Bovis boost to housing market January 14, 2010 BOVIS is the latest housebuilder to issue upbeat figures fuelling hopes of a recovery in the housing market. The company said profit forecasts were on target with the average sales price up 2.5 per cent on 2008 to £154,600 in 2009. Bovis completed 1,803 homes compared with 1,817 in 2008 – with 1,527 of those [...]
A fly-away internet success March 4, 2010 THE entrance to Cheapflights, the flights comparison website, is based just off Baker Street and contains little more than a vintage advert for Pan Am that hangs on a wall and a couple of leather chairs. Its understated style is also embodied in executive chairman Hugo Burge. The Bedales and Cambridge-educated geographer was in his [...]
A central London property means you can avoid the Tube crush and commute on foot March 25, 2010 ONE in 500 Londoners currently walks to work, and those who have witnessed the capital’s rush-hour crush, when mild-mannered professionals turn into a baying rabble, stamping over the elderly, the sick or the pregnant – anyone who gets in between them and a seat – will understand the appeal of this arrangement. The journey to [...]
Cautious gain at Persimmon January 7, 2010 HOUSEBUILDER Persimmon yesterday remained cautious over the health of the housing market despite a stronger performance in the second half of 2009. The FTSE 250 group said it completed the sale of 8,796 new homes during 2009, which generated a turnover of around £1.4bn. Almost 5000 of these properties were sold in the second half [...]
Religare takes Northgate stake in investment push February 23, 2010 RELIGARE Enterprises, the Indian financial services group, yesterday agreed to take a majority stake in private equity group Northgate Capital, as part of a new commitment to invest up to $1bn (£649m) in asset management firms across the globe. The partnership with Northgate, which has $3bn under management and is based in California and London, [...]
Tesco sales surge after Clubcard bonus January 12, 2010 TESCO has had its best Christmas in three years after slashing prices and offering double Clubcard points to get customers through the door. Britain’s biggest supermarket chain reported that like-for-like sales at its UK stores jumped by 4.9 per cent during December and early January. Tesco saw a 35 per cent surge in sales of [...]
ECONOMIC DIARY February 21, 2010 AFTER a week packed with economic data releases, the next five days promise to be a bit quieter. Last Thursday, the US Federal Reserve hiked the rate it charged banks to hold reserves in a surprise move that signalled a return towards more normal monetary policy. On Wednesday Fed chairman Ben Bernanke will be giving [...]
Primark sales surge thanks to boom in budget fashions January 14, 2010 PRIMARK owner Associated British Foods (ABF) revealed healthy trading figures yesterday – mainly thanks to the budget fashion arm. Primark’s 196-strong chain saw sales rise 19 per cent in the 16 weeks to 2 January, with house broker Panmure Gordon estimating a seven per cent like-for-like sales rise as consumers made their way to its [...]
US unit could be up for sale, says Wimpey January 21, 2010 TAYLOR Wimpey, one of Britain’s biggest housebuilders, is understood to be considering spinning off its North American business through a sale or stock market flotation, which could enable it to slash its debt mountain. The company’s adviser JP Morgan Cazenove is thought to have started sounding out rival and other institutions on their appetite for [...]
Hutchings row strikes Lupus January 25, 2010 LUPUS Capital, the manufacturing investment group which remains embroiled in a leadership battle with founder Greg Hutchings, said yesterday it expects to post a nine per cent fall in annual sales after a highly disruptive year for the company. Lupus has yet to call a general meeting requisitioned a fortnight ago by entrepreneur Hutchings, who [...]