Why more private developers are looking to buy up the air rights above your building and make a fortune September 28, 2016 It isn’t hard to find a property expert claiming the future of the London housing market is up in the air. But there’s a growing band of developers who agree with them, albeit in a more literal sense. Smaller housebuilders have to get creative when looking for viable development opportunities, and for an ambitious few, [...]
Petrofac shares have jumped as bidding activity increases on rising oil prices February 22, 2017 Petrofac's shares jumped today on increased bidding activity in its core Middle Eastern markets, as oil prices continued to recover. The figures For the year to the end of December, oil and gas service provider Petrofac posted a net profit of $1m (£802,439) compared with a loss of $349m the previous year. Reported profit was hit by $319m of exceptional items [...]
Nostrum’s shares rise as its operations pull ahead of expectations January 31, 2017 Nostrum Oil and Gas' shares are up after the firm's cost cutting measures and production levels exceeded expectations in its 2016 operational update. The figures In the oil firm's full-year operational update, average daily production was 40,351 barrels of oil equivalent per day (boepd), which was slightly above guidance of 40,000 boepd. Average production was higher in [...]
Planned City skyscraper 22 Bishopsgate taken down a notch over fears of plane crash risks December 6, 2016 A new skyscraper planned for the City has had to knock a few floors off the top, over fears that cranes used to build it could pose a risk to flights over London. New plans have been submitted to reduce 22 Bishopsgate's height by four floors, or 22m, according to Construction Enquirer, meaning the tower [...]
Interserve shares are hurtling on the soaring cost of exiting its energy-from-waste business February 20, 2017 Interserve's share price has fallen more than 26 per cent after the firm said it will more than double the expected charge for exiting its energy-from-waste business to about £160m. After a review of operational developments and the impact of a "lengthy period of litigation", the British support services and construction group said its original provision of [...]
Toshiba’s troubled nuclear business Westinghouse is bringing in bankruptcy lawyers March 9, 2017 Toshiba's US nuclear business, Westinghouse, has hired bankruptcy attorneys, signalling to investors it is serious about the potential of a Chapter 11 filing. The Japanese conglomerate brought in law firm Weil Gotshal & Manges to explore the option, but it had not yet taken a decision on a bankruptcy filing, sources told Reuters. Toshiba's shares closed down 7.2 per [...]
PSA will honour commitments to Vauxhall plants says business secretary February 24, 2017 Peugeot will stick to commitments made to Vauxhall factories in the UK, according to business secretary Greg Clark. Clark said he had a “constructive meeting” with the chief executive of Peugeot SA (PSA), Carlos Tavares, in a statement this afternoon. “The meeting was reassuring,” Clark said. “We discussed how PSA's approach is to increase market [...]
EDF skirts around Hinkley Point being completed by 2025 May 24, 2016 EDF skirted around committing to the Hinkley Point C nuclear power plant in Somerset being finished by 2025. When asked whether the nuclear power plant will be completed on time, De Rivaz said this is "the date we would like to be able to confirm” but cautioned it will only be set after the final [...]
The RMT slams Aslef’s fresh agreement with Southern rail as “the old deal in a new envelope” March 16, 2017 Secretive talks to reach a new agreement over the Southern rail strikes came to fruition yesterday, but the Rail, Maritime and Transport (RMT) union hasn't been won over. Train drivers' union Aslef and Southern's parent firm Govia Thameslink Railway (GTR) had been holding fresh talks in London after a previous agreement was dashed when members turned [...]
Peugeot maker PSA has reached a deal to buy Opel and Vauxhall March 4, 2017 French carmaker PSA has closed on a deal with General Motors (GM) to buy the firm's loss-making Opel division, which includes Britain's Vauxhall, according to reports. The two groups announced today they will hold a press conference Monday morning – but they didn't specify a subject. Sources told Reuters PSA's board approved the deal yesterday and will publicly announce it [...]