All Property Week articles in 01 May 2009 – Page 12
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Punch Taverns creates 'bad bank' for bad pubs
Punch Taverns took a page out of the troubled financial sector’s book yesterday, announcing plans to create the equivalent of a 'bad bank' to park its worst performing assets as it revealed an interim loss of £122m.
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Homebase adds to gloom
Home Retail Group has forecast another year of double-digit falling sales at its DIY chain, Homebase, as it battles against dire trading conditions in the wider home improvement market.
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Lloyds cuts 305 jobs
The financial sector suffered a further employment blow after Lloyds Banking Group confirmed it is to merge the sales forces of its life insurance and investment businesses Scottish Widows and Clerical Medical.
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Unemployment data hints at recovery
The rate of job losses announced by employers has fallen sharply, prompting hopes that the rise in unemployment may not prove as steep or long-lasting as has been feared.
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EU hedge fund plans slammed
The European Commission has been accused of launching a 'blatant attack' on London’s financial services industry with proposals to regulate hedge funds and private equity firms.
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ProLogis European Properties updates on deleveraging
ProLogis European Properties has agreed new bank facilities and the sale of a portfolio as part of its plans to deleverage.
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Land Securities sells £83m from its retail portfolio
Land Securities has completed the sale of £83m of retail assets from its shopping centre and retail warehouse portfolios.
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Aviva to sell £800m property portfolio
Aviva Investors is to sell a £800m property portfolio and has instructed DTZ to sell the 47 properties.
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JLL makes $61m first quarter loss
Jones Lang LaSalle suffered a $61m net loss in the first quarter of the year, with Europe being the worst-performing division.
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Achilleas Kallakis
Following articles published in relation to Achilleas Kallakis on 3 April 2009, we would wish to make it clear that there were inaccuracies in our reporting which caused the article to be misleading.
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Highbridge secures data centre funding
Highbridge Developments has secured £175m funding to build a data centre at its Cobalt Park in North Tyneside.
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Shopping centre development uncertain
The uncertainty of developing shopping centres was emphasised by Westfield’s John Burton at the British Council of Shopping Centres’ breakfast lecture today.
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Stenham appoints UK head of property
Global investment management group Stenham has appointed Andy Taylor as head of UK property.
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HMV clear to take over 15 Zavvi music shops
The Office of Fair Trading has cleared the proposed acquisition of 15 former Zavvi music stores by HMV.
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Budapest Bank completes 180,000 sq ft leasing
Budapest Bank has concluded a pre-lease for more than 180,000 sq ft in Budapest.
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Stanhope’s City scheme at 8-10 Moorgate recommended for approval
Stanhope’s plans for a major development at 8-10 Moorgate in the City of London have been recommended for approval.
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Government ‘didn’t listen’ on REIT changes for budget (video)
The British Property Federation and Grainger, the UK’s largest residential landlord, spoke to Property Week about their views on last week’s budget.
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Six-star City hotel recommended for approval
US developer Thomas Enterprises’ plan to redevelop 10 Trinity Square into a hotel and residential scheme in the City of London has been recommended for approval.