WHAT THE OTHER PAPERS SAY THIS MORNING February 23, 2011 FINANCIAL TIMES N IRELAND’S ECONOMIC WOES BOOST TERROR GROUPS, WARN OFFICIALS The parlous state of Northern Ireland’s economy is acting as a recruiting sergeant for dissident republican groups, senior police and security figures warned, raising questions about the pace of spending cuts in the region. The province’s power-sharing executive has been told to find savings [...]
FTSE 100 sinks again over fears of Middle East unrest February 23, 2011 POLITICAL turmoil in Libya and the threat of contagion across the Middle East and North Africa sent Britain’s leading shares lower yesterday, testing seven-month technical support levels. The FTSE 100 index was 73.23 points, or 1.2 per cent, lower at 5,923.53, extending its declines to more than 2.5 per cent on the week. London’s blue [...]
Minerva values rise but lettings remain elusive February 22, 2011 PROPERTY developer Minerva remained tight-lipped over possible tenants for its Walbrook and St Botolph developments yesterday, as it reported a 6.2 per cent rise in net asset value. The London-focused firm made £10.4m profit in the last six months of 2010, while the value of its properties rose 3.2 per cent to £1.2bn “Our short [...]
FTSE falls below 6,000 level as Middle East woes weigh February 22, 2011 BRITAIN’S top share index closed lower yesterday as troubles in the Middle East clouded sentiment, but bumper consumer confidence figures from the US spurred a late rally and boosted commodity stocks. The FTSE 100 closed down 18.04 points or 0.3 per cent lower at 5,996.76, having finished at a two-week closing low on Monday. “The [...]
Hammerson plans more acquisitions February 21, 2011 REAL ESTATE owner Hammerson surprised the market with a 17.6 per cent rise in net asset value yesterday, lifted by a spike in its UK properties’ values. The retail-focused firm’s portfolio in the UK and France rose in value to £5.3bn in 2010, helping to lift net asset value per share to 495p. The company [...]
Lloyds must pay £500m in refunds February 21, 2011 BRITISH bank Lloyds will take a £500m provision after reaching a deal with the Financial Services Authority which will see it give partial refunds to 300,000 mortgage customers. Lloyds, the UK’s biggest retail bank, said it had reached a voluntary agreement with the FSA over initiating a customer review and contact programme with regard to [...]
CITY MOVES | WHO’S SWITCHING JOBS February 21, 2011 Chalsys Capital Partners Chalsys Capital Partners has appointed General Sir Mike Jackson as a special adviser, effective immediately. Jackson will provide specialist advice on renewable energy investments at the investment firm focused on clean tech, green infrastructure and natural resources. Jackson served as the UK’s chief of the general staff 2003-2006 after 45 years in [...]
Targetfollow administrators ready to finish last round of asset sales February 20, 2011 ADMINISTRATORS of two Targetfollow portfolios put into administration last autumn are set to wrap up the final asset disposals, City A.M. can confirm. Deloitte last week appointed agents to sell Targetfollow’s residential and retail buildings on Prince of Wales Road, Norwich. In a separate sale, Deloitte is considering options and offers for nearby Harford Place, [...]
City: No justice in FSA reforms February 17, 2011 TOUGH new powers planned for Britain’s new financial watchdog provoked angry exchanges yesterday in the City, with some lawyers calling the measures an affront to natural justice. Lawyers and firms have warned that the City’s new regulatory regime is being given powers that could reverse the ‘innocent until proven guilty’ rule of law. Under proposals [...]
London is world’s shopping capital February 17, 2011 London beat Tokyo, New York and Paris to be the highest grossing city for retail sales in 2010, according to a study of 22 major worldwide shopping destinations by Britain’s Centre for Retail Research. The study, commissioned by comparison website Kelkoo, found London generated £64.2bn of non-food retail sales last year.