UK housebuilding could fall to half of target without intervention new report warns May 7, 2024 Uncertainty and inflation are hitting builders' output, threating government housebuilding targets.
Shell kicks off £2.74bn share buyback as earnings beat expectations August 1, 2024 Shell kicked off a new share buyback programme today as it posted better-than-expected numbers for the second quarter despite a previously announced $2bn (£1.6bn) impairment and a slide in revenues.
Travis Perkins: Toolstation owner slashed 400 jobs and 19 branches as slowdown hit construction sector February 28, 2023 Builders’ merchant Travis Perkins has revealed it axed 400 jobs and shut 19 branches at the end of last year as a slowdown in the construction sector hit its bottom line. The group, which owns the Toolstation chain, said it was forced to take some “difficult decisions” to slash costs by £25 million this year. [...]
Navigating the Challenges of the Legacy of Private Finance Initiative (PFI) Hand-backs: Strategies for the Public Sector June 10, 2024 While PFI had its heyday in the past, its legacy continues to present challenges for the public sector today as they navigate the complexities of asset hand-backs and financial obligations. The Private Finance Initiative (PFI) was initially introduced in the UK by the Conservative government in 1992 during John Major’s tenure as Prime Minister. In [...]
House building craters to weakest level in 14 years amid Bank of England interest rate rises July 6, 2023 The Bank of England’s series of aggressive interest rate hikes to pull back raging inflation is wreaking havoc on house building, dealing a blow to first time buyers hoping to get on the property ladder any time soon, a closely watched survey out today shows. According to S&P Global and the Chartered Institute of Procurement [...]
Crest Nicholson: Housebuilder issues profit warning over runaway costs and readies for legal bill over 2021 fire January 15, 2024 Crest Nicholson has lowered its profit guidance for the year due to issues at its Brightwells Yard regeneration scheme in Farnham.
Vistry and build-to-rent giant Sigma extend partnership to meet surging tenant demand February 14, 2024 The firm said today it has entered an agreement with build-to-rent specialists, Sigma Capital Group to deliver the quota across a number of UK regions over the next five years.
Construction firms clear backlogs before downturn hits October 6, 2022 Construction firms are clearing a huge backlog of work, but the sector is on course to shrivel in the coming months as it is whacked by soaring interest rates, a closely watched survey published today. S&P Global and the Chartered Institute of Procurement and Supply’s (CIPS) purchasing managers’ index (PMI) for the construction industry swung [...]
HS2 boss admits London to Birmingham line could actually cost £66bn January 10, 2024 The costs of the HS2 line from London to Birmingham could be as much as £66bn, according to the scheme’s executive chair, Jon Thompson. Thompson told the transport select committee on Wednesday that despite the current estimate being upwards of £56.6bn, the first phase of the high-speed rail project could add “between £8bn to £12bn,” [...]
House prices ‘static’ with interest rate cuts on the horizon June 7, 2024 London remained ahead of the country, with the median price of a house nationally at £288,688, compared to London which was £536,821, 0.2 per cent up on what it was last year.