Today's papers
Dubai Holding unit defers loan repayment
The non-financial arm of Dubai Holding, a conglomerate owned by the emirate’s ruler, said it was deferring payment – for the second time – on a $555m loan until the end of November, the Financial Times reported today.
Tesco dirty tricks row: Retail giant accused of bulldozing through plans for big new stores
Tesco has been accused of using its financial muscle and dirty tricks to win approval for a series of new stores, the Daily Mail reported today.
Carrefour sets sights on key growth markets
Carrefour aims to accelerate store openings through acquisition or partnerships in key growth markets such as Brazil, China, Indonesia and Turkey as well looking to re-enter Russia, the Financial Times reported today.
Nakheel pays $681m to contractors
Nakheel, a troubled Dubai-based developer, has paid Dh2.5bn ($681m) to trade creditors as it pushes towards agreement on Dh4bn in unpaid bills to contactors as part of the broader restructuring at Dubai World, its parent, the Financial Times has reported.
GIC eyes property assets IPO
Singapore’s main sovereign wealth fund is close to giving the go-ahead for an initial public offering of a parcel of Asian industrial property assets that could be the biggest IPO in the city state for nearly two decades, the Financial Times reported today.
House prices set to slump even further as home loans stay scarce
The housing market faces a “double-dip” recession this year, with falling prices and a rising tide of negative equity hitting homeowners hard, the Independent reported today.
M&G drops price of property fund units
A property fund managed by M&G has been forced to cut the price of its units following a “persistent” outflow of investor money, in a move that will again raise questions over sentiment towards real estate assets, the Financial Times reported today.
Ray of light for CMBS negotiations
The £1.5bn ($2.3bn) debt restructuring negotiations of Four Seasons Healthcare have been running so long that some bankers jokingly call the UK care home operator “Eight Seasons”, the Financial Times reported today.
Blackstone invests in Chinese housing
Blackstone, the US private equity group, has made its first significant investment in the booming Chinese housing market after agreeing a deal with one of Hong Kong’s largest property developers to build luxury apartments in the country, the Financial Times reported today.
Blues and yellows fall out over Green
Nick Clegg promised a crackdown on tax avoidance yesterday as a division emerged between the Conservatives and Liberal Democrats over the appointment of a billionaire to help to cut public spending, reports the Times.
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Covent Garden boost for CapCo
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Mortgage investors scale back
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Switzerland named priciest place to build
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Foreclosures jump among prime US borrowers
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Norwegian sovereign fund eyes a stake in Regent Street
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London home sellers raise prices to record after rules scrapped
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Republic fashion chain sold to private equity firm TPG
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Hotels a boost for Whitbread
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Ernst & Young faces inquiry over Lehman audit
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UK's biggest grocer suffers worst quarter in five years
