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, [...]
Halifax house price index: House prices hit new record – but activity remains ‘soft’ | City A.M. August 7, 2018 House prices rose by 3.3 per cent in the second quarter of the year, hitting a new record of £230,280 – but caution still reigns over the property market. Prices rose 1.4 per cent in July, according to the Halifax house price index, up 1.3 per cent on a quarterly basis. Russell Galley, managing director [...]
Campaign group hands transport minister list of demands over £1.5bn Network Rail arches sale | City A.M. August 6, 2018 Thousands of businesses facing rent hikes from the sell-off of Network Rail’s £1.5bn commercial property portfolio have written to the transport minister Jo Johnson to demand he safeguard their interests. Among the proposals is the request that he pause the sale to allow local parties to declare their interest; a “year-zero” rent audit to ensure [...]
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. [...]
Last Week in the City: Trade fears re-emerge August 3, 2018 Garry White, chief investment commentator, looks at the market-moving events that have shaped the UK equity markets this week (30 July to 3 August 2018). Interest rates were raised in the UK for the second time since the financial crisis, but the move was widely expected. The earnings season continued. Growth in all regions was [...]
China urges US to ‘calm down’ as trade dispute escalates over new tariff threats | City A.M. August 2, 2018 China has urged the US to ‘calm down’ after Donald Trump threatened to impose a 25 per cent tariff on $200bn (£153m) worth of goods as punishment for it not offering trade concessions. Trump’s trade adviser Robert Lighthizer said the US president had taken the decision to up the levy from an original 10 per [...]
Property price growth for the world’s most expensive residences hits five-year low but London slowdown improves | City A.M. August 2, 2018 Transparency measures and a clampdown on foreign buyers has pushed the world’s most expensive properties to their lowest levels of growth in more than five years, while London’s slowdown shows signs of improvement. Prime property has suffered its weakest rise in growth since the end of 2012 over the last three months, according to the [...]
Nationwide House Price Index ticks up – but economists urge caution | City A.M. August 1, 2018 Annual house price growth has climbed ahead of a possible rate rise this month, according to the Nationwide House Price Index. Prices in July rose by an average of 2.5 per cent, up from two per cent in June. It comes just a day before the Bank of England’s monetary policy committee (MPC) meets to [...]
Greggs flags flat full year profits as it says it’s cautious on consumer outlook July 31, 2018 Greggs has said profits will be flat for 2018 as the baked goods business warned it is cautious about the consumer outlook. But investors were happy with its solid half year update: Greggs' share price was up 5.9 per cent in early trading. The figures Total sales at Greggs rose 5.2 per cent to £476m, [...]