All Property Week articles in 27 February 2009 – Page 11
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Fight looms over foreclosure move
Congress is readying legislation designed to step up government efforts to stem the rise of home foreclosures. But a fight looms over a provision sought by President Obama that would give bankruptcy judges new authority to reduce mortgage debts.
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Hong Kong most expensive office centre - for now
Hong Kong overtook London as the most expensive place to rent offices last year, but the No 1 position may be fleeting as local landlords brace for a big decline in the market this year.
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Cash boost for Dubai property firms
Dubai will initially channel funds from a multibillion-dollar borrowing programme towards government-owned property developers, especially those struggling to adjust to a global economic downturn that has hurt the market and strained the banking system.
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Dubai regulator sets property investment safeguards
Dubai property buyers will be able to get full information on whether construction of their homes is on schedule, delayed or has been cancelled, in an initiative designed to protect investors.
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Berkeley increases land war chest with £50m share placing
Berkeley Group is to raise £50m of new equity to increase its firepower.
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Japan hit export slump for 50 years
Japan's exports fell by nearly half last month, with shipments of cars plummeting by over two thirds, plunging the world's second largest economy ever deeper into recession.
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Minerva: 'significant doubt' as to ability to continue as going concern
MInerva warned this morning that it would breach its banking covenants in June 'if existing market conditions and property valuations do not improve'.
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Government to insure £325bn of toxic assets as RBS loses £24bn
Royal Bank of Scotland was preparing to inject loans and other credit assets worth more than £325bn into a government-backed insurance scheme last night in an effort to stabilise the state-controlled bank while saving it from full nationalisation. The move comes as it records the largest annual loss in UK ...
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Barratt plunges to £592m pre-tax loss in writedowns
A fall in operating profit margins and a writedown of almost half a billion pounds worth of assets caused Barratt Developments to plunge to a £592m pre-tax loss in the final six months of last year.
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Liberty moves to bolster balance sheet
Liberty International is looking at ways of raising new equity and also cut its dividend to bolster its balance sheet.
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Antigua set to seize Stanford assets
Antigua plans to seize tens of millions of dollars of land and property belonging to Sir Allen Stanford in a move that threatens to confuse efforts to investigate the tycoon’s empire and recover investors’ money.
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Costs and space use key to BHS and Arcadia merger
Sir Philip Green, the owner of BHS and Arcadia Group, is to merge the two companies in a bid to make better use of store space and cut costs.
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Property shares rally on Segro covenant deal
Battered property stocks rallied yesterday after short-sellers were encouraged to close positions in the ravaged sector.
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Rock and B&B urged to end charges for struggling homeowners
Northern Rock and Bradford & Bingley, the government-backed lenders, could be forced to scrap charges levied on struggling homeowners who slip behind with mortgage payments, after accusations that the fees are unfair.
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OFT details plans to investigate estate agents
The Office of Fair Trading (OFT) has detailed the nature of its market study into the buying and selling of houses today.
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Crossrail will boost London economy by £1.24bn a year says report
An economic study published today said Crossrail will deliver ‘substantial economic benefits for the whole of London and the South East’ after the east-west London railway opens in 2017.
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CBI calls for planning permission extensions
The Confederation of British Industry (CBI) is calling for an extension to the validity of planning permissions to help developers which have put projects on hold in the recession.
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Eco-dome and chimney swept away in Battersea Power Station redesign
Real Estate Opportunities has abandoned plans for an ‘eco dome and chimney’ at Battersea Power Station and is working on an alternative scheme which will be lower in height but more dense.
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Edinburgh property company in administration
Edinburgh-based property company FM Group has appointed administrators to ten of its subsidiary businesses.
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Equiton partners begin strategic review of £275m fund
Brixton and its partners Prupim and Equitable Life have appointed Franc Warwick to conduct a strategic review of the £275m Equiton Industrial Partnership.