Heritage loses Uganda spat November 24, 2011 HERITAGE Oil has lost a $404m (£261m) tax row in Uganda after the east African country’s tax authority ruled it was liable to pay a disputed capital gains bill. But Heritage said the ruling was “fundamentally flawed” and that it would look at its options for appeal through the courts and arbitration. The dispute centres [...]
Deal agreed for City’s Merchant November 24, 2011 SHAREHOLDERS in Merchant Securities have overwhelmingly backed a takeover offer from South African investment group Sanlam. Investors holding nearly 94 per cent of Merchant shares agreed to the £12.25m deal, which will see Sanlam’s SPIH subsidiary buy the City stockbroker. Sanlam, which had been Merchant’s largest investor with nearly ten per cent, will take its [...]
Grainger up on a south east boost November 24, 2011 GRAINGER, the UK’s largest residential landlord, posted an 8.2 per cent rise in full year net asset value and remained confident in its outlook for the UK residential market as it focuses on London and the south east. Gross net asset value per share at the company grew to 216p at the end of September [...]
London & Stamford slumps into the red on higher costs November 24, 2011 LONDON & Stamford Property swung to a loss in the six months to September, thanks to a jump in exceptional costs and losses on derivatives. The firm, which owns One Carter Lane and Fleet Place in the City, posted a pre-tax loss of £3.4m, compared with a profit of £23.2m in the same period last [...]
W HOTEL SOLD TO QATARI INVESTOR November 24, 2011 THE W Hotel in Leicester Square has been sold to Qatari investor Al Faisal Holding for just under £200m, the developer said yesterday. McAleer & Rushe, the Northern Irish firm that built the 192-bed hotel and 11 flats, said the sale was completed yesterday, with Jones Lang LaSalle and Steerforth Partners advising.
Property developer Helical Bar swings back into full year profit November 24, 2011 HELICAL Bar swung to a first-half pretax profit, while its underlying net asset value slipped lower, and said it expected to sell more non-core assets in the coming months. The company, led by property veteran Michael Slade, posted a pre-tax profit of £4.1m for the six months, up from a loss of £3.2m. “The group [...]
HTC plummets after it cuts sales outlook November 24, 2011 HTC, the world’s number four smartphone maker, warned it would see no revenue growth this quarter, in a further sign that bigger rivals Apple and Samsung are stealing sales. The Taiwanese company, which is valued at around $16bn (£10bn), had previously forecast fourth-quarter revenue would grow 20-30 per cent from a year ago. The surprise [...]
What a difference a month makes November 24, 2011 WHAT a difference a month makes. At the end of October, HTC said it expected fourth quarter revenues to jump by almost a third; yesterday, the Taiwanese firm shocked markets by saying sales in the last three months of the year would in fact be flat. In cash terms, HTC has chalked down its estimates by [...]
Future shares tank as ailing publisher falls to annual loss November 24, 2011 SHARES in Future, the troubled magazine publisher, plunged by almost a fifth yesterday, after it fell to an annual pre-tax loss of £18m. The firm, which publishes magazines as diverse as Total Film, Cycling Plus and Simply Knitting, scrapped its dividend until at least 2013 after revenues at its ailing US division tumbled by 16 [...]
Mediaset in a takeover bid for Endemol November 24, 2011 MEDIASET, the media empire owned by former Italian leader Silvio Berlusconi, yesterday confirmed it has made a joint bid for TV producer Endemol. The company has made a joint bid with Clessidra, an Italian asset manager. Pier Silvio Berlusconi, the ex-Italian PM’s son and Mediaset chairman, told reporters yesterday that the two firms had put [...]
