Mixed record for Balfour as profits soar but project takes hit from Carillion collapse August 10, 2018 Balfour Beatty’s profits soared 69 per cent in the first half of 2018 in the wake of its long turnaround plan, despite additional £23m losses stemming from a project taken over after the collapse of Carillion earlier this year. Underlying profit from operations increased to £66m for the six months to the end of June [...]
Derwent developments bring major boost to London August 10, 2018 Major property developer Derwent London gave a huge boost to confidence in the capital yesterday by committing to £700m worth of new high-end development projects. The FTSE 250 giant will start work next year on a £500 million redevelopment of the historic Astoria music venue on the corner of Oxford Street and Charing Cross Road, [...]
Cathay Pacific reports diving profits amid rising cost of fuel August 9, 2018 Cathay Pacific’s share price plunged to an eight-month low this morning after the Hong Kong airline reported surprise losses for the first half of the year. Rising fuel costs pushed the carrier’s losses down to HK$260m (£26m) in the first six months through June, despite expectations that the firm was set for profits of up [...]
Quilter posts strong debut profits after growth in new client money August 8, 2018 Wealth manager Quilter reported rising profits yesterday in its first ever set of results since listing as a standalone business. Quilter, which was spun out of insurance company Old Mutual earlier this year, posted pre-tax profits of £110m in the first half of 2018, rising 16 per cent compared with the same period last year. [...]
Insurer Hiscox is first tenant for tallest City of London skyscraper at 22 Bishopsgate August 6, 2018 The City’s tallest skyscraper has landed its first tenant as plans for a global insurer to take a 19-year lease in the building were unveiled today. Hiscox hopes to occupy three floors of the building at 22 Bishopsgate, known as Twentytwo, once construction is set to be completed late next year. The 62-storey building is [...]
Cast away: divorced men responsible for rising tide of houseboat demand August 5, 2018 The blazing summer has added to attractions of life on the water, and enabled houseboat sales to escape the wider slump in the capital’s residential property. “It’s been a bumper year for houseboats,” said Lana Wrightman, spokesperson for London’s largest waterside property estate agent, Riverhomes. “It’s like musical chairs trying to keep up with demand. [...]
Home with a view: Seaside houses with a sight of the water sell for nearly a third as much as the properties around them July 19, 2018 While much of the English coast conjures up images of rainy weather and cold waters, new research suggests that houses with a view of the sea are likely to fetch nearly £70,000 more than those without one nearby. Data from Rightmove has found that properties under £1m in seaside towns with a sight of the [...]
Airbus and Boeing reach sky-high orders as Farnborough Airshow begins to wind down July 19, 2018 Leading plane manufacturers Airbus and Boeing have won combined orders for nearly 1,000 aircraft at the Farnborough AirShow so far this week, as the UK’s biggest calendar event for the aerospace and defence sector draws to a close. In a week-long competition to land multi-billion dollar deals, Boeing beat Airbus to the top spot with [...]
UK aerospace trade set to soar as Farnborough AirShow deals blossom July 18, 2018 Aerospace is the UK’s second fastest growing export sector, according to new research which comes in the week of the industry’s biggest event of the year. Exports in the aerospace sector are set to grow 3.7 per cent a year up until 2021, making the sector second in its growth only to food and beverage [...]
Stunted house price growth dragged down by London slump July 18, 2018 House price growth in May slowed to its lowest annual rate in nearly five years, according to figures from the closely-watched Office for National Statistics (ONS) house price index. On average house prices across the UK have risen three per cent in the year to May 2018, falling from 3.5 per cent in April and [...]
