China’s answer to Vegas is Eastern gambling paradise September 4, 2011 OF all the improbable consequences of China’s headlong rush into beating capitalism at its own game, Macau is the weirdest.In common with nearby Hong Kong, the former Portuguese colony returned to Chinese ownership in 1999, but remains largely self-determining. As a result, gambling is legal. And not just legal: Macau is known as the Vegas [...]
New projects steal the show at Portland May 24, 2011 LONDON real estate investor Great Portland Estates (GPE) yesterday reported a 78 per cent rise in profits to £50.4m, as it unveiled planning approval for its Hannover Square project and the sale of some of its stake in 100 Bishopsgate. The firm’s West End-focused property portfolio gained 15.5 per cent in value to £1.65bn over [...]
New projects steal the show at Portland May 24, 2011 LONDON real estate investor Great Portland Estates (GPE) yesterday reported a 78 per cent rise in profits to £50.4m, as it unveiled planning approval for its Hannover Square project and the sale of some of its stake in 100 Bishopsgate. The firm’s West End-focused property portfolio gained 15.5 per cent in value to £1.65bn over [...]
EXPERT OPINION | CURRENCY AS A STANDALONE ASSET CLASS June 16, 2011 Stuart Frost portfolio manager RWC Partners At RWC, we view currency as a standalone asset class as it is a reflection of capital flows around the world and provides income through currency appreciation or interest rate differentials. Some would argue that currency is merely the conduit for commodity, equity or bond investing, but if the world [...]
Wolseley profit jumps 30pc with US boost June 1, 2011 Building supplies company Wolseley said third-quarter operating profit jumped 30 per cent, lifted by a healthy repair and maintenance sector, and strong revenue growth in the U.S. The world’s largest plumbers and building merchant said underlying operating profit soared to £131m in the third quarter to 30 April, from £101m in the same period last [...]
Mitie profit climbs as order book fills May 23, 2011 CONSTRUCTION and outsourcing firm Mitie said increased demand for bundled services had helped boost its full-year profit and that significant outsourcing and energy opportunities would help sustain growth. Mitie, which provides services from cleaning to engineering, said revenue for the year to 31 March was up 10 per cent to £1.89bn, with profit before tax [...]
NYSE chief says Deutsche merger on track June 1, 2011 NYSE Euronext chief executive Duncan Niederauer has reassured Deutsche Boerse investors that the blockbuster merger between the two exchanges is on track although regulatory approval has not yet been granted. Full approval from European regulators for the $10.3bn (£6.2bn) deal is not expected until the fourth quarter of the year, but NYSE Euronext shareholders will [...]
NYSE chief says Deutsche merger on track June 1, 2011 NYSE Euronext chief executive Duncan Niederauer has reassured Deutsche Boerse investors that the blockbuster merger between the two exchanges is on track although regulatory approval has not yet been granted. Full approval from European regulators for the $10.3bn (£6.2bn) deal is not expected until the fourth quarter of the year, but NYSE Euronext shareholders will [...]
Architecture is frozen ambition July 10, 2011 Office Space Despite talk that tall buildings have had their day, skyscrapers still reflect our highest values TALL buildings are a mirror of human confidence, ability and enthusiasm. They reflect our belief in our own capabilities to design and build them, and in the appetites of the markets to fund, lease and buy them. In [...]
Construction springs back in quarter one April 4, 2011 BRITISH construction grew strongly through the first quarter of the year, data revealed yesterday. However, the sector, which accounts for around 6.3 per cent of GDP, is increasingly under pressure from rising prices. Input prices for construction accelerated to a 31-month high, according to the closely-watched purchasing managers’ index (PMI) published yesterday by Markit. Costs [...]