House prices still falling yet London defies trend January 31, 2011 HOUSE prices in England and Wales fell for the fourth consecutive month in December, yet in London prices ticked up sharply, official data showed yesterday. Overall house prices dropped by 0.2 per cent compared to November, yet in London month-on-month prices were up by one per cent, and 6.2 per cent higher than in December [...]
Sale of Taylor Wimpey USA makes £600m March 31, 2011 HOUSEBUILDER Taylor Wimpey has sold its North American business to a group of private equity firms for $955m (£595m), in a long-awaited deal that will help it cut debt and focus on its UK business. “The sale is a significant step towards our goal of becoming a UK-focused homebuilder,” chief executive Pete Redfern said yesterday. [...]
Ocado lifted by upgrade March 1, 2011 OCADO shares were boosted yesterday after broker Goldman Sachs upgraded its rating on the shares. The stock has fallen by almost a quarter since 11 February, when Goldman – Ocado’s house broker – placed ten per cent of the company’s shares at 265p each. Goldman raised its rating on the online delivery company from “hold” [...]
WHAT THE OTHER PAPERS SAY THIS MORNING March 30, 2011 FINANCIAL TIMES CHRISTIAN CANDY TO RESELL GOLD SHARES Christian Candy, the property developer, is to sell shares back to minority investors in a gold mining company after his attempt to take the mine owner private was thwarted. The agreement is part of a deal that could strengthen the rights of small investors. It is set [...]
Christie’s announces record-breaking sales of £3bn January 27, 2011 AUCTION house Christie’s notched up £3.3bn of sales in 2010 – the highest total in its 244-year history – as the art market continued to defy the global slump. It was a year of record-breaking firsts for the auctioneer, with global sales up by 53 per cent. Pablo Picasso’s Nude, Green Leaves, and Bust fetched [...]
Hammering away at the property auction myths March 10, 2011 WITH repossessions on the rise, property auctions are a topic on everybody’s lips. While you might not be interested in a flat in Ireland, the increasing supply of homes under the hammer has certainly sparked the British public’s interest in the market. Charles Lucas, an auction expert at Chesterton & Humberts, says there are more [...]
Profits double at Persimmon as sales falter March 1, 2011 HOUSEBUILDER Persimmon warned yesterday that the weak mortgage market will continue to dampen sales this year, after almost doubling its pre-tax profit to £153.9m in 2010. While Persimmon sold 4.5 per cent more homes last year, the firm said completions tailed off towards the end of 2010 amid a tough mortgage market and economic fears. [...]
Hands joins Chaucer bid fray February 8, 2011 GUY Hands’ Terra Firma buyout house confirmed it was in the bid race for Lloyd’s insurer Chaucer yesterday following feverish speculation over the potential bidders. Sources familiar with the situation told City A.M. that at least one further bidder is also in talks with the insurance company. A US trade buyer is reportedly in takeover [...]
Hands joins Chaucer bid fray February 8, 2011 GUY Hands’ Terra Firma buyout house confirmed it was in the bid race for Lloyd’s insurer Chaucer yesterday following feverish speculation over the potential bidders. Sources familiar with the situation told City A.M. that at least one further bidder is also in talks with the insurance company. A US trade buyer is reportedly in takeover [...]
Moulton’s Better Capital buys parts of Connaught February 1, 2011 VENTURE capitalist Jon Moulton has bought parts of collapsed housing repair group Connaught, as administrator KPMG nears the end of dismantling the firm. Moulton’s private equity group Better Capital said yesterday is will pay £15m to buy and restructure Connaught’s risk management subsidiary, which did not collapse but was held by KPMG as one of [...]