St Modwen hails record profits as New Covent Garden Market scheme boosts net asset value June 30, 2015 St Modwen posted a 21 per cent surge in net asset value (Nav) in the first half of the year thanks to its New Covent Garden Market scheme in Nine Elms, which achieved unconditional status in April. The developer reported an Nav per share of 394p after its planned overhaul of the UK’s biggest fruit [...]
Tesco share price falls, sales slide as discounters march on ahead June 30, 2015 Tesco shares were dealt a blow yesterday, after industry figures revealed another slowdown in sales at the troubled supermarket chain – despite its recent efforts to turn itself around. Data from Kantar Worldpanel showed sales at Tesco fell by 1.3 per cent in the 12 weeks to 21 June, underperforming the overall grocery [...]
Galliford Try awarded £360m Silvertown Way development to build 1,100 homes in Canning Town June 30, 2015 Galliford Try has been awarded a contract by the Greater London Authority to build the £360m Silvertown Way development in Canning Town. The project, which will be delivered through its joint venture with Thames Valley Housing Association, will see Galliford Try build more than 1,100 homes, making it the largest standalone housing scheme the company [...]
Greece has missed its deadline to repay €1.6bn to the IMF June 30, 2015 Just as all the markets expected, Greece has not met its deadline to repay €1.6bn (£1.1bn) to the IMF. Read more: Germany won't discuss Greek bailout deal until after Greek referendum The amount, which constituted a bundle of loan repayments from the month of June, was due by 11pm on Tuesday evening. Greek [...]
Fitch downgrades Greece’s credit rating to CC, which is one point above “inevitable” default June 30, 2015 Fitch has downgraded Greece further in junk status, down from CCC to CC. It is now just one point above what is deemed to be a certain default. Read more: Germany won't discuss Greek bailout deal until after Greek referendum The ratings agency, which is the second to downgrade the beleaguered economy in two days [...]
Apple broke antitrust laws by working with publishers to increase e-book prices, US court rules June 30, 2015 A federal appeals court in the US has ruled that Apple conspired with publishers to increase the prices of e-books. Read more: Apple antitrust case on brink of collapse It said today that the technology giant broke antitrust laws when it worked with the likes of Hachette, HarperCollins, Penguin, and Simon & Schuster to [...]
Angela Merkel: Germany won’t discuss Greek bailout deal until after Greek referendum June 30, 2015 Angela Merkel has said Germany won't consider a new proposal from Greece until after Sunday's referendum, after the country proposed a new two-year bailout extension to its creditors. Read more: Tsipras's costly referendum gamble may harm more than just the Greeks Under Greece's new proposal, the funds would be supplied by the European bailout fund, known [...]
Greece could face a huge shortage of life-saving medicines if it defaults on today’s IMF payment June 30, 2015 If Greece defaults on its €1.6bn (£1.14bn) repayment to the IMF today, the country could end up suffering a serious shortage of life-saving medicines. Read more: This Londoner is crowdfunding a Greek bailout fund on Indiegogo In a letter written to the European Commission, the European Federation of Pharmaceutical Industries and Associations (EFPIA) called [...]
UK current account deficit should “ring alarm bells” for the UK June 30, 2015 The UK's current account deficit should ring an "alarm bell" for the UK, the British Chambers of Commerce (BCC) said today, after official figures showed the deficit was £26.5bn in the first quarter of the year. The figure – a measure of the UK's success in exports – has narrowed from last year's £28.9bn – [...]
Willis Group to merge with Tower Watson in $18bn deal June 30, 2015 Reinsurance broker Willis Group is set to merge with risk management group Towers Watson in a deal worth $18bn. On completion the deal will result in Willis owning 50.1 per cent of the combined group. Towers Watson shareholdings will own the remainder, keeping Willis’ Irish domicile, the Financial Times reported today. The deal will create [...]
