Dow heads to highs ahead of key speech February 12, 2013 US STOCKS closed modestly higher yesterday, putting the Dow within striking distance of an all-time high, as investors looked ahead to President Barack Obama’s State of the Union address. Investors will be listening to Obama’s speech for any clues on a deal with Republicans to avert automatic spending cuts due to take effect on 1 [...]
Barclays’ investment bankers wait to hear their fate February 7, 2013 When Barclays chief executive Antony Jenkins speaks about shredding Bob Diamond’s legacy, as he did the other day, many of his group’s rivals are hoping he is talking about doing away with an actual part of the bank, rather than a cultural construct. For the growth of Barclays’ investment bank has been one of the [...]
City development activity rises December 4, 2012 THE CITY has seen a pick-up in construction activity in the past six months with several schemes achieving early pre-lets, according to the latest Drivers Jonas Deloitte crane survey released yesterday. While office developments in the capital remained flat in the second half, the survey showed “a marked increase” in space under construction in the [...]
TfL considers proposed route for Crossrail 2 February 5, 2013 TRANSPORT for London (TfL) yesterday backed calls for a new £12bn underground railway link to be built through the capital by the early 2030s, following the publication of a proposed route for the Crossrail 2 project. Business group London First unveiled its preferred route for the railway, which will run from south west London to [...]
Give London back its stamp duty to reinvest in growth February 5, 2013 FIFTY years ago the average London house cost roughly the same as a month’s rent in some parts of North London today. Notwithstanding the effect of inflation, that cannot be sustainable, socially or economically. Among the range of housing challenges we face, the greatest by far is simply to build more homes. That’s why Boris [...]
Texan bid for Balfour Beatty November 19, 2012 Balfour Beatty yesterday said it had been selected as the best value bidder for a $798m (£502m) for the Dallas Horseshoe Project in Texas. The design-build joint venture involves the upgrade and replacement of several bridges in Dallas, to shorten the construction schedule and lower the cost.
Letters to the editor January 13, 2013 EU membership [Re: Britain is bound to a Single Market at the expense of freedom to trade, Friday] This is a good article, and it’s encouraging to hear that Britain could thrive outside the EU. I can’t understand why so many politicians are so committed. Recent unrest in the southern Mediterranean and German economic stagnation [...]
Retail failures on the up amid weak demand January 2, 2013 THE NUMBER of retailers falling into administration rose by six per cent last year as the squeeze on consumer spending and the shift of spending towards the internet saw names such as JJB and Comet disappear from the high street. Figures published yesterday by Deloitte, the accountancy firm, show that 194 retailers fell into administration [...]
Private Finance Initiative to be replaced in Autumn Statement December 3, 2012 THE CONTROVERSIAL Private Finance Initiative (PFI) will be replaced with a new programme designed to be cheaper and faster, chancellor George Osborne will say in tomorrow’s Autumn Statement. PFI, which sees the public sector partner with private companies to fund and operate long-term infrastructure projects, will be replaced with Private Finance 2 (PF2). The new scheme will include [...]
Cameron and Clegg pledge to stay until 2015 January 7, 2013 DAVID Cameron and Nick Clegg yesterday insisted the coalition would last a full five-year parliamentary term and said a range of policy announcements on infrastructure investment, childcare costs and housebuilding would form the basis of the government’s work for the next two years. Despite this a leading business group responded by demanding the duo “go further, [...]