your energy provider? November 20, 2012 ADO MEDJEDOVIC FIREZZA It could be better I think. It should be easier to switch energy provider accounts. My company that I run has 20 accounts and I think keeping track of them must be made easier. FARHEN ENVER BANGKOK KITCHEN My energy provider didn’t give me a bill for a whole year. Then they [...]
Threadneedle Street needs a human touch November 20, 2012 THE NEXT governor of the Bank of England must speak to his own staff more often than Sir Mervyn King has, to include a wider range of views in policymaking and to understand the development of the Bank’s future leaders, City grandee Bill Winters said yesterday. Winters wrote a review of the Bank’s liquidity operations [...]
Bank of England’s Weale warns high inflation means end of QE November 20, 2012 INFLATION will be too high for the next two years, ruling out any more quantitative easing (QE), top Bank official Martin Weale said yesterday. But he defended the policy from complaints that it hurts pensioners, and said that in future it may be possible to argue QE actually reduces inflation by raising productivity. Under QE [...]
