All Property Week articles in 26 December 2008 – Page 7
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UAE resists cutting interest rates
Central banks around the world are cutting interest rates to reduce the price of money and soften the impact of the global recession on their economies. But in the UAE, the Central Bank is doing the opposite.
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Taylor Wimpey sees end to debt crisis
Taylor Wimpey predicted it would end the year having agreed a deal with lenders that would forestall any January breach in covenants attached to the house builder’s £1.9bn debt.
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Epic brews Whittard rescue
The 128-store Whittard of Chelsea chain of specialist tea and coffee retailers, also known for its quirky teapots and chinaware, has been bought by Epic Private Equity, after going through a “pre-pack” administration.
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House prices to fall further 10% says RICS
The RICS has forecast that house prices will fall by 10 per cent in 2009, but said that sales volumes would climb by the same amount.
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Deal saves 900 Officers Club jobs
The struggling British menswear retailer The Officers Club was in new hands today after a deal which saved more than 900 jobs.
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Mortgage lending hits record low
The number of mortgages granted to new home buyers in November tumbled by nearly two thirds to a record low, it emerged yesterday.
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US home sales dips despite price falls
The pace of sales of existing homes in the US slowed by 8.6% last month, as buyers retreated from the market in spite of falling prices.
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Economy shrank 0.6% in third quarter
The recession in the three months to September was even worse than previously thought, highlighting the threat of a sharp slowdown next year.
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NewsProLogis to sell China business to reduce debt
US shed giant ProLogis has agreed to sell its China business and its 20% stake in its Japanese funds, to GIC Real Estate, the property investment arm of the Government of Singapore Investment Corporation for $1.3bn (£880m).
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Fletcher King half-year profits down 84%
Property services firm Fletcher King today reported half-year pre-tax profits of £74,000.
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US court gives green light to Lehman Brothers investment management buy-out
A management buy-out of Lehman Brothers’ US based investment management division was yesterday given the green light by the bankruptcy court.
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South African investor Kirsh increases Minerva stake
South African investor Nathan Kirsh has increased his stake in listed London developer Minerva to 27.2%.
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Taylor Wimpey close to agreeing new bank terms
Taylor Wimpey has confirmed that it is close to agreeing new debt terms with its banks for its £1.9bn debt.
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RBS falls as Moody's fears for property
Royal Bank of Scotland (RBS) was under pressure following fears that its exposure to the commercial property market will lead to further writedowns and losses in 2009.
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Speymill shares hit new low as it warns of pretax loss
Speymill, the property investment manager, today said it expects to make pre-tax losses for the financial year because of problems at its contracting business Speymill Contracts.
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OnlinePlans for a floating hotel in Hartlepool revealed
Premier Inn, the budget hotel operator, is planning a 54-bedroom floating hotel in Hartlepool.
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Recession hits more retailers
The latest retailer to be effected by the recession is Whittard of Chelsea which is thought to be on the brink of administration today.
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OnlineHypo Real Estate to slash workforce by 1,000
Hypo Real Estate will make 1,000 redundancies over the next five years as it reduces its costs in the face of global recession.
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Hiroshima contractor may have to liquidate
Contractor Urban Corp. has given up efforts at court-mandated rehabilitation and is now looking at liquidation, sources said.
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Bleak picture for US housing market
A trio of reports due Tuesday are expected to paint a bleak picture of the nation's housing market and the broader economy, as the deepening recession sends more companies lining up for a piece of the government's $700bn bailout fund.
