Brit Land buys Mayfair estate July 25, 2012 BRITISH LAND revealed yesterday it has acquired the Clarges Estate on Piccadilly for £130m from the low profile Latvian Sebba family. The group plans to develop the entire site opposite the Ritz and Green Park in Mayfair, into a 200,000 square feet scheme with shops, offices and luxury flats. The whole site will be worth [...]
Demand soars for Renishaw July 25, 2012 SHARES in British engineering company Renishaw soared 16 per cent yesterday as the firm reported a five per cent rise in full-year profit, helped by strong demand for its precision measuring products across its markets. Renishaw, which makes measuring and inspection equipment for the metrology and healthcare industries, reported revenue of £103.1m for the fourth [...]
CATERPILLAR RAISES PROFIT FORECASTS July 25, 2012 CATERPILLAR, the world’s largest maker of construction equipment, raised its 2012 profit forecast yesterday and said the global economy was slowly improving amid pockets of weakness. For the second quarter, Caterpillar reported a profit of $1.67bn, or $2.54 per share, compared with $1.02bn, or $1.52 per share, a year earlier.
Heathrow is ready for record Olympics traffic July 25, 2012 AIRPORT owner BAA said it was ready for record-breaking traffic at Heathrow expected today, while boss Colin Matthews trumpeted the firm’s investment in the hub as vital for the British economy. BAA spent close to £550m in improving Heathrow in the first half of the year – and the firm plans to spend a further [...]
Government slams the brakes on Peugeot’s drive for change July 25, 2012 THE creation of 1,100 new jobs in the West Midlands by Jaguar Land Rover shows the British car industry continuing to accelerate. It’s also another reminder of just how far JLR has come from the dark days of 2009, when it instituted a four-day week to avoid job cuts and looked to the European Investment [...]
Sun-seeking British passengers put a shine on EasyJet earnings July 25, 2012 EASYJET has raised its profit forecast for the year after seeing a rise in British tourists taking European holidays and a drop in fuel costs. Revenues in the quarter to the end of June rose 10.5 per cent to £1.03bn, and EasyJet now predicts full year pre-tax profit will rise to between £280m and £300m, [...]
Peugeot defends plans for cuts after slumping to first-half loss July 25, 2012 PEUGEOT yesterday promised to press ahead with cost savings, as it registered a huge loss for the first half of the year. An overall loss of €819m (£641.8m) was driven by a €662m loss in the French giant’s car making division, itself driven by sales that fell 5.1 per cent to €29.55bn. Chief executive Philippe [...]
Jaguar Land Rover will create 1,100 new jobs in West Midlands July 25, 2012 CAR manufacturer Jaguar Land Rover, which is owned by India’s Tata Motors, yesterday announced plans to create 1,100 jobs building new luxury car models at its West Midlands plant. The new Jaguar XF Sportbrake estate car will be built at the firm’s plant in Castle Bromwich, along with other models. The company has hired 8,000 [...]
New trains for intercity routes July 25, 2012 BRITAIN’S rail network is to get more than 90 new trains over the next six years, the department for transport confirmed yesterday, after years of delays on the £4.5bn deal. Hitachi and John Laing have been signed up to provide the intercity trains, with around 900 jobs created at a new factory in County Durham, [...]
EC plans mean Libor-fiddlers could face jail July 25, 2012 LIBOR manipulation will become a crime across the European Union under new plans unveiled yesterday by commissioners Viviane Reding and Michel Barnier. The announcement comes after Barclays was fined £290m by the Financial Services Authority for entering false interest rates to the British Bankers’ Association (BBA) who set the key interbank lending rate. That scandal [...]
